Paul Hogan was famously prevented from leaving
Australia in 2010 after the ATO served him with a departure prohibition.
Picture: Adam Ward Source: The Daily Telegraph
The
Herald Sun reports
After
a marathon eight-year row, actor Paul Hogan has finally settled his differences
with the Australian taxman.
The Australian Taxation Office (ATO)
was chasing the Crocodile Dundee star and artistic collaborator John Cornell
over $150 million in alleged unpaid taxes and penalties dating from the 1980s.
The pair were the highest profile
targets of Operation Wickenby, a nationwide, multimillion-dollar fraud probe
launched by the ATO in 2004.
Hogan and Cornell issued a statement
through their lawyer, Andrew Robinson, last night.
"Paul Hogan and John Cornell
are pleased to advise that following a mediation before ex-High Court Judge,
the Honourable Michael McHugh AC QC, they and their related entities have
reached a settlement with the Commissioner of Taxation," the statement
said.
The agreement was reached on a
"without admission" basis.
"The parties have agreed that
the terms of the settlement are to be confidential, but as part of the
settlement, the Departure Prohibition Order issued against Mr Hogan has been
revoked by the Commissioner," the statement continued.
Hogan was famously prevented from
leaving Australia in 2010 after the ATO served him with a departure prohibition
order as it sought to settle the alleged unpaid tax debt.
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