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Every year Companies in Australia generally expect to have to pay part of their earnings to the Australian government in the form of income tax.
Every year Companies in Australia generally expect to have to pay part of their earnings to the Australian government in the form of income tax. However, the amount paid for a year is rarely the amount reported as income tax expense in the statement of profit and loss and other comprehensiv e income for that year. Will the income tax expense for an accounting period be the same as the income tax payable at the end of that accounting period?
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