Colbert: Tax cuts and 'nothingness'
Debt panel suggests major tax changes

Crocodile Dundee's tax case goes to court

MELBOURNE, AUSTRALIA - AUGUST 16:  Paul Hogan attends the World premiere of 'Charlie & Boots' at the Village Cinemas Rivoli on August 16, 2009 in Melbourne, Australia.  (Photo by Kane Hibberd/Getty Images)

Paul Hogan, better known here in the United States as the movie character Crocodile Dundee, is having his day in court on his alleged debt to the Australian tax collector.

Hogan's financial adviser, Tony Stewart (no, not the NASCAR driver) was the first to take the stand at a hearing to determine whether the actor an his manager, John Cornell, will face tax evasion charges.

Hogan, Cornell and Stewart have been under investigation by the Australian Tax Office  since 2005. Oz tax officials allege that the trio used offshore accounts to avoid paying as much as $37 million in taxes on royalties made since the 1980s from the Crocodile Dundee films.

The tax component, however, could be the least of the three men's worries.

The Australian Crime Commission is part of the proceedings. Its investigators are looking into whether the more than 1,200 documents in the tax fraud case might be a foundation for subsequent criminal proceedings against Hogan and his business associates.

Related posts:

Want to tell your friends about this blog post? Click the Tweet This or Digg This buttons below or use the Share This icon to spread the word via e-mail, Facebook and other popular applications. Thanks!


Feed You can follow this conversation by subscribing to the comment feed for this post.

The comments to this entry are closed.