Join our investing community

selling shares help....

Discussion in 'Shares' started by cassigirl, 3rd Dec, 2009.

  1. cassigirl

    cassigirl New Member

    Joined:
    3rd Dec, 2009
    Posts:
    2
    Location:
    melbourne vic
    Hello.
    I am new to shares & therefore have no idea. I was wondering if anyone could help me out in anyway.........
    We are going to sell some Woolworths shares that we were given on a 10 year loan from Woolworths. The dividents went to paying the loan off. We have not paid any funds (until now) to pay for them.
    They were purchased/allocated to us in jan 01 (husband) 330 shares @ $8.11 and may 03 - 470 shares @ $12.92 for me.

    We are going to sell them after we pay off the loan.
    The current price for the WOW shares is $28

    I guess what I want to know is how do we go about selling them & then how do we work out capital gains tax?


    Thank you for any advice you can offer.....
    Regards,
    Sandi :)

    me - 470 @ 28 = $13160 less what "purchase" price was $6072.40 =7087.60 so I figure 50% of that tax free so $3543.80 would be taxable???

    husband - 330@ 28 = 9240 - 2676.30 = 6563.70 so 3281.85 would be taxable???
     
    Last edited by a moderator: 4th Dec, 2009
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Have you sold your shares yet?
    There are many online brokers you can use but since you won't have an account with them they'll ask you to fill out a form and to follow a specific process

    Here is some info from CMC

    Share Trading - One-off Sale Facility
     
  3. Rob G.

    Rob G. Well-Known Member

    Joined:
    6th Jun, 2007
    Posts:
    717
    Location:
    Melbourne, VIC
    If these were acquired under an employee share scheme then the CGT rules are complicated and depend on any elections you might have made in the year you were given them.

    Cheers,

    Rob
     
  4. cassigirl

    cassigirl New Member

    Joined:
    3rd Dec, 2009
    Posts:
    2
    Location:
    melbourne vic
    Thanks for your replies!!!
    I guess I will have to find a financial adviser or see my tax guy before I see the shares!!!! I had hoped it might be a nice easy process, but I should have know better than that! lol

    Thank you again for the help.
    Sandi :)