My late father was the majority shareholder in an unlisted investment company which holds a substantial portfolio of listed shares which have a market value well above their purchase price. My sisters and I are are in line to receive his shares when his estate is distributed. I am considering establishing a family trust (for the usual sorts of reasons), and I am considering placing my shares in the investment company in the trust. What are the CGT implications of this? I know that if they were listed shares it would be a CGT event, but I am not clear on what happens with shares in unlisted companies.