An Australian company conducts a significant portion of its business operations overseas. Which statement best describes the tax implications for this company under Australian taxation law? Question 2Answer a. The company is not subject to Australian income tax on its worldwide income b. The company is exempt from paying income tax in Australia since most of its operations take place overseas. c. The company only has to pay income tax in Australia for the portion of income that is generated domestically. d. The company is subject to Australian income tax on its worldwide income but may be eligible for a foreign income tax offset for some types of income