Moving Shares!

[newbie trader]

Hi,

I have a question, just wondering if anyone could enlighten me...My mum owns stocks in a certain company and we wish to move them over to my commsec account from where they are currently (computershare I think). Are we even able to do this and if so, how?

N.T

 

[nunthewiser]

Yes .

As long as the transfer is in the same name it is fairly simple. Go to the commsec website and search for a "transfer " form . Or just give em a call . very simple procedure moving from broker to broker .

 

[nunthewiser]

Here ya go Bud ........... just fill the sucka in .

other forms here if NOT chess sponsored BUT issuer sponsored......http://www.comsec.com.au/Public_FrameSet.asp?Page=HTools

 

[newbie trader]

I'm sure you get this a lot but I LOVE YOU!!

N.T

 

[nunthewiser]

I'm sure you get this a lot but I LOVE YOU!!

N.T

LOL . nah im the resident wanka ...... But if you own a brewery we can take the matter further

Good luck with your stock market journey.

 

[YELNATS]

Yes .

As long as the transfer is in the same name it is fairly simple.

That's the crux of it. However, if this involves a transfer of ownership from mother to son, there's quite a bit more involved, and it can be achieved either via an on-market or an off-market sale/purchase transaction, either of which may have a capital gain/loss implication.

 

[newbie trader]

Yes the shares are in her name and she wants me to be able to watch them for her. That was my worry that they are in her name and she wants to transfer them to an account in my name.

N.T

 

[So_Cynical]

Yes the shares are in her name and she wants me to be able to watch them for her. That was my worry that they are in her name and she wants to transfer them to an account in my name.

N.T

That sounds like a transfer of ownership so would have tax implications.

 

[nunthewiser]

Yes the shares are in her name and she wants me to be able to watch them for her. That was my worry that they are in her name and she wants to transfer them to an account in my name.

N.T

The forms for that are in that link i supplied also ........ The rest re tax implications see an accountant.........OR just keep them in her name and just use her account to manage them for her.

 

[nunthewiser]

There ya go