The 23-year-old made 22 appearances for Salford in 2015.
Prop forward Menzies, 27, is considering several offers. He joined Salford from Swinton at the start of the 2015 campaign.
“Both Liam and Luke are still young and have huge potential,” said Salford Head Coach Ian Watson.
“Liam has a fantastic opportunity in Australia and the club wishes him well. We’d like to thank both players for all their efforts whilst with the Red Devils and wish them all the best for the future.”