Terri Irwin’s tax arrangements in focus

Details of Terri Irwin’s tax arrangements have emerged as she fights a Victorian County Court claim over unpaid fees allegedly owed to a Singapore-based investment bank.

A trustee company used by Irwin, who is the widow of the late crocodile hunter Steve Irwin, was reportedly advised by Nick Petroulis, the former first assistant tax commissioner who will be sentenced this month for corrupt conduct.

The Australian Financial Review reports that a judgement handed down by Victorian County Court Judge Maree Kennedy yesterday reveals that in the months leading up to Steve Irwin’s death from a stingray attack in September 2006, the Irwins and the vehicle that owns Australia Zoo entered into “a series of complex business restructuring arrangements”.

The arrangements ran into trouble when the tax arrangements were challenged by the Australian Taxation Office.