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Nudie Juice's founding family, the Binetters, will have to repay $125 million to the Australian Taxation Office following the wrap-up of a long-running offshore tax evasion inquiry.

According to a Federal Court ruling on Friday, the family members stashed millions of dollars of undeclared money in Swiss and Israeli accounts, and paid an Israeli lawyer to destroy documents relating to their accounts.

The $125m includes tax, penalties, interest and liquidation costs.

Michael and Andrew Binetter were also found to have breached their duties as directors.

About $50m from last year's sale of Nudie by Philippine company Monde Nissin has been frozen, and the Binetters may have access to this money, depending on the outcome of a separate lawsuit.

Packaging News

APCO has released its 2022-23 Australian Packaging Consumption and Recovery Data Report, the second report released this year in line with its commitment to improving timeliness and relevance of data. 

The AFGC has welcomed government progress towards implementing clear, integrated and consistent changes to packaging across Australia, but says greater clarity is needed on design standards.

It’s been a tumultuous yet progressive year in packaging in Australia, with highs and lows playing out against a backdrop of uncertainty caused in part by the dangling sword of DCCEEW’s proposed Packaging Reform, and in part by the mounting pressure of rising manufacturing costs. Lindy Hughson reviews the top stories for 2024.