taxable income

I dont see what all the fuss is about.

A trust is what is called a "look through" vegicle and prior to Bamford basically were required to distribute its income, Bamford changed that.

From a personal tax viewpoint in the case of the BJT distribution it is simply brought to account as assessable income in your return and a credit is given for any foreign tax credits, assuming the tax treaties between the countries allow this which is the case here.

You are only assessable on the distributions you receive, not those paid during the year and if you sell BJT then, assuming you have held it at least a year, 50% of the gain is brought to account in your return.

Yes I am an suitably qualified to comment.

Good luck to holders