Q1.a) How do you establish whether or not a company is a resident of Australia for tax purposes?b) Why it is important to determine resident of a company?Q2.a) In your own word explain what is a Franking Account? Quote relevant section.b) To whom do the Franking rules apply? quote relevant section?c) When dose a franking credit arise?d) When dose a franking debit arise?Q3.Anthony Smith become bankrupt and as direct result thereof, the tax practitioners’ Board cancelled Smith’s registration as a tax agent. Smith wants to contest the Board’s decision. Advise Smith how, if at all, he can appeal against the Board’s decision. If he can appeal, what chance has he of being registered? Quote relevant legislation if applicable.Q4.Section 97 and 98 ITAA 1936 apply when a beneficiary is presently entitled to a share of the income of a trust estate. What is meant by the words “Presently entitled” as used in these sections?Q5.Nadia, a resident taxpayer aged 45, has total income of $41,000 of which 90% comes from employment and the remainder from interest and dividends.a) What is maximum superannuation co-contribution she can receive for the year ended 30 June 2016?b) If Nadia makes superannuation contributions of $500 what is the maximum co-contribution she will receive?