Question: I need the answer as soon as possible Junior Ltd had a tax loss of $500,000 from previous years. On 1 July of the current

I need the answer as soon as possible I need the answer as soon as possible Junior Ltd had a

Junior Ltd had a tax loss of $500,000 from previous years. On 1 July of the current income year, Mr. X buys all the shares in Junior Ltd upon advice from Tina. Tina then suggests that Mr.X transfers $500,000 income from his own family trust into Junior Ltd, which will reduce the trust's income to $5,000 and leaves Junior Ltd with a zero taxable income. Required: Critically evaluate Tina's suggestion with particular reference to ITAA1936 Part IVA and discuss whether Part IVA would apply

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