ptialv,
Whatever part of profit that is not distributed, this is taxed at 46.5%.
In other words logic dictates that you owuld distribute all of it rather than pay the additional tax......usually. This would be the case for family trusts and discretionary ivestment trusts etc etc. However, the debt issues and the CNP/CER relationship, I believe are a unique situation.
comment on reits, page-53
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