My understanding is that basically you can only be up for CGT...

My understanding is that basically you can only be up for CGT when you sell the shares. However the sting in the tail is that this does not have to be for cash, it could be cash or shares, or bonds, or real estate or anything. Mostly though when you swap shares in one company for another in a takeover or merger, you can get CGT relief (ie no tax)if ATO accepts. Guess this is only partially applicable here.

Summary perhaps could be
VOTE YES - if you want to pay more tax