Vol 23 No 7
Issued
01 Sep 2011

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