Thanks for the info.  I found an interest post that covers this in some further detail. 

http://www.somersoft.com/forums/showthread.php?t=26532&page=4

Of particular interest is the post from the 27/07/06.  One would expect that by capitalising interest on a prepay in advance loan would qualify?

Thanks for everyones feedback.  I like the idea of a unit trust but dont standard trusts have a 80 year time limit.  Apparently the C&N trust is infinite?  Are they costly to set up.  Terry, are you aware of a good property accountant in Brisbane who could set this up.  Much appreciated.  Cheers

so its possible to use a simple unit trust and still be entitled to structure for negative gearing?