"And a move that will benefit Australian property trusts will see the Federal Government cutting the amount of tax overseas investors pay on dividends from managed funds to 7.5 percent to encourage investments in real estate trusts.
The move will enhance the attractiveness of Australian property trusts, such as Westfield, to foreign investors. It could also improve the prospects of the troubled Centro finding buyers overseas for its Australian shopping malls. The new measure won't apply to investors living in countries not a party to a tax information exchange arrangements. That means investors many tax havens will miss out."
