Alesco wins right to challenge tax case in Supreme Court

Tue, 09 Jul 2013

July 9 (BusinessDesk) - The Supreme Court has granted Western Australia-based Alesco Corp the right to challenge a tax avoidance ruling over its use of securities with the characteristics of both equity and debt to fund a local acquisition. The country’s highest court today granted Alesco leave to appeal a March decision in the Court of Appeal which would see it face an $8.6 million bill in back taxes and penalties. Justices John McGrath, William Young and Terence Arnold will let the kitchenware maker appeal whether the structure it used w...

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