Clive Palmer Could Lose A Prized Asset Over An Unpaid Carbon Tax Bill: Report

MP Clive Palmer could potentially lose his Queensland Nickel business over a carbon tax payment according to The Australian (Photo: Getty/Chris Hyde)

Clive Palmer’s Queensland Nickel business could potentially be closed down, with regulators preparing to sue the company over a mounting carbon tax bill, according to The Australian.

The company could face a bill of up to $35.8 million by the end of this financial year, with the original $6.2 million amount for 2012-13 increasing with interest and penalties.

After receiving a final warning in December, The Clean Energy Regulator — the agency tasked with collecting the tax — has instructed the government solicitor to prepare an action against the company to seek the cash in court, which would capture the refinery as well as associated entities and the directors.

Palmer and his public relations firm declined to comment.

Palmer, the member for Fairfax and leader of the PUP, launched a High Court challenge against the original payment, and has campaigned to retrospectively abolish the tax, though the regulator is still entitled to seek payment in a concurrent legal action.

“I don’t have to justify it, that’s just the reality of it,” Palmer told the National Press Club in November. “It’s not me complying with anything. Companies I own are not me. I’m a different person.”

There’s more here.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.