A billionaire who bought Tasmania’s Woolnorth dairy for A$280 million in 2016 has won a tax reversal: a full court overturned the case that had left his companies facing A$23.4 million including penalties and interest
- A Full Court in Tasmania has overturned a multi-million-dollar tax assessment against companies linked to billionaire businessman Xianfeng Lu.
- The decision cancels a disputed A$23.4 million stamp duty bill, including accumulated penalties and interest.
- The ruling is a major legal win for Moon Lake Investments and other companies linked to Mr Lu.
Unverified
- A Full Court in Tasmania has overturned a multi-million-dollar tax assessment against companies linked to billionaire businessman Xianfeng Lu.
- The decision cancels a disputed A$23.4 million stamp duty bill, including accumulated penalties and interest.
- The ruling is a major legal win for Moon Lake Investments and other companies linked to Mr Lu.
Sources: Times of India