Tax Newsletter FCT v Crown Insurance (Vanuatu) – High Court refuses Commissioner leave to appeal decision that insurance income did not have an Australian source [21]

The High Court has dismissed the Commissioner’s application for special leave to appeal against the decision of the Full Federal Court in FCT v Crown Insurance Services Ltd [2012] FCAFC 153. The Full Federal Court had dismissed the Commissioner’s appeal from a 2011 AAT decision that held that insurance premium income derived by a non-resident insurance company (incorporated in Vanuatu) was not sourced either directly or indirectly from Australia and was therefore not assessable to the company.

[LTN 109, 7/6/13]