Accounting for income Taxes: early adoption issues

Patty McNicholas, Kim Wyatt

Research output: Contribution to journalArticleResearchpeer-review


This study investigates whether the revised AASB 1020 Income Taxes was adopted early by Top 100 publicly listed companies in Australia between 2000 and 2004. We found that only three of the companies adopted the revised standard before its implementation date of 1 January 2005. Interviews with senior company representatives indicated that the three companies had quite different reasons for early adoption. Non-early-adopting companies had considered that the revised standard would not make a material difference to their reporting results. Tax consolidations and the impending international financial reporting standards were regarded as more important issues.

Original languageEnglish
Pages (from-to)68-74
Number of pages7
JournalAustralian Accounting Review
Issue number43
Publication statusPublished - Nov 2007

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