Jane Fonda Management Consultant Case Study & Malaysian Bank Account With ITAA Legislation - Law Assignment Help

Assignment Task

QUESTION

Jane Fonda, who lives in Melbourne, is a management consultant with Chevron Ltd, an American company specializing in the development of information systems for the publishing industry. In March 2020 Chevron won a tender contract to install a new computer system for ITS Ltd, located in Malaysia. As a result, on 1 April 2020 Fonda was posted to Malaysia for one month to arrange the 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 2020 her salary was paid into a Malaysian bank account.

Upon completion of her work in July 2020, 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 2020.

Required:

Discuss Fonda’s residency status and the assessability of the above amounts in Australia for the years 2019/2020 and 2020/2021 making reference to relevant case law and sections of the ITAA legislation.

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