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  1. #1
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    Default How does one go about selling shares?

    Thinking of pooling in the last of our excess funds - never sold shares before and was wondering what the process is, how to find out how much they are worth and what the fees are.

    Thank you.

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    assuming they're listed, you can check the share price on the ASX website. just go to the prices section and type in the share code. eg: Telstra is TLS.

    once you know the market price, multiply the number of shares by the price. this is your market value. you'll pay brokerage when you sell.

    do you know your SRN/HIN? you can log into the share registry with that info. might tell you a bit more.

    I assume you've been receiving dividend statements and declaring these in your tax returns (if the shares pay dividends).

    any idea who your broker is? if it's an online one like commsec or e-trade you can just log on and place a sell order right away. settlement is 3 business days so you'll get the funds on Thursday assuming you sold today.

    if you've got an actual broker (like one of the big brokerage firms), you'll need to contact them and instruct them to sell on your behalf. their brokerage is usually more than if you sell via commsec etc.

    how did you buy the shares? that's usually the best clue of how to go about selling them!

    good luck!

  3. The Following 2 Users Say Thank You to turquoisecoast For This Useful Post:

    Little Ted  (10-08-2015),Mod-xkwzit  (10-08-2015)

  4. #3
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    Thank you. I'll have to find out who the online broker is - might have to check the paperwork. To the filing cabinet...

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    you'll need the purchase and sale info as well for next year's tax (to calculate your cgt) so keep that handy after you've sold the shares.

  6. The Following 2 Users Say Thank You to turquoisecoast For This Useful Post:

    lilypily  (10-08-2015),Little Ted  (10-08-2015)


 

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