photos on his Facebook profile. Within weeks his prole became highly popular and he observed an exponential growth in the number of his followers. On 1 June 2018 James entered into an informal agreement with a manufacturer of photography equipment whereby James would be provided with free equipment which he would test and review on his Facebook profile. By the 30 June 2018 James had received and tested photography equipment worth $2,500. Required (Total 20 marks) (a) Advise James Bond on the income tax consequences of the above activities for the year ending 30 June 2018, by applying legislation and case law to support your answer. (14 marks) (b) Calculate James Bond's tax liability for the year ending 30 June 2018, by applying legislation and case law to support your answer. (6 marks) Submission Requirements You need to submit the above requirements as a report using Word. The first page of your report should be a cover page with the subject code, your name and student ID and the name of your workshop group. The second page should be a table of contents. The body of the report will include the requirements above (a 8: b) and each requirement needs to be clearly numbered. You need to include references (i.e. tax law, legislation, taxation ruling, case law) within your text as per conventional format). The report needs to be page numbered and presented in a professional and well-formatted manner