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friendlydwarves

3,841 Posts.

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13/06/25

20:40

Post #: 79428987
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Originally posted by leasx: ↑

Hi Ejd99,

You're correct that we should all receive certificates however some brokers are very annoying to get information and deal with processes like IBKR. I think it's best to be on a HIN Chess broker as we go into the delisting. That could be commsec, stake, selfwealth, nabtrade etc but NOT IBKR, Superhero or others that use an omnibus HIN solution.

I personally always prefer to hold ASX shares under a HIN Chess solution as plenty of brokers have gone into admin in the past and I never want to deal with what others have done. Of course with overseas shares it's all under a custodial arrangement (often schemes in place too like SIPC for protection) so it's not a problem but I've had enough pain in the past with disorganised brokers and given a transfer takes very little effort and often at no cost it's easier to spend some time now and save the hassle. While I can't provide tax advice, as long as the beneficiary is the same, you won't have to rewait the period for the CGT discount by doing this, it's simply a change of brokers.

I would strongly suggest for SMSF you seek advice however my view is that due to SIS guidelines it will become costly and annoying to keep the shares in an SMSF, especially if your SMSF goes over $3 million due to Div296 valuations and potentially valuations requested by the auditor in general. It's much easier to transfer it via an OMT now as it's listed, even to your own entity which I've done. (Of course paying the market price from another entity such as your personal entity) I have also sought advice regarding the legalities of it and the tax experts recognise it is at arm's length and a valid endeavour for the benefit of the SMSF as per SIS guidelines. Keep in mind you *will* chrystallise your shares by doing this and your CGT discount period will reset.

Hope that helps, happy to answer questions where I can.

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Yeah it’s an absolute punish having in an SMSF assets that can’t be valued by reference to a market price. Been there, done that, don’t plan on doing it again.

PGH Price at posting: 77.0¢ Sentiment: Buy Disclosure: Held
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