Question 2 Lawless Trust is a discretionary trust, with an Australian incorporated company as trustee. The trust derived the following income in this income year. $600,000 profits from running a restaurant in Sydney $90,000 interest from an Australian bank account; and $18,000 interest from a Hong Kong bank account. The trust has the following three beneficiaries who are entitled to receive both income and capital distributions from the trust: Gary, 50-year-old Australian resident, a tax manager earning $200,000 salary in the years George, 40-year-old non-resident; and Matt 12-year-old Australian resident, with no other income. What are the tax implications of the three beneficiaries if the trustee distributes the above income equally to each of them? You are not required to compute the tax liabilities of the beneficiaries. (10 marks)