tullow price aust dollar, page-17

Hi Complex,
I agree with your strategy and planned on doing the same myself. Pay CGT here on cash part of buyout minus purchase price.
Rollover scrip for scrip part to Tullow shares and pay CGT here only on final AU$ sdale price minus original HDR purchase price.
This sounds fair to me, hope it does to the ATO.

My next question would be then, is it necassery to open a channel isalnd account for temporary banking of share sale proceeds? If this deposit is not subjuect to UK CGT tax then any UK bank account would be fine. Or does the UK bank have to automatically withold tax on the amount in the account upon transfer to Australian bank?
I'm not sure.

Cheers, Glenn