a) Chris Co is a resident company, previous year it received $3.5m of Australian source income and $1.5m of foreign source income. The foreign source income was subject to foreign income tax at the rate of 40%. Considering the FITO, calculate Chris Cos Australian tax liability.

b) What are the different circumstances in which Subdiv 815-B and Subdiv 815-C ITAA97 operate?

What is a superannuation plan? Explain your answer.