Lendlease has, for the first time, officially disclosed to investors a potential tax liability in its financial statements connected to an alleged $260 million tax scheme that PwC gave advice on about a decade ago.
The property company’s disclosure marks a continuing change of tune from Lendlease, which in 2020 originally insisted there was “no dispute or negotiations” with the Australian Taxation Office, and in 2021 dismissed as a “speculative story” when The Australian Financial Review again reported on the issue.
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John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury. Connect with John on Twitter. Email John at jkehoe@afr.com
