<h1>Income Computation and Disclosure Standards proposed to standardise tax accounting, imposing new disclosure and computation rules from next assessment cycle.</h1> The Government proposed Income Computation and Disclosure Standards to standardise income computation and disclosure obligations for specified classes of taxpayers. Drafts were prepared by a committee of officials and professionals, published for stakeholder comments, revised, and re published; the standards are to apply from the specified forthcoming assessment cycle, implementing consistent computation methodology and disclosure requirements.