As other posters have said, the UK doesn't follow Australia in the
definition of the fiscal year (though if they did use the same dates as
us, it would probably be more accurate to express it the other way around).
There are a wide variety of dates for the fiscal year across the world.
Some countries have more than one definition, for different parts of the
economy, e.g. government vs non-government (the UK is one of those
countries). Afghanistan defines its fiscal year in terms of a
non-Gregorian calendar.
The tax year usually follows the fiscal year, but not in all jurisdictions.
For lots more information, see: https://en.wikipedia.org/wiki/Fiscal_year
I think that it would be useful if GnuCash allowed the Accounting Period
to be set to relative dates in an unspecified year, e.g. for Australia,
1 Jul to 30 Jun. GnuCash really only caters for fiscal years where the
fiscal year happens to be the same as the calendar year. According to
the Wikipedia entry, that's the most common choice, but there are quite
a lot of countries where it's not the case.
For example: Australia, Canada (for personal/corporate), Hong Kong,
India, New Zealand (personal/corporate) & UK (different dates for
government and personal/corporate). And despite fairly close ties
between Australia and New Zealand in other matters, Australia and New
Zealand have different fiscal years for personal/corporate use). The USA
has three different dates, federal, state and personal/corporate, though
the latter is the calendar year.
Peter
On 9/10/21 23:37, Doug wrote
I wonder how many other countries have non-Calendar year Financial years? I
guess the UK might copy us
seeing we seem to copy their laws in our early days.
regards, Doug
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