Calculate the foreign income tax offset of a company with the details:

Fashboard (1 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 Tax Type of income expenses and tax $ $ Germany 100,000 55,000 Trading income Hong Kong 50,000 7,500 Trading income Australia 200,000 123,750 Trading income Q21 Calculate the foreign income tax offset the company would be entitled to. (10 marks) . i X x . 2. B ji H-