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Accounting

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1.The 'Corporate Taxation' model A Imposes tax on the income of the business entity at entity level (? Permits the Tax Commissioner to tax both the company and the shareholder for income distributed to the shareholder ? Is designed to ensure that shareholders to whom the company pays dividends pay all the tax owing for the dividend income D Is designed to ensure that companies and shareholders always share in equal proportion the tax owing for company income.

2.Point if a beneficiary is presently entitled to a distribution of trust income but is under a legal disability then: A the beneficiary must pay tax on the income distributed B the income is tax-exempt the beneficiary is entitled to a 'legal disability tax deduction' the trustee must pay the tax on the income distributed.