Well aware of this, but in almost all cases foreign investors will get a credit against their local tax for Australian tax withheld. Hence Australian withholding tax is a wash. They don't get a refund in Oz, but a credit in their country of tax residence. Different than for Australian investors.
Furthermore, if APAC hasn't structured their shares through a holding where a DTA applies and particiaption exemption is applicable, then they were vastly asleep at the wheel, imho.
If MLX wants to do good for foreign investors, they should repay capital or enhance the buy back. That would indeed be favorable taxwise.
PS: I see that APAC is in a trading halt for an announcement on M&A.
MLX Price at posting:
71.5¢ Sentiment: Buy Disclosure: Held
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