Perth now article makes it clear that this is an individual audit. It has nothing to do with CFE itself. No additional tax will be laid on CFE itself. CFE has gone up 50%+ since it's lows and with a fall on Wall St. Overnight am sure there will be some profit taking today.
This will not help, but will blow over quickly. It is a dispute btw the ATO and an individual taxpayer.
TS no doubt employs tax advisers and this will be a matter for them to dispute with the ATO. As stated in the article, ATO may be more aggressive to try help The Govt manufacture a surplus.
I assume that CFE will issue an announcement to clarify this although given that it is likely a private matter btw TS and the ATO, don't expect too much detail.
CFE Price at posting:
28.5¢ Sentiment: None Disclosure: Held
