‘Revenge Tax' Shift Revives US Appeal for Australia Mega Funds
Australia's A$4.1 trillion ($2.7 trillion) pension industry signaled relief over US plans to scrap the so-called 'revenge tax,' which would have increased levies on income from assets of foreign investors.
The proposal to lift taxes on US income of non-US businesses could have had a far-reaching impact on Australian pension funds, which have about $450 billion invested in the world's largest economy across infrastructure, equities, bonds, and other assets, according to industry data.
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