Crown in income tax dispute
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Crown today received notices from the ATO claiming it owes $250m in tax and interest in relation to its income tax returns for the six years to 2015 inclusive. The claims relate to the tax treatment of some of the financing of the company's North American investments.
Crown disputes the ATO's claims and will take all necessary steps, up to and including legal action, to protect its interests.
We aren't tax experts and so can't knowledgeably comment on how, or when, this dispute will be resolved. However, we suspect the dispute will take many years to play out and, further, any payment that Crown is ultimately required to make appears manageable.
We'll update members when the company reports its half-year result later this month. BUY.
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