Rupert’s Millions roll into the ACT Government coffers

johnboy 16 February 2011 8

The Age reports that the ACT Government has pulled in $77 million after busting a tax avoidance scheme being perpetrated by Rupert Murdoch’s News Corporation.

The money will allow the territory to present an almost balanced budget this financial year and represents a stunning victory by the nation’s smallest jurisdiction over the international corporate giant, which reported revenue of nearly $4 billion in 2009-10.

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News Corporation’s Australian arm, News Limited, owns newspapers including The Australian and the Herald Sun.

The company did not include the massive tax and penalty payment in its December quarter update. A News Corporation spokesman said yesterday that the case had been settled confidentially and declined to comment further.

The ACT government is also refusing to talk about the money, citing tax laws.

But documents reveal a four-year investigation by Treasury Commissioner for ACT Revenue Graeme Dowell and his officials.

It’s good to get a win from time to time.

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8 Responses to Rupert’s Millions roll into the ACT Government coffers
LSWCHP LSWCHP 9:15 pm 16 Feb 11

Ohhhhhh…..Sweeeeeeeeeet! Perhaps there is a god, after all.

Growling Ferret Growling Ferret 7:10 pm 16 Feb 11

Watch News Corp start up a free daily, kicking the spit out of the ACT Govt. The ACT Govt backs down, News Corp wins.

A good win for the ACT though

georgesgenitals georgesgenitals 5:44 pm 16 Feb 11

Good on ’em, looks like govco kicked a goal on this one!

troll-sniffer troll-sniffer 5:44 pm 16 Feb 11

Funny thing is there was an article at the Fairfax online site (SMH in my case) which gave the above details, so i went over to a couiple of the News Ltd’s sites to get a clearer picture, them being involved and all that, and blow me down with a feather, there wasn’t a mention anywhere that i could find.

Talk about lack of investigative reporting lol.

Devil_n_Disquiz Devil_n_Disquiz 5:27 pm 16 Feb 11

Cool. Can’t wait to see the public art Stanhope purchases with his winnings.

johnboy johnboy 5:25 pm 16 Feb 11

tortfeaser said :

What obligation could News Ltd have to the ACT Govt worth $77m? That’s a whole world of payroll tax.

Apparently it was stamp duty on share transfers. Done here on the assumption the little revenue office wouldn’t dare call them on it.

tortfeaser tortfeaser 5:17 pm 16 Feb 11

What obligation could News Ltd have to the ACT Govt worth $77m? That’s a whole world of payroll tax.

el_presidente el_presidente 4:09 pm 16 Feb 11

I don’t know what makes me happier about this story: the fact that Canberra will be getting a sh*t tin of money, or the fact that News Ltd is losing a sh*t tin of money.

I hate you Rupert.

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