Friday, August 27, 2010
Crocodile Dundee Owes $150 Million in Unpaid Taxes
From worstpreviews,"Crocodile Dundee" star Paul Hogan lives in Los Angeles, but recently flew back to Australia following the death of his 101-year-old mother. When Hogan was boarding his return flight, he was stopped by the Australian Taxation Office (ATO) and served with a bill of $37.6 million in unpaid taxes owed to the government.
Hogan's lawyers are now looking to figure out a deal, because the actor is not able to pay the bill, which may end up being north of $150 million after interest and penalty charges are added. He has been banned from leaving the country, which means that he may not be able to return home to his wife and child for several years.
ATO has been investigating Hogan as part of the nation's probe into the use of offshore tax havens. He has missed many years of tax payments since 1986, which is exactly when Hogan filmed the first "Crocodile Dundee" film.