Fiona Parsons, aged 35, lives in Melbourne, is a management consultant. She is employed by Stadler Ltd, an American company specialising in the development of information systems for the publishing industry. In March 2018 Stadler won a tender contract to install a new computer system for EZI Ltd, located in Singapore. As a result, on 1 April 2018, Fiona was posted to Singapore for one month to arrange installation of the system. Due to technical difficulties in the installation, Fionas stay was extended by a further three months. Initially her salary of $8,000 per month was paid into a bank account in Melbourne. However, from 1 May her salary was paid into a Singapore bank account.

Upon completion of her work in July 2018, EZI presented Fiona with two airline tickets and vouchers for a holiday in London valued at $8,000. EZI also offered Fiona a three-year consulting job with the company with an annual salary of $100,000 and a car.

As an incentive to join EZI, and to compensate for her leaving Stadler and having to move permanently to Singapore, she was offered $40,000. This was to be paid in two instalments - $20,000 on joining the firm and $20,000 after one years service. Parsons accepted the offer on 1 September 2018.

Advise Parsons as to the assessability of the above amounts in Australia for the years 2017/2018 and 2018/2019.

Hint: At this stage, there is no need to consider the impact of Fringe Benefits Tax, nor law concerning Eligible Termination Payments (ETPs).