| In an effort to bring Australia closer in line with international practice, the government may consider tax breaks on sovereign wealth funds that have passive investments in Australian assets.
As sovereign wealth funds rise in financial clout -- with an estimated worth of $4.2 trillion, or almost double that of private-equity assets -- the tax breaks reflect a sense of competition that is brewing among countries to obtain a greater level of foreign investment. Already, France, Canada, Japan, and Belgium provide tax exemptions for certain foreign investments..............................................Full Article: Source
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