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Pension Funds May Qualify for U.S. Tax Exemption

Pension Funds May Qualify for U.S. Tax Exemption

Canadian government and private pension funds may benefit from new U.S. proposals

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Canadian government and private pension funds may benefit from new U.S. proposed regulations affecting foreign investment in U.S. real estate. Specifically, the U.S. Treasury recently issued proposed regulations to provide further clarity and guidance to when a pension fund qualifies as a "qualified foreign pension fund" (QFPF) that is eligible for a U.S. federal income tax exemption on gains from the sales of U.S. real estate, as well as real estate investment trust (REIT) distributions that are attributed to gains from dispositions of U.S. real estate. As a result of this change, qualifying Canadian pension funds and/or their subsidiaries may find U.S. real estate and REIT funds more attractive. 

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