Which of the Following Statements Is FALSE

Which of the following statements is FALSE?

A) In years in which the Australian tax rate exceeds the combined tax rate on all foreign income, the repatriation of additional income does not incur an additional Australian tax liability, so the earnings can be repatriated tax-free.
B) By pooling foreign income, the firm effectively pays the combined tax rate on all foreign income.
C) Other benefits from deferral arise because the firm effectively gains a real option to repatriate income at times when repatriation might be cheaper.
D) Deferring repatriation of earnings lowers the overall tax burden in much the same way as deferring capital gains lowers the tax burden imposed by the capital gains tax.