Ava works as a doctor in a hospital in Sydney earning annual income $400,000. She obtains advice from Tina that she can set up a company and pay tax at a flat rate of 30%. In the beginning of the current income tax year she took Tinas advice and set up DDW Pty Ltd that received taxable income $400,000 from her service at the Sydney hospital. Required: First explain Part IVA and then apply Part IVA to analyse the tax implications for the above scenario. (Australian Tax Law)