Hi folks out there Oz (and here in UK),
I'm looking to migrate down to Adelaide from Cardiff, most likely next June. I've been working through a limited company in the UK for a while and have some savings in the company account.
My company is a one man band working in consultancy. If I pay the cash in the company account out in dividends I'll receive all those dividends and one some of that I'll have a personal tax liability. So if I pay it now I'll be due a tax bill.
I was advised by an accountant that if I closed the company in transit to Australia I could avoid that tax liability. If I closed the company in the UK I'd be liable for tax here, if I closed it in Oz I'd be due for tax there. But if I closed it in transit there would be no liability.
Has anyone done this, or knows if this is legal either in the UK or Oz. I don't want to break ant laws, but if it's legal, maybe...