Sept 7 (Reuters) - Ausnet Services Ltd AST.AX :
* ATO dispute ip out-of-court settlement reached
* Executed binding settlement deed with ato to settle dispute relating to intellectual property deductions claimed by co in 1998 to 2010 tax years
* Out-of-court settlement reached with the ato eliminates a $27 million tax exposure, ensures no further significant up-front tax payments
* Says impending high court hearing and federal court proceeding remitted back to the primary judge will be discontinued
* Says now resolved all its disputes with the ato and has no other audit activity occurring with the ATO
* As at 31 March 2015, co recognised $84.1 million tax charge in relation to total disputed amounts
* As a result of settlement, $27 million of prior period tax charges will be written back in the 2016 financial statements
* Entitled to $14.6 million franking credits in respect of the October 2011 payment made to the ATO
Source text for Eikon ID:nASX8x08dY