I have a portfolio of shares from 5 companies that I have collected from employee issues, mutual fund share issues etc. Common names like Telstra, AMP etc. I want to sell all the shares at the same time as a one off sale. Can anyone tell me if I will be hit with a brokerage fee for each batch of shares? The entire portfolio is currently worth under 30K & some online brokers are quoting $55 for transactions under 30k but I am thinking this is for a batch of shares of the one company to the value of 30K. Anyone?
One off selling
- Thread starter 2wartz
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You will find that you have to raise an order for each stock which will attract a fee for each order traded. You cannot raise an order for a basket of stocks and pay one brokerage rate.
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Also look at Capital Gain implications. Read the attached ATO guide that specifically mentions shares received "for free" e.g. like AMP did years ago.
Page 6, New Terms.
"While we have used the word ‘bought’ rather than ‘acquired’ in some of our examples, you may have acquired your shares or units without paying for them (for example, as a gift or through an inheritance or through the demutualisation of an insurance company such as AMP, IOF or NRMA, or a demerger such as the demerger of BHP Steel Ltd (now known as BlueScope) from BHP Billiton Limited). If you acquired shares or units in any of these ways, you may be subject to capital gains tax (CGT) when you sell them or
another CGT event happens.
Similarly, we sometimes refer to ‘selling’ shares or units although you may have disposed of them in some other way (for example, giving them away or transferring them to someone else). All of these methods of disposal are
CGT events."
Page 6, New Terms.
"While we have used the word ‘bought’ rather than ‘acquired’ in some of our examples, you may have acquired your shares or units without paying for them (for example, as a gift or through an inheritance or through the demutualisation of an insurance company such as AMP, IOF or NRMA, or a demerger such as the demerger of BHP Steel Ltd (now known as BlueScope) from BHP Billiton Limited). If you acquired shares or units in any of these ways, you may be subject to capital gains tax (CGT) when you sell them or
another CGT event happens.
Similarly, we sometimes refer to ‘selling’ shares or units although you may have disposed of them in some other way (for example, giving them away or transferring them to someone else). All of these methods of disposal are
CGT events."
