ebecca is a solicitor and on 15 March 2020 she received compensation of $40,000 for wrongful dismissal from her former employer, ABC Lawyers Pty Ltd. The compensation was to reimburse Rebecca for lost wages as a result of the dismissal. On 20 May 2020, Rebecca received $10,000 for agreeing to enter into a two-year contract to work with Johnson & Co Pty Ltd and she started working for them on 10 June 2020. While she was between jobs, she did some part-time work as a consultant and earned a net amount of $1,700 after PAYG withholding of $800 was deducted.

Based on the above transactions, what amount will Rebecca include in her assessable income for the year ended 30 June 2020?

$51,700

$50,600

$40,000

$52,500

$50,000