Q. I have inherited from my father's estate units in two property trusts. One is listed on the NZX and the other on the ASX. I have never owned shares before. What is the difference between a "listed property trust" and a "listed company"? If I sell the Australian units will I have to pay any Australian taxes on the proceeds and is there any problem in bringing the money back to New Zealand?
Saturday, December 6th 2003, 11:16AM
by The Landlord
A. The property trusts to which you refer are unit trusts - the units in which are listed on the relevant stock exchanges.
A unit trust is an investment vehicle in which the funds of investors are pooled.
The interest of investors in the pooled funds is divided into units with the interest of each individual investor being determined by the number of units they hold.
