Yes, you can, but for all tax purposes, it will be deemed to have been sold at market value.

So, why mess with the price?

You will probably be selling to a company owned by the trust. If the company does not have the money to pay for the property then it will owe you the money and s7C of the Income Tax Act says that you must charge interest at least at the official rate.

That interest is taxable in your hands. So, the lower the actual selling price, the lower the Conveyancer’s fees and the lower the tax on the interest.

This means that there is an advantage to selling below market price.

My only proviso is that you could be deemed to be in contravention of the anti-avoidance legislation s80, which says that if the main reason for a transaction is the avoidance of any tax, then it is impermissible.