Below are several statements of relevant facts withthe tax issues identified. You are required to state your conclusion for each tax issue listed and to provide the reasoning underlying each conclusion. The reasons provided (maximum 300 words for each issue) should be well supported by the legislation and other sources where appropriate. All sources must be clearly cited and referenced. They do not form part of the word limit imposed. No marks are awarded if your reasoning is not provided. Please note that "justify your answer" means that you are required to defend your answer by giving reasons for arriving at your conclusion. Twelve (12) marks are also awarded for overall presentation. Please note that you will lose marks if: a reference list is not provided your reasoning is written in such a way that it is not easy to read or follow; in-text citations are not set out in accordance to the guidelines for Assignment 1 (as provided on the Stream site) Other criteria are shown on page 1 All amounts are expressed in New Zealand currency. All taxpayers are New Zealand tax residents and where relevant, the taxpayers have a standard balance date of 31 March. All scenarios are hypothetical and are set up for the purpose of this assignment