Faye has been under employed for the past three years and is seeking more work. In the past six months she unsuccessfully applied for twenty full-time positions before deciding to contact a recruitment consultant, Christine Halfgate, for help. Within a week Christine found Faye a fulltime position working with Australia Post in the mail sorting department. Faye was so grateful that she bought a silver watch worth $500 and gave it to Christine. Required B: (10 marks) Advise Christine whether the receipt of the watch is a mere gift or is assessable income. In your response give reasons and refer to sections of legislation and cases, where relevant