09 May 2011
Foster's Successful in Tax Litigation
Foster's Group Limited (Foster's) has been notified that the Australian Commissionerof Taxation (the Commissioner) will not seek special leave to appeal to the High Court in relation to the decision of the Full Federal Court in disputed tax assessments relating to the financing of the Elders Finance Group in the 1980s and 1990s. Accordingly, this matter is now concluded in favour of Foster's.
Part payment in relation to the dispute had been made to the Commissioner pending resolution of the litigation. A receivable of $256.7 million has been recognised by Foster's in this regard. Foster's will now commence the process to recover this amount plus interest from the Commissioner and will consider the implications for the company going forward.
Further information:
Media
Andrew Butcher
Tel: +61 3 9654 0735
Mob: +61 400 841 088
Liz McLachlan
Tel: +61 3 8626 3927
Mob: +61 418 651 374
Investors
Chris Knorr
Tel: +61 3 9633 2685
Mob: +61 0417 033 623
