Guys,
I have been looking into investing in LICs and was hoping you could clarify the treatment of Capital Gains earned by the company.
Are these gains treated like any other income and taxed within the company with this tax passed on via franking credits or are these capital gains able to be passed on to investors who can then apply the 50% discount if the asset was held greater than 12 months, similar to managed funds?
Thanks for your help
Cheers
Rhys
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