Ancap Good News: 40 per cent of all OZschwitz company tax returns lodged by big business paid no tax

The taxman is bearing down on big business like never before. Adele Ferguson and Stuart Washington investigate.

When Kerry Stokes hit the headlines with a proposal to merge his private tractor leasing business with the listed Seven Network, it put a rocket under the media group's share price. The news of such an odd marriage was enough to distract attention from a ballooning deferred tax liability that is ticking away on its balance sheet and, when it falls due, could decimate a future profit.

Seven's deferred tax liability, which stood at $237 million in June, had swollen to $600 million by last month, after a tax amendment bill was introduced in the House of Representatives.

LNK

Ancap Good News: 40 per cent of all OZschwitz company tax returns lodged by big business paid no tax

Ancap Good News: 40 per cent of all OZschwitz company tax returns lodged by big business paid no tax

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