I intended cashing all my investments and transferring the proceeds to OZ when we emigrate in early 2010. However with the current weakness of sterling I've decided to only transfer enough for ongoing costs and leave the balance in the UK. This raises a point which I would appreciate someone clarifying if possible.
I understand that gains on investments such as ISA's shares etc are taxable in OZ from the date you arrive until the transfer takes place.However, the "Forex Changes" in 2003 seem to indicate that if you have an overseas bank account opened between 19/02/86 and 01/07/2003 the proceeds are not taxable on transfer to OZ. I'm sure my interpretation must be incorrect but would appreciate other views.

You do not say whether you are coming as a permanent or temporary resident.If temporary then income from assets left in the UK is not assessable for Oz tax.

If you are coming with PR then you have more to worry about than forex. All investments outwith Oz will need to be assessed to see if they will be exempt from the Oz Foreign Investment Funds (FIF)Rules. FIF Rules are very complex but most shares quoted on a recognised exchange will be exempt - much more problematic are things like Isas and managed funds unless these are quoted.

All of your investments will need to be revalued at the date you arrive to take up PR and will become the cost value for Oz tax purposes in assessing CGT if you sell any later. You will be subject to paying tax on all dividend income, CGT and also subject to the FIF rules.

There is a long piece elsewhere in this forum about the whole concept of 2003 and Forex which you should read.

If your investments excluding cash and your private home exceed $50,000 then you need to get your head round the FIF Rules and this will include any endowment life policies you may have which are also subject to the Foreign Life Policy Rules and form part of FIF.

I would suggest getting professional advice.