JG is a business run by 2 brothers, John and Greg. The business is registered as a Close Corporation. They would like to convert their business to a company and asked you to highlight the benefits of a company compared to a close corporation. Choose the correct statements.

i. Close Corporations and companies are treated the same way with regards to Income Tax and Capital Gains Tax. ii. Close Corporations dont pay dividend tax. iii. Close Corporations are separate legal entities with perpetual succession iv. There is no limit on the number of shareholders in a company. The maximum number of members in a close corporation has increased to 20 (aligned to the new maximum in a partnership). v. A director can act on behalf of the company in terms of the company Memorandum of Incorporation. In a close corporation any member can act on behalf the close corporation irrespective of the members holding in the close corporation. a. i; ii; iii b. ii; iv; v c. iii; iv; v d. i; iii; v e. None of the above