Need to be answered in detailed and make sure answer is correlated to Australia standards

(B) Every year companies in Australia generally expect to have to pay some of their earnings to the Australian government in the form of income tax. However, the amount paid to the government is rarely the amount ported as income tax expense in the statement of profit or loss and other comprehensive income. Required 1. Explain the objectives of accounting for income tax in general purpose financial statements. 2. List the steps in the annual computation of deferred tax assets and liabilities