distribution to share holders, page-10

I am not an accountant..... But as far as i know it is part of the rules of a being a REIT that they dont need to pay company tax as they distribute 95-100% of there taxable income. This allows them to avoid company tax as the tax is paid by the share holders.....

this site seems to say something similar
http://money.howstuffworks.com/personal-finance/real-estate/reit.htm/printable


This is also in CER constitution.

What i dont understand is how they calculate there taxable income.......Anyway know how they come up with this figure????