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Australian Management Pty Ltd is a resident company which, during the current income year, derives the following income and is liable for the following

 

Australian Management Pty Ltd is a resident company which, during the current income year, derives the following income and is liable for the following tax: Source Country Net income after Type of income expenses and tax Germany Hong Kong Australia 100,000 50,000 200,000 55,000 7,500 123,750 Trading income Trading income Trading income Q21 Calculate the foreign income tax offset the company would be entitled to. (10 marks)

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