PART A: Written letter of advice.
Alex while talking to a friend (Oliver) at a networking event is informed about a topic called “The
evolving tax treatment of cryptocurrencies”. Tax ramifications were discussed so Alex is seeking
your advice. In your own words, explain the tax treatment of “cryptocurrencies” to Alex and the
potential impact if he has a small portfolio of cryptocurrencies. (500 words limit)
PART B: Calculation of the net income of a partnership and preparation of the distribution
statement for each of the partners
Pitt partners opened a consulting business on 1 July 2018. The accounting profits and losses are
to be shared equally. The following transactions were recorded in the partnership’s cashbook in the
year ended 30 June 2019.