Dr. Brian Keegan:

A grey area would be if there was a company which was involved in property management and had perhaps one or two properties in its portfolio. Is the income from those properties passive? Is the investment the company has made in properties passive? If the company has a dozen properties in its property portfolio, is actively managing them, buying here and selling there and doing those kinds of things, has it moved from a passive return on a property investment to a trading return because it is actively dealing and actively managing those properties? That would be a typical grey area.