TIB - August/September 2011

Revenue alert

• RA 11/01: Donations tax credit – arrangements entered into to get a tax credit where there has not been a true gift of money

Legislation and determinations

• Determination CFC 2011/03: Non-attributing active insurance CFC status (Cigna APAC Holdings Limited)

Legal decisions – case notes

• Commissioner granted leave to appeal trustee company liquidation case
• Application for recall of TRA decision
• Court declines to use the “slip rule”
• Court declines leave to amend claim after judgment delivered
• A buy-back of part of a property is not “acquisition” under section CD 1(2)(a)
• Wide-ranging discovery ordered