Jane Fonda, who lives in Melbourne, is a management consultant with…

Question Answered step-by-step Jane Fonda, who lives in Melbourne, is a management consultant with… Jane Fonda, who lives in Melbourne, is a management consultant with Chevron Ltd, an American company specialising in the development of information systems for the publishing industry. In March 2021 Cheveron won a tender contract to install a new computer system for ITS Ltd, located in Maylasia. As a result, on 1 April 2021 Fonda was posted to Malaysia for one month to arrange installation of the system. Due to technical difficulties in the installation, Fonda’s stay was extended by a further three months. Initially her salary of $7,000 per month was paid into a bank account in Melbourne. However, from 1 May 2021 her salary was paid into a Malaysian bank account.Upon completion of her work in July 2021, ITS presented Fonda with two airline tickets and vouchers for a holiday in London valued at $8,000. ITS also offered Fonda a three-year consulting job with the company with an annual salary of $150,000 and a car.As an incentive to join ITS, and to compensate for her leaving Cheveron and having to move permanently to Maylasia, she was offered $50,000. This was to be paid in two instalments — $25,000 on joining the firm and $25,000 after one year’s service.Fonda accepted the offer on 1 September 2021. Required:Discuss Fonda’s residency status and the assessability of the above amounts in Australia for the years 2020/2021 and 2021/2022 making reference to relevant case law and sections of the ITAA legislation. Law Social Science Tax law ACC 80012 Share QuestionEmailCopy link Comments (0)