Murdoch’s mother beats Aussie tax man
The 99-year old mother of media mogul Rupert Murdoch has won an appeal in court against a tax bill on a $A81m payment
Dame Elisabeth Murdoch, the 99-year old mother of media mogul Rupert Murdoch,
has won an appeal against an Australian Taxation Office (ATO) order to pay tax
on an $81m payment received following a 1994 reorganisation of family trusts.
The tax bill is estimated to have compounded to $A70m (?34m) over the past 13
years.
An administrative court rejected her first appeal, but three Australian
Federal Court judges unanimously upheld her appeal yesterday, agreeing she owed
no tax, according to
Associated
Press.
The Murdoch matriarch’s husband was the late Sir Keith Murdoch and Rupert
Murdoch inherited his first newspaper from him.
Further reading:
Aussie taxman slugs Murdoch’s mother $A70m