At least one case involves the sale of real property of several hundred million dollars. The potential outstanding tax liability in that case is approaching $100 million.
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The Tax Office has warned companies and their advisers about using a trust scheme to avoid capital gains tax after uncovering cases that triggered hundreds of millions in tax bills.
An official alert was issued after a small number of cases were uncovered involving unit trusts effectively disposing of assets without paying capital gains tax.
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Original URL: https://www.afr.com/link/follow-20180101-p5376w
