Actor Paul Hogan faces a whopping bill on years of undeclared income from the Australian Taxation Office. (Alastair Grant/Associated Press)

Actor Paul Hogan has been accused by Australia's taxman of evading tax on almost $36.3 million ($39 million Australian) of undeclared income.

The size of the bill from the Australian Taxation Office is unknown.

"But if Hogan is assessed at the highest marginal rate of 40 per cent," the Australian Broadcasting Corporation said on Saturday, "the tax office is likely to have demanded a base payment of $15 million [$14 million Cdn], as well as interest charges from the date the tax was due, and additional penalties that could be as high as 75 per cent of the base bill."

Documents obtained by The Australian newspaper show that the country's tax office considers the 70-year-old film star an Australian resident for tax purposes for the years 1987 to 2005, despite the fact that he lived and paid taxes in the U.S. from 1995 to 2002.

The tax bill results from an ongoing probe by the Australian Crime Commission into companies and individuals that have allegedly been channelling money into offshore tax havens.

Hogan has challenged a court decision to release his private records relating to the case. But, Australia's High Court ruled in June that the documents should be made public and they have been released.

Hogan's artistic collaborator and his financial adviser have also been accused in an Australian court of filing tax returns that contain false statements.

The actor is best known for his 1986 film, Crocodile Dundee.