taxable income, page-27

Ferd

You might want to have a look at the taxation commentary on BJT's own website, which makes the position pretty unambiguous.

EXTRACT FOLLOWS (especially note the last sentence)

Taxation of Distributions

Unitholders will be required to include their share of the taxable income of the Trust in their assessable income in the year in which their entitlement to the income of the Trust arises. A Unitholder's share of the taxable income of the Trust for the year ended 30 June must therefore be included in the Unitholder's assessable income for the financial year ended on that date. This applies irrespective of whether the Unitholder's share of the income of the Trust is distributed (paid) to the Unitholder in a subsequent year or reinvested in the Trust.

LINK DETAILS FOLLOW

http://www.bbjapanpropertytrust.com/bjt-investor-information/taxation-information.aspx

Good luck all.