James Hardie’s litigation victory helps bottom line
23 May 2012
ITR Correspondent
The Australian Taxation Office played a crucial role in the annual results of James Hardie, which were announced this week.
The building materials company received a $396 million refund from the Australian tax authorities arising from a case that ended in victory for the taxpayer in the High Court in Canberra in February.
Unveiling its results, the company said that the case being finalised in favour of RCI, a subsidiary of James Hardie, meant that an income tax benefit of $485.2 million was recognised in the quarter and full year results.
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