Richard Boyd Barrett (Dún Laoghaire, People Before Profit Alliance) | Oireachtas source

I wish to ask one question on that. I will come back on the generality of the issue later. If one of these funds does not distribute dividends but uses any income it derives on the investment in property, could it then buy more property with that, and because it is not being distributed to the investor, it would not be taxed? As long as the extra income it is generating from rent stays within the vehicle, that money could be used to buy more property and that would not be taxed. Am I right?