RE:RE:special distribution No - the number of units we hold and the total units remains the same post consolidation - therefore % ownership remains the same.
The tax burden is simply being transfer to the unitholders. Latent taxes at the Trust level have been realized during the year and are passed on to us the unitholders via "distribution." As a result the latent tax liability at the Trust level decreases and the Trust, in theory, becomes more valuable. We personally become less valuable (net worth decreases) by the tax burden that we pay instead of the Trust. It's ultimately a wash.