Fred, an executive of a British corporation specializing in management consultancy, comes to Australia to set up a branch of his company. Although the length of his stay is not certain, he leases a residence in Melbourne for 12 months. His wife accompanies him on the trip but his teenage sons, having just commenced college, stay in London. Fred rent out the family home. Apart from the absence of his children, Fred's daily behavior is relatively similar to his behavior before entering Australia. As well as the rent on the UK property, Fred earns interest from investments he has in France. Because of ill health Fred returns to the UK 11 months after arriving in Australia. Discuss residency and source issues.
During the current tax year Erin received the following amounts:
• Salary and wages income of $98,000
• A bank term deposit of $50,000, which earned interest of $4,200
• A rental property from which she received $500 per week for 50 weeks of the year
• Winnings of $10,000 on the poker machines
• $500 from selling to friends eggs that her chickens laid
• A holiday bonus of $,1000 from her employer
• A watch worth $200 from a happy client
What is Erin's ordinary income for the current tax year?