Vic Biter is a businessman and owns several businesses. He has a company Pint Pty Ltd, through which the trading activities of his business are undertaken. He also has a trust VB Family Trust which owns the shares in the company. Vic Biter is a director and shareholder of Pint Pty Ltd. and the sole trustee of the VB Family Trust. The following transactions occurred in the 2021/22 income year and Vic has come to you for tax advice. a) Pint Pty Ltd provided Vic Biter with a loan of $20,000. Vic used these funds to go on a holiday to Phuket for 3 weeks. There was a written agreement between Vic and Pint Pty Ltd which specified that the loan would be for a period of 7 years and that Vic would pay interest at 2% p.a. The full amount of the interest and principal were to be repaid to Pint Ltd at the end of the 7-year period. There was no provision for annual repayments. (3 marks) b) The VB Family Trust has a number of beneficiaries who are all related to Vic Biter in some way. Vics parents are also beneficiaries of the trust and are both over the age of 65 and retired. Each year, Vic as the trustee of the VB Family Trust makes both his parents presently entitled to $18,200 each. Following this, each of the parents then gifts $18,200 to Vic and to his wife. What are the possible tax implications of this arrangement? (3 marks) c) The VB family trust also makes Pint Pty Ltd presently entitled to $50,000 in the 2021/22 tax year. Pint Pty Ltd reports this amount as income in the relevant tax year and pays taxes accordingly. However, the amount of $50,000 was never given to Pint Pty Ltd nor did the company request payment of that amount. Vic wants to know the tax implications of this transaction. (3 marks) Required For each of these scenarios 1, 2 and 3, advice Vic Biter on the tax implications, citing relevant legislation as necessary. No calculations are required, and keep you answers succinct and to the point.