% of Ownership in Managed Funds

[yadreamin]

I would like to know can you split ownership of managed funds and shares like property.
eg. Mr A. 10% owner Mrs.A 90% owner.

Lets say l buy $100,000 of Navra or Spann Funds [as examples].
These funds are income funds.[we hope]

Mrs A has the lowest income so she would benifit from increased income but still taxed at a lower rate.
Mr A has higher income but would benifit from tax deductions.

What would be the right way of doing this to get the best of both income at lower tax, and tax rebates for the higher income earner?

cheers yadreamin