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A client of EY has sued a former partner at the firm, accusing them of collecting $700,000 in secret payments as part of a tax loss scheme.
The Australian unit of drug giant Mylan has triumphed in a dispute with Australian Taxation Office, with a judge finding the ATO's assessment for 2020 was "excessive" with respect to interest on loans to fund Mylan's $1.2 billion acquisition of generic drug maker Alphapharm.
A judge has rejected sweeping suppression orders sought by the founders of vitamin giant Nature’s Care over documents in a $200 million tax debt stoush with the Deputy Commissioner of Taxation, instead making limited suppression orders in light of the “serious” allegations made in the case.
The minority shareholder in Sydney restaurant Machiavelli Ristorante Italiano has lost his bid to review the company books in anticipation of bringing a second winding up application, after the relationship between the restaurant's co-owners broke down.
A former EY partner facing ATO action for allegedly promoting tax exploitation schemes has lost a fight to shield their name from media reports of the case, but a temporary suppression order -- which has been in place for half a year -- will stay in effect for at least two more weeks while the partner contemplates a fresh appeal.
Telecommunications giant SingTel has lost its challenge a ruling in favour of the ATO’s decision to reject over $894,000 in tax deductions related to its $14.2 billion acquisition of Optus.
Government consulting firm Scyne Advisory has argued it is entitled to enforce a non-compete clause to stop a partner from jumping to competitor Downer EDI, citing concerns she will be setting up a competing business.
The head of the Australian Taxation Office has flagged cybersecurity as one of his greatest concerns amid millions of attempted cyberattacks on the tax office, saying the prospect of a data breach “keeps me awake at night”.
PricewaterhouseCoopers has been slammed for refusing to release a report by law firm Linklaters into alleged wrongdoing by international partners, with a senator saying the firm was “hiding behind” privilege after it made thousands of such claims during an ATO investigation.
A former Greenwoods & Herbert Smith Freehills partner who alleges he was sacked for complaining about Lendlease's "aggressive taxation position" has lost a bid to argue before the High Court that his claims are covered by new whistleblower protections.