before ask my Q, I pay taxes etc etc and am moving to oz with a plan to make a go of it.(migrating Nov this year)

we, my wife and I have peps, isa, mutual funds and direct share ownership. (we are not rich by the way!)

from my understanding have to tell ATO about all July next year and incur appropriate taxes.

if i forget about a few bits can they find out ?does anyone have any experience of this?

I am getting financial advice but would like the non accountant version aswell!

"A small investor exemption is provided for both direct and indirect interests in Foreign Income Funds. The exemption is only available if you are a natural person and your interest, together with those of your associates, in FIFIs, FLPs (life policies) and resident public unit trusts is $50,000 or less at the end of the financial year." This is from the foreign Investment Funds Guide available on the internet from the Australian tax office - www.ato.gov.au and then enter Foreign Investment Funds in the search box. It takes a lot of reading through. We have 2 endowment policies which will mature in 5 years time and 10 years time so we were worried about that but think we will fall below the 50,000 threshold. The usual advice is to transfer all your pensions funds to an Australian fund. Depending on your age also consider paying voluntary NI contributions so that when you are 65 you will get a UK pension. The pension in Oz is means tested. I plan to cash my ISA before going.