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Hmm... I entered into an arrangement with an accountant with the dominant purpose being tax minimisation. So I could get hit with Part IVa just for hiring an accountant? The mind boggles... GP

Wouldn't the rent paid to live in the house have generated income back to the unitholders? GP

Thanks, Dale. Ultimately I hope it (still) works as Greg Vale noted, as that was my understanding when I set up my investment structure, and it was designed around that principle to some extent. Cheers, GP

Irrespective of the answer to my question, as long as you redeemed all the units before selling the IP, so that there were none on issue, then the CG should be able to be distributed discretionally anyway. The main issue I can see in that case is how the trust would fund the unit redemption...

Hi Dale, I'm checking on this with my trust accountant (NickM), as if this is true it's of some consequence to me. In the meantime I've been doing some research myself and have a document from Kevin Monro (although written by a Greg Vale) called "Trusts in Structuring". In the section on...

My HDT deed explicitly states that redemption must be for no less than the purchase price. Really? I was under the distinct impression that a special income unit holder had no entitlement to capital gain whatsoever - that's why they're INCOME units. Cheers, GP