The paper work.....arrrggghhh

[Family_Guy]

Thanks in advance for your replies

So i recently started buying shares. Been looking at them for 20 odd years and understand them ok, in my mind, to have a stab. I have goals and will bring that up later in another thread with some questions.

But for now......April was the first month i started buying. I have 7 trades to date and i haven't sold any yet. I want to but work has me on the road for now so i missed a few opportunities to sell at my goals. (no need to reply how to fix that up, that was my mistake)

I got home today from a week on the road and i have quite a few letters and forms to fill out.
- From the ASX of what i own
- Forms to fill out from most of the companies
- Some forms from Link and CS.

Some of these forms ask for TFN's and some are asking how i want divvies paid. Problem is, i don't intend to hang onto these shares.....(i hope)

So the questions......

- I only have one (ANZ) that has just gone ex-div today, i have not sent any forms in, so do i just expect to get a chq in the mail?

- Do i need to send in my TFN to link and CS if i don't intend to hang onto these shares?

- If i sold one of my parcels, lets call it GFF, that i have rec'd a welcome letter from and all the forms they ask me to fill in, and i sold tomorrow and perhaps purchased again when i thought the time was right, will i get those welcome letters and assoc. forms again?

(edit) - Is there a way to get my mail from ASX re the shares i own on email only or do they only send out paper? Do they send that stuff out at the EOM every month?

Once again, cheers for your replies.

 

[MichaelD]

- I only have one (ANZ) that has just gone ex-div today, i have not sent any forms in, so do i just expect to get a chq in the mail?

- Do i need to send in my TFN to link and CS if i don't intend to hang onto these shares?

- If i sold one of my parcels, lets call it GFF, that i have rec'd a welcome letter from and all the forms they ask me to fill in, and i sold tomorrow and perhaps purchased again when i thought the time was right, will i get those welcome letters and assoc. forms again?

(edit) - Is there a way to get my mail from ASX re the shares i own on email only or do they only send out paper? Do they send that stuff out at the EOM every month?

Most companies will send you a cheque if they don't have your bank account details. I have a vague memory of ANZ being different, though, and sending you a letter saying "give us your bank details, but until then we're holding on to your dividend" after the ex-dividend date.

You do not need to send your TFN to anyone, ever, if you don't want to. You MAY get hit with withholding tax on dividends if you don't (48% or so of the dividend is not paid to you, but to the tax department) - my experience is that this is rare for dividends.

Once you've filled in and lodged the forms once, they won't hassle you again if you exit and re-enter.

With both Computershare and Link you can set yourself up on their websites to do all of this mostly automatically. Saves a lot of hassle.

 

[Sir Burr]

- Do i need to send in my TFN to link and CS if i don't intend to hang onto these shares?

What I've done is register online at CS and Link. The TFN is automatically set for the share companies and when I buy shares I get on and select my bank account for payment of dividends and select NOT to receive company reports etc. Company notices I select "email" (if available) instead of by post.

Doing that I don't receive anything in the mail. I hate having my letterbox jambed full of useless stuff!

SB