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Jack Cowin chases tax payout from Deloitte

 

Fat food identity Jack Cowin and blue chip accounting firm Deloitte could end up in court to settle a dispute involving the return of hundreds of thousands of dollars in stamp duty.

According to the Australian Financial Review, Cowin did not receive the money because of a failure to lodge a form to the Office of State Revenue.

Both sides in the argument are discussing how the money can be retrieved yet both blame each other for the mistake.

The dispute involves the transfer of commercial properties in Perth as part of an asset consolidation within Competitive Foods, Cowin’s private company which franchises out Hungry Jack’s outlets around the country as well as KFC outlets in Western Australia and the Northern Territory.

As long as an application to the OSR is made within 12 months, one owner can transfer property within a corporate group in WA with a stamp duty exemption.  In this case, the application was never made.

Image: resources0.news.com.au

 

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