During the current income year, Cristiano received the following amounts and gift: • salary of $110,000; • Interest from a bank account in Australia of $2,755 • $460 per week for 52 weeks of the year from a rental property he owns; • A royalty of $5,000 from a book that was published in the United Kingdom. The copyright was signed in London • winnings of $7,000 in the local Australian lotto competition; • $1,150 from selling home-baked cakes to her friends; and • a gold watch worth $20,000 from a happy client. On the assumption that Cristiano is an Australian tax resident, what is Cristiano's ordinary income for the current tax year? Hint: remember that ordinary income has 2 pre-requisites and possibly 2 characteristics