I can't help with any of the preceeding questions as am new to the game myself. However I have a question regarding unit trusts and potential dangers when splitting units.

I have just a read a book that recommends (when negative gearing) issuing income units to the main income earner to gain maximum tax benefits from the loss and the capital units to the non (or low)-income earner so if you sell, minimum CGT applies. If this is a husband and wife, in the event of divorce (hopefully never happens), would setting up a trust this way leave the person with the capital units with the ownership of the property – or would the property still get split equally?

Thanks a lot for your help.
Jacki