Off Market Transfer Assistance

[taomech]

Hello all, hoping someone will be able to provide assistance.
My mother currently holds 12 stocks with CommSec, CHESS. She would like to transfer these shares into my name, I am with NAB trade.
So far my options are simply selling them and rebuying, or an off market transfer.

Selling idea would cost approximately $40 per holding. I am not sure about the cost of the off market transfer. Computershare states that if the seller is the same for multiple holdings, a fee of $55 only needs to be paid once.
CommSec however states that the $55 is payable for each holding, which will cost me significantly more.

Would someone please be able to help me identify what is the cost efficient way of going about this? And whether the $55 is per holding?


Thank you in advance.

 

[burglar]

Hello all, hoping someone will be able to provide assistance.
My mother currently holds 12 stocks with CommSec, CHESS. She would like to transfer these shares into my name, I am with NAB trade.
So far my options are simply selling them and rebuying, or an off market transfer.

Selling idea would cost approximately $40 per holding. I am not sure about the cost of the off market transfer. Computershare states that if the seller is the same for multiple holdings, a fee of $55 only needs to be paid once.
CommSec however states that the $55 is payable for each holding, which will cost me significantly more.

Would someone please be able to help me identify what is the cost efficient way of going about this? And whether the $55 is per holding?


Thank you in advance.

Do not quote me but I believe that the brokers can transfer between themselves at minimum cost to you.
Ask each broker if this is so.

 

[ROE]

Do not quote me but I believe that the brokers can transfer between themselves at minimum cost to you.
Ask each broker if this is so.

Nope, it used to be not any more ...each transfer cost $55 as they have to do some red tap before the transfer and hence the charge.

 

[Craton]

Wow, last time I did this we still had Stamp Duty.

Without searching, from memory a transfer on or off market, either way a CGT event has occurred. Correct?