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  1. #1
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    Default Advice re selling shares

    Not expecting many replies on this one, but I thought I'd give it a shot!

    I have had shares for about 12 years which were given to me by the company I worked for at the time. At the time they were worth only $5 each but now they are worth over $30 each.

    I'm at the point now where I'm thinking of selling them so I can put the money towards our savings for a house deposit.

    Obviously I want the best price for them - does anyone have any advice concerning the best way to go about selling them?

    If anyone has personally sold shares I'd love to hear about it

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    I'm in a similar position. I bought Telstra shares through a public release, and thus never used a broker. Now I don't know how to sell them.

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    Anz have an account you can set up to sell shares.

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    Most big banks have an online share trading account. Once you open it you can transfer your shares in and then you can sell however many shares you want whenever you want. Just call your bank and ask or look on their website. Good luck

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    We went to a broker. Only cost us 99.00 and they did it all for us and sent the chq when it was all sorted.

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    Hi I work at a stockbroking firm. If you just have the one parcel of shares you want to sell & don't envisage buying more or needing advice on the sale, then an online broker would be quickest & easiest I'd say (ie e-trade, commsec).
    If you'd like to speak to an adviser (stockbroker) & require some advice re your investments etc, then you'd be best to go thru a broking firm. You pay more for brokerage, but that's because you get the advice. I think online brokers normally charge around $30-$50 brokerage. The brokerage just comes out of the sale proceeds, so you don't have to actually 'pay' it, if you know what I mean. Full service broking firms will charge around $125 plus GST, as a minimum. Depending on the value of shares you're selling. I hope that helps!!

  7. The Following User Says Thank You to mrsleesey For This Useful Post:

    Mod-Degrassi  (30-03-2013)

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    We have a substantial share portfolio and have only recently signed up with nabtrade as their fees are very very good. Obviously if you sell your shares for $30 and they originally cost $5 then you will have to pay capital gain tax but given you have held them for 12 years you will be entitled to a 50% deduction in this capital gain tax which gets added to your taxable income. You are probably aware of all these things but given its nearly April I'd look at what your current fiscal taxable income is likely to be and what next fiscal years may be as this could determine when to sell I.e if your taxable Income is likely to be less next fiscal year then hold off a bit and sell after June 30.

    Most companies charge % to sell your stock and I'm very happy with nabtrade.

    Obviously selling at a high is the best so look at your stocks 52 week high and low and factor that into your equation.
    If you want to pm me which Shares you're looking to offload I can guide you a little (what I would do if I held those particular shares).

    Good luck!

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    Mod-Degrassi  (30-03-2013)

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    Thanks everyone!

    Laurenk - I will PM you

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    Quote Originally Posted by Laurenk View Post
    We have a substantial share portfolio and have only recently signed up with nabtrade as their fees are very very good. Obviously if you sell your shares for $30 and they originally cost $5 then you will have to pay capital gain tax but given you have held them for 12 years you will be entitled to a 50% deduction in this capital gain tax which gets added to your taxable income. You are probably aware of all these things but given its nearly April I'd look at what your current fiscal taxable income is likely to be and what next fiscal years may be as this could determine when to sell I.e if your taxable Income is likely to be less next fiscal year then hold off a bit and sell after June 30.

    Most companies charge % to sell your stock and I'm very happy with nabtrade.

    Obviously selling at a high is the best so look at your stocks 52 week high and low and factor that into your equation.
    If you want to pm me which Shares you're looking to offload I can guide you a little (what I would do if I held those particular shares).

    Good luck!
    what is the rate of the capital gain?

    let's say, the tax rate is 25% does it mean... (assume she has 1000 share. orginally at $5 now $30) which mean, 30000-5000=25000*25%=$6250 tax?


 

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