crocodile-dundee

'Crocodile Dundee' star Paul Hogan settles $150M tax battle

May 7, 2012 at 10:01 AM ET

AP /
Paul Hogan

Good news for Crocodile Dundee!

Paul Hogan, the 72-year-old actor who starred as the adventurous reptile hunter in the iconic films, has reached a deal with Australian authorities over an eight-year tax battle, according to the BBC.

Hogan allegedly owed $150 million in unpaid taxes and penalties. As a result, in 2010 he was barred from leaving Australia to return to the United States for his mother's funeral. (The travel ban was dropped two weeks later.)

READ: Which "Celebrity Apprentice" star owes the tax man?

Although Hogan denied any wrongdoing all along, he said, "[I'm] glad it is all behind me now. It will be nice not to have to talk about tax all the time."

A statement from the actor's lawyer explained that the dispute had been settled over mediation before a former High Court judge.

PHOTOS: Tax troubles

The terms of the settlement are confidential, "but as part of the settlement the departure prohibition order issued against Mr. Hogan has been revoked by the commissioner."

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