INCOME TAX DISCLOSURES OF TOP AUSTRALIAN COMPANIES Select three companies listed on the ASX from different industries (e.g. Telstra, Woolworths and Fortescue Metals Group). Go to www.asx.com.au and find the most recent annual financial report of each of the three companies. Compare the information relating to income tax in the financial statements and report your findings. Your presentation should address: • the income tax expense included in the profit or loss for the year • any income tax included in other comprehensive income • the current and deferred tax components of income tax expense • whether a deferred tax asset or deferred tax liability or both is disclosed in the statement of financial position and the magnitude of these balances.