dieselau,
Not according to my accountant. Even if you just bought BJT, if the underlying asset held by the trust was sold for a gain, the gain passes down to you. Likewise you don't have to have held BJT for more than 12 months to get the CGT discount. BJT has to have held the asset for 12 months and if so the discount passes to you.
BJT
babcock & brown japan property trust
