2. Bob and Alison are married and are both New Zealand tax residents. They decide to invest in a muffin and pastry manufacturing business. They also have a retail caf on the premises. They operate the business as a partnership. After the application of the appropriate taxation laws the partnership has a net income from the business of $400,000 before any distributions to the partners. Bob has withdrawn $140,000 during the income year, and Alison has withdrawn $180,000. The partnership is required to file an income tax return for the year ended 31 March 2023.

Required: How does a partnership tax return differ from other income tax returns? Why?

3. For Question 2 above, how will any salaries and partnership profits be taxed if Bob and Alison have no other income? What other tax returns are required to complete Bob and Alisons tax compliance requirements?