The tax issue is a nasty one for the future, & frankly seems to undermine the tax rationale of a REIT. The capital gains liability could hamper BJT's 'property trading', and if a substantial tax liability does exist for Aus investors that is going to reduce demand for BJT shares.
I am also not an accountant, but wonder if any likely substantial downward portfolio revaluation as of 30 June 2009 could offset all (or more) of those capital gains.
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