AUSTRALIAN TAX LAW Kirsty Lim is a 46-year-old solicitor that owns her own legal practice as a sole trader (KL Law). Kirsty is on the top (45%) marginal tax rate. The following events all occurred in the current tax year: Family Trust Kirsty is also the trustee of the Lim discretionary trust that, for the current year, earned dividend income (unfranked) of $50,000 and rental income of $20,000. It paid interest of $10,000 on the loan used to purchase its rental property and shares. During the current tax year, it made the following distributions: $20,000 to Mark (Kirsty's son), a 21-year-old beneficiary. $25,000 to Jane (Kirsty's daughter), a 17-year-old beneficiary. Required: Discuss the tax implications for the following (disregarding the Medicare levy): a) The income tax implications relating to the Lim Family Trust