Select the incorrect alternative.

Group of answer choices

a. An Australian corporate entity that derives interest from overseas where withholding tax applied at the source must include only the net interest in its assessable income.

b. A company incorporated in Canada, which carries on business in Australia and has central management in Australia, is an Australian resident.

c. The worldwide taxation principle applies to Australian resident taxpayers.

d. An Australian resident corporate entity may claim a non-refundable foreign credit tax offset for withholding tax paid overseas.