Mid semester test sem 1 2021 In relation to the liability to income tax, which of the following statements is MOST correct? Time Select one: O a. The Medicare levy applies to all taxpayers b. Rates of tax vary depending on the nature of the taxpayer and whether the taxpayer is a resident or a foreign resident C. The tax rates for individuals are an example of a regressive tax d. Income tax is only paid by individuals and companies Clann