James Hardie Disputes Huge Tax Bill -- MesoLink.org

Breaking News

James Hardie Disputes Huge Tax Bill

March 27th, 2006

Troubled building products company, James Hardie, has received a massive tax bill for over $400 million which the company plans to dispute. The Australian company, which has been under fire in relation to compensation payouts to asbestos victims, has seen a slump in the value of its shares since news about the tax bill was revealed.

The bill, following an assessment by the tax office claims that the company owes the huge sum due to back taxes as well as penalties and interest. James Hardie has provided a breakdown of the tax bill received from the Australian Taxation Office, which has been given as $172 million in primary taxes, $43 million in penalties, and $197 million in general interest.

A spokesperson for the company has confirmed that the tax bill will be disputed, stating: "James Hardie strongly disputes the assessment and will pursue all avenues of objection and appeal to contest the ATO's position on this matter. Following legal and tax advice both at the time of the transaction and during ATO enquiries, the company believes its tax position will ultimately prevail."

Breaking News

Asbestos Closes Iowa School
June 5th, 2008

Air test results shut down an Iowa elementary school this week amid concerns of asbestos. With only three weeks left in the school year, the

Natural Asbestos Causes Health Concern
June 4th, 2008

A park in California has had almost half its 75,000 acres shut to the public after high levels of naturally occurring asbestos was found. Th

Large Verdict Favors Florida Asbestos Victim
June 3rd, 2008

A Florida man was awarded one of the largest asbestos-related verdicts in the state�s history. The company being held responsible for the $2

Important Notice: Mesolink.org is a legal informational site sponsored by the Peterson Firm, LLC. The Peterson Firm�s office is located at: 20 N. Orange Ave - Suite 400, Orlando, Florida 32801. The Peterson Firm is licensed by the Florida Bar Association to practice law within the state of Florida. If the Peterson Firm undertakes representation of a client outside the state of Florida, it will do so with assistance of local counsel from a law firm located in the state where the case is filed. If Peterson Firm undertakes representation in the state of Florida it will also do so with assistance of co counsel.

The content contained herein was not prepared by lawyers and should not be taken as a substitute for legal advice from a licensed attorney. Additionally, this information is not intended to create an attorney-client relationship simply by its viewing. The creation of an attorney-client relationship requires more than viewing this or affiliated websites. Neither the transmission nor receipt of this website material will create an attorney-client relationship between sender and receiver. The material contained herein is general in nature and may or may not be applicable to a viewer�s individual legal needs. Online readers should not act on this information without seeking professional counsel. Please read our 'Terms & Conditions Of Use' for more information.

Additionally, the information contained on Mesolink.org, including but not limited to informational articles, other text/images, and on or off site links, has not been prepared, endorsed, or reviewed by any form of licensed medical professional, including but not limited to physicians, doctors, and so on. Nothing on the this website should be taken as medical advice, but instead should act as a useful resource in providing general information that may be useful to members of the general public. All visitors are encouraged to consult with a physician or other licensed medical professional for any form of medical advice. Please see our 'Terms & Conditions Of Use' for further information.