Question 5 (3 marks) Look-Through Companies Simon and Samantha are planning to set up a LTC and have asked you for some advice on LTC's. They are in particular not sure about the eligibility criteria that have to be met for a company to become a LTC and the tax miss it they decide to cease being a LTD in the future but continue running their business as a company. Required: (a) Explain what criteria have to be met for a company to become a LTC? (3 marks) (b) Explain the tax rules when a company ceases to be a LTC but continues in existence