High Court Rules in favour of James Hardie and dismisses ATO Special Leave application

In September 2010 James Hardie lost an appeal against the Australian Tax Office (ATO) resulting from an amended tax assessment issued to James Hardie’s subsidiary RCI relating to its 1999 accounts ($370 million in tax liabilities being involved). 

The amendment involved capital gains argued by the ATO to be the result of a company restructure in 1998. In 2007, James Hardie appealed the amended assessment in the Federal Court. The Court dismissed that appeal and ordered James Hardie to pay costs. 

Subsequently the High Court  has ruled in ifavour of James Hardie.
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