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Part A (10 marks) (A) What are the criteria to classify a base rate entity and what is the rate of tax? (10 marks) (100
Part A (10 marks) (A) What are the criteria to classify a base rate entity and what is the rate of tax? (10 marks) (100 words)
(B) Amid is the trustee of a complying superannuation fund that pays tax at the rate of 15%. Its taxable income for the year consists of a $85,000 dividend with which $40,000 of franking credits allocated to it. What is Amids tax liability? Show working.
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