Hi, What are peoples thoughts on tax implications for LICs and ETF in regards to accumulation phase and then to eventual passive income phase. If you are in the accumlation phase, wouldn't you be better off to be 100% growth e.g. VGS and then sell paying 20% capital gains then go 100% VAS for example when you want to then live on the income. As someone in the accumlation phase, and in the 37% tax bracket, it does make sense to buy 100% VGS then take a DRP and pay the additional tax on that income. What are peoples opinions on this and what would be the "ideal" strategy if your end goal in 10-20 years is to have as large as a portfolio as possible.