ATO chases Myer millions

PRIVATE equity firms have been put on notice that supposedly tax efficient structures for owning and selling assets such as the $2.4 billion float of the department store giant Myer Holdings may in fact attract multimillion-dollar income tax bills.

Privateers pursued over Myer tax bill

THERE would be almost no chance of recovering a $678 million tax bill against the private equity firm TPG if funds from last week's float of Myer moved offshore, a lawyer for the Australian Taxation Office warned in court this week.