In February 2011, the Australian Tax Office (the “ATO”) made a request of the Cayman Islands Tax Information Authority (the “Authority”) for information pursuant to Article 5 of the Australian Tax Information Exchange Agreement. The request was in connection with an active investigation into the Australian taxation affairs of Mr. Vanda Russell Gould (“Mr. Gould”) and Mr. John Scott Leaver (“Mr. Leaver”). The ATO had identified that Mr. Gould and Mr. Leaver and their respective associated entities had made multiple transactions with offshore entities registered in the Cayman Islands. The Cayman Islands entities that were identified were J.A. Investments Limited (“JA”) and M.H. Investments Limited (“MH”). The ATO was concerned that the transactions represented attempts by the Australian residents to evade tax properly payable in Australia by establishing offshore arrangements. The ATO believed that Mr. Gould and/or Mr. Leaver were the ultimate beneficial owners and controllers of JA and MH and had omitted income and/or claimed deductions in their Australian tax returns.
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Cayman Islands Tax Information Authority -v- MH Investments and another CICA 31 of 2013 G391/2012 (31 July 2015)