Current Tax
Statement Purpose
The purpose of this statement is to calculate the taxable income or loss for the superannuation fund by making tax adjustments to the net accounting income or loss for the period. This statement also allows identification of any income that creates temporary tax differences.
Data Flow
The statement is populated predominantly via links from backup statements.
- Net accounting income/(loss) for the period is linked from the Income statement.
- Adjustments to net accounting income/(loss) for the period are linked from backup statements.
Explanation of Fields
Temporary Differences Category
– The selection in this column will allow the user to select a category for any domestic or foreign investments within this statement to appear in Temporary differences movement
.Signage
The signage settings are as follows:
- Increases to taxable income are positive amounts.
- Decreases to taxable income are negative amounts.