[ibshell1]

I think sometimes it may be to fall in line with regulatory requirements. For example, in some countries, commercial banks must have their year end on 31st Dec each year. So if a company started trading during the same year, they would be required to prepare accounts for the end of the year.

[ibshell1]

I think the profit figure is determined by when the accounts are filed. So if the accounts where filed in January 2018, then the profit figure that will be used will be the profit as at the date of filing. The $45,000 represents profit for year ending 31.03.2018. But if it was the same profit as at 31.01.2018 then 16/17 tax year will 3/13 * 45,000.

[ibshell1]

I passed with 52% after 4th attempt. Last set of results were 48, 49, 47. I was almost on the verge of giving up!

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