Croc Dundee duo settle with ATO
BYRON Bay's favourite adopted son, John Cornell, and his actor mate Paul Hogan have settled their differences with the Australian Tax Office more than eight years after it went gunning for them through operation Wickenby.
The pair were targeted for earnings generated by the hit 1980s film Crocodile Dundee, which starred Hogan, was produced by Cornell, and co-written by the pair, along with Ken Shadie.
Hogan and Cornell released a statement through their lawyer announcing the settlement:
"Paul Hogan and John Cornell are pleased to advise that following a mediation before ex-High Court judge the Honourable Michael McHugh AC QC, they and their related entities have reached a settlement with the Commissioner of Taxation on a 'without admission' basis.
"The parties have agreed that the terms of settlement are to be confidential, but as part of the settlement, the Departure Prohibition Order issued against Mr Hogan has been revoked by the commissioner."