Tasmanian timber company Gunns is facing a multi-million-dollar tax bill.
The company has told the Securities Exchange that it has received two amended tax assessments that could cost it almost $65 million.
Gunns says the assessments relate to transactions in 2007.
Financial analyst Matthew Torenius says Gunns will dispute the assessments.
"You probably find that this ends up in the Federal Court or somewhere along those lines," he said.
"But obviously it is a case of getting a ruling on these from the courts now." Gunns has said that in the meantime it will make a part-payment of those assessments while the matter is in dispute.
The ailing company has recently foreshadowed major asset writedowns.
Its shares have been in a trading halt for four months.