How Do I Sell My Telstra Shares? - Sell Shares Direct

Telstra Corporation Limited is Australia's largest telecommunications provider and has operated for more than 100 years from its roots.

Historically, it has always been a great performer for share trading on the Australian Securities Exchange (ASX). This makes Telstra's share price history and projection easily accessible. Because of how popular and large of a corporation Telstra is, having a number of shares from Telstra (TLS) is quite common among Australian investors.

Share Sell Direct is an online brokerage service that can sell Telstra shares at the best available market price using a simple and efficient process. Having an active share trading account or enlisting the help of a stockbroker can take time, effort and extensive expenses, which is why investing in online stockbroking is a great option for Telstra shareholders.

At Share Sell Direct, we can sell both your Issuer-Sponsored shares and CHESS-sponsored shares, depending on what kind of Telstra shares you have acquired. 

How Did You Acquire Your Telstra (TLS) Shares? 

Given Telstra's importance within the economy and stock exchange, many investors have shares of Telstra from a variety of acquisitions. While some may have shares in their superfunds, or were given them through inheritance or as a gift, many Australians have acquired Telstra shares when they underwent privatisation.

If you did acquire shares of Telstra as a part of its privatisation, your cost base may be one of the following:

• T1 in 1997 for $3.30 per share
• T2 in 1999 for $7.40 per share
• T3 in 2006 for $3.60 per share

These cost bases are made under the assumption that you did not choose to reinvest your dividends. If you did reinvest your dividends, your cost base will be different from this list.

How To Sell My Telstra Shares? 

The process at Share Sell Direct is as follows:

• Fill out the online form
• Verify your identity online with ID and personal information
• Supply your SRN and shareholder information
• We sell your shares from Telstra Corporation Limited
• Sale proceeds and brokerage fee will be sent through

You can look at your holding statement or dividend statement and locate your SRN or HIN . If you are unsure of your SRN (security reference number) or HIN (holding identification number), Share Sell Direct provides electronic search services to locate your SRN. Alternatively, you can access the relevant share registry (such as Link Market Services) to find your unique identifier.

For complex share sales that require additional legal document verifications, you may be asked to fill out another form or provide additional proof of identity. These kinds of shares could include jointly held shares, deceased estate, maiden names, private companies, and trusts.

At Share Sell Direct, you can rest assured that we will sell your shares at the best available market price with minimal brokerage fees and no hidden expenses.

What Information Is Required? 

For this process, you will need a copy of your holding statement or dividend statement for the Telstra shares you hold and wish to sell. Your online form will ask you to provide personal details such as your full name and Australian residential address that will match with your holding statement.

You will also need to verify your identity with a primary identity source, which could be an Australian driver's licence or an Australian passport. It is required to have an Australian residential address and an Australian identity form to buy and sell shares on the Australian Securities Exchange (ASX).

Receiving Proceeds From Your Telstra Shares

We will sell your shares on the market as soon as possible, and for the best price possible. Once the trade has been executed, the settlement of sale occurs as well as the legal transfer of ownership from you. The proceeds of the sale can be transferred as a direct deposit to your nominated bank account within a couple of business days.

Possible Tax Obligations

When you sell your shares you may have to pay tax such as capital gains tax. The capital gains tax payable when you sell Telstra Corporation (TLS) shares will depend on how long you have owned your shares as well as the number of shares you are selling. The best way to understand the tax rate you will have is by speaking to a tax professional.