A court in Tasmania has overturned a substantial tax assessment against companies linked to Xianfeng Lu, voiding a A$23.4 million bill which included penalties and accrued interest. The dispute centered on the 2016 acquisition of the Woolnorth dairy estate, purchased for A$280 million. This decision significantly reduces a major financial burden for the companies responsible for managing the property located in north-west Tasmania. The Full Court’s ruling effectively cancels the original stamp duty assessment. This represents a victory for the companies involved, removing a significant financial liability. The case highlights complexities surrounding property transactions and associated tax obligations within Tasmania.