Lendlease plans to challenge a $112M tax bill from the ATO over its 2018 trust sale, causing a 3.5% share price drop.
Lendlease, a $4.3B property developer, plans to challenge a $112M tax bill from the Australian Taxation Office (ATO) over capital gains from its 2018 Retirement Living trust sale. The company faces investor pressure to restructure amid the dispute, with CEO Tony Lombardo scheduled to address the issue at an investor day. The ATO's tax assessment has caused a 3.5% drop in Lendlease's share price.
May 13, 2024
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