The prime minister deserves a bit of verballing over his use of the Caymans tax haven. Truth is though, most Australians are complicit through their super fundsLabor gave Australian politics a gentle Caribbean flavour this week by accusing Malcolm Turnbull of using an entity based in the Cayman Islands tax haven for some of his very considerable investments.
The Caymans only genuine claim to fame is as a place where tax liabilities go away. Corporations (including all the worlds biggest) and individuals (including the super-wealthy) use tax havens. Some arrangements can be diabolically complicated but the fundamental principle behind tax havens is pretty simple.
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Source: theguardian.com