Wealthy Aussie hit with a $242m bill | The Australian.

The Australian Taxation Office has hit one of Australia's wealthiest people with a massive $242 million tax bill, following an extensive audit of their financial affairs.The bill, which includes tax and penalties, relates to several years of activity and the person's use of an offshore tax haven. The tax office audited the person, who has not been identified, as part of its focus on wealthy individuals.

Tackling tax havens pays.