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Abhishek is employed during the financial year ending 30th June 2020 as a lecturer at the Universe College in Sydney with a total salary of

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Abhishek is employed during the financial year ending 30th June 2020 as a lecturer at the Universe College in Sydney with a total salary of $100,00 for that financial year plus his employer pays to Unisuper the compulsory superannuateon contribution of $9,500. The Universe College also deducted PAYG from his $100,000 pay amounting to $30,000 which they remitted on his account to the ATO Abhishek had allowable deductions in relation to his employment income of $2,000 Earlier in his life, on 151 January 2000, Abhishek had bought a vacant block of land for $250,000 and since that date, he has paid rates and taxes totalling $50,000 on the block of land up to 30th June 2020. His incidental costs in buying and selling the land amount to $40,000 On the 30th June 2020, Abhishek sold the vacant block of land for $400,000 In May 2020, Abhishek decided to take a night off and he got lucky winning $200,000 playing against the Goodluck Casino on the roulette table. H Required: Part a (15 marks) What is Abhishek's ordinary income for the year ended 30 June 2020

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