Lyla Lindsey
Share transactions through the Australian Stock Exchange are recorded in the Clearing House Electronic Subregister System (CHESS). If you have the relevant records from your CHESS holding statement or your issuer-sponsored statement, you can select which shares you have sold and identify their original purchase price. If you bought the shares through a broker, you can ask the firm to supply you with records of your stock purchases. Alternatively, you can use an ASIC-approved information broker to find information about share capital.
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What You'll Learn
Share purchases through the Australian Stock Exchange
The ASX offers a range of products and services for trading, including shares, futures, exchange-traded funds, and real estate investment trusts. Trading on the ASX takes place during a pre-market session from 7:00 am to 10:00 am Sydney time, followed by a normal trading session from 10:00 am to 4:00 pm. The market opens with single-price auctions over the first ten minutes, with a random interval included to prevent the prediction of the first trades.
When purchasing shares on the ASX, investors can do so through a broker, who will charge a fee for the service. The ASX provides a "find a broker" tool to help investors locate a suitable broker. Alternatively, investors can use online platforms or mobile apps, such as CommSec, to trade Australian shares directly.
It is important for investors to keep records of their share purchases and sales, as shares bought at different times may have different costs, impacting their capital gains or losses. The CHESS system assists in record-keeping by providing monthly statements when there is a change in an investor's holdings. These statements include details such as share splits, consolidations, and returns of capital.
Additionally, investors can utilise CHESS Depositary Interests (CDIs) to trade shares of foreign companies on the ASX. CDIs provide the financial benefits of investing in foreign companies, while a depositary nominee company holds the product title on the investor's behalf.
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Employee share schemes
If you're invited to join an employee share scheme in Australia, you may be able to buy shares at a discount on the current market rate. This is also known as an employee share purchase plan, share options, or equity scheme. Companies use these schemes to attract, retain, and motivate employees, and to align employee interests with those of shareholders.
There are different ways of paying for shares, such as salary sacrifice over a set period. You may be eligible to receive shares as a performance bonus, or as remuneration instead of a higher salary. Larger companies typically offer 'ordinary shares', which give an equity investment in the company. In a smaller company, you may get dividends only, which means you don't get other shareholder rights, such as a vote at the annual general meeting.
There are likely to be limitations on when you can buy or sell shares. If you're paying for a share package over time, you might have to pay it off before you can sell the shares. You may have to give back or sell your shares when you leave the company. Your share package could come with other restrictions, such as meeting performance targets or staying with the company for a certain number of years. You could lose money if your shares go down in value or the company goes out of business.
Share transactions through the Australian Stock Exchange are recorded in the Clearing House Electronic Subregister System (CHESS). If you have the relevant records from your CHESS holding statement or your issuer-sponsored statement, you can select which shares you have sold and identify their cost. You need to keep details for each parcel of shares as they are separate CGT assets. When selling only some of your shares in a company, you need to be able to identify which ones you have sold and when you acquired them. This is important because shares bought at different times may have different costs, affecting your capital gain or loss.
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Broker-assisted purchases
- Contact the brokerage firm and request records of your stock purchases. They are obligated to send you confirmations of trades, which may include the original share purchase price.
- If the brokerage firm is no longer operational or has merged with another entity, you can contact the share registrar of your particular stocks. For example, if you owned shares in Coles, you can contact Computershare, their share registrar, with your shareholder reference number (SRN) or holder identification number (HIN).
- Check your emails for any confirmation of trades or purchase details from the broker.
- Review your records from the Clearing House Electronic Subregister System (CHESS). Share transactions through the Australian Stock Exchange are recorded in CHESS, and you can identify the cost of your shares by selecting the relevant records.
- If you have used a dividend reinvestment plan, each dividend reinvested has a "cost base" for capital gains tax calculations. You will need the cost and number of those shares, as well as the date they were purchased.
- If you have inherited shares as part of a deceased estate, you must use the market value on the day of the person's death, not the market value on the day you received the shares, for tax purposes.
It is important to keep records of your share purchases and sales to accurately calculate any capital gains or losses for tax purposes. Fees charged by brokers are typically a percentage of the value of the trade, so understanding the fees associated with your broker can also help estimate the original share purchase price.
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Crowd-sourced funding
CSF allows eligible companies to raise up to A$5 million per year, with each contributor providing up to $10,000 in exchange for shares. CSF can be structured as either debt or equity. If structured as debt, the company will need to repay the funds with interest at a rate agreed upon by the parties. If structured as equity, the company is effectively selling part of its business to those who contribute funds, giving them certain rights, including participation in future profits and voting rights.
There are tax implications for CSF, and the money raised may be considered assessable income that needs to be declared on a tax return. It is important to understand the tax consequences and seek professional advice when engaging in CSF.
To facilitate CSF, ASIC has published guidance for companies and intermediaries. Companies seeking to raise funds through CSF must understand their obligations, particularly as they may not have experience in making public offers of their shares. Intermediaries seeking to provide CSF services must hold an Australian Financial Services (AFS) licence and comply with unique gatekeeper obligations. ASIC has also published a template CSF offer document to assist companies in preparing their CSF offers.
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Australian Securities Exchange (ASX) tools
The Australian Securities Exchange (ASX) offers a variety of tools and resources for investors. These tools can help investors find the original share purchase price and make informed investment decisions.
One such tool is the ASX's interactive company directory, which can be accessed on the ASX website. Investors can search for a specific company by its code or name and find information such as the company's share price history, recent announcements, share registry details, and relevant statistics. This allows investors to research and analyse individual companies before making investment decisions.
Additionally, the ASX provides access to market data, including share prices, bond prices, and hybrid prices. This data is essential for investors to stay informed about market movements and trends. The ASX also offers analysis tools and reports to help investors interpret market data and make more informed decisions.
For those seeking a more comprehensive understanding of the share market, the ASX provides online education resources. These educational tools can help investors improve their knowledge and skills, enabling them to make more confident and informed decisions about buying and selling shares.
Furthermore, investors can utilise the services of brokers, who can provide advice and recommendations. Non-advisory brokers offer lower fees without providing recommendations, while full-service advisory brokers offer advice, research, and tailored investment plans at a higher brokerage fee. Investors can choose the type of broker that aligns with their level of knowledge and the level of assistance they require.
The ASX also provides access to MarketSource, a direct information service that provides real-time price data. This service is particularly useful for market professionals and distributors who require immediate access to pricing information.
By leveraging these tools and resources provided by the ASX, investors can make more informed decisions about their share purchases, including understanding the original share purchase price and staying updated with market trends and company announcements.
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Frequently asked questions
If you bought the shares through a broker, you can ask the firm to supply you with the records of your stock purchases. You can also refer to your holding statement, which you receive when you buy or sell shares in a company, for proof of ownership and for tax purposes. Share transactions through the Australian Stock Exchange are recorded in the Clearing House Electronic Subregister System (CHESS), so you can refer to your CHESS holding statement to identify the cost of your shares.
If the broking firm has merged or disappeared, you can contact the share registrar of your stocks. If you have been using dividend reinvestment plans, you will need the cost and number of those shares and the date they were bought. You can contact Computershare online with your shareholder reference number (SRN) or your holder identification number (HIN).
You can set up a free company alert through ASIC to get an email every time a company lodges information. You can also check the prices section of the Australian Securities Exchange (ASX) website for company information and announcements, or refer to business and finance media for company activities.
