How Do I Sell My Wesfarmers Employee Shares

So you’ve got Wesfarmers employee shares and you’re ready to sell. Navigating this process, especially for the first time, can seem confusing.

But don’t worry, you’ll learn everything for a quick, secure sale and understand the associated fees. Whether you’re a novice or a seasoned investor, learning how to sell Wesfarmers employee shares just got easier.

How Do I Sell My Wesfarmers Employee Shares?

There’s a simple two-step process:

1. Fill out this quick online form.
2. We will need to verify your identity online. 

Don’t worry, it’s not complex or lengthy and can be completed in a few minutes.

If you decide to go ahead and sell your Wesfarmers shares, the service fee is $125 plus 0.5% per holding. We don’t charge any upfront fees, our brokerage fees are subtracted from the share sale.

We work with you as your partner so you can be assured of a quick, secure, and efficient sale of your Wesfarmers employee shares.

Timeline for Share Sale Process

After deciding it’s the right time to sell shares based on the value of your shares, you’re probably wondering how long it will take to receive the proceeds from your Wesfarmers share sale.

Generally, once submitted, your shares are sold within 1-2 business days. This quick, secure process ensures you capitalise on the best available market price.

After the sale, the settlement period typically lasts for two days (T+2). This is the standard time for the buyer to make the payment and for you to deliver the shares.

Once the settlement is complete, the proceeds from your share sale will be transferred to your chosen bank account. Please note, any fees or charges will be deducted from this amount paid.

Determining Your Wesfarmers (WES) Shares Value

Before you sell your Wesfarmers shares, you might want to determine their current market value. This informs you of what you can earn from the sale.

To do this, you’ll want to check the latest share price for Wesfarmers on the Australian Securities Exchange (ASX) where it’s listed. Keep in mind that share prices fluctuate throughout the day due to market activity.

You can also use online financial platforms or news sites for this information. It’s important to note, that the total value of your shares is the current share price multiplied by the number of shares you hold. Knowing this value will guide you in deciding whether it’s the right time to sell.

Eligibility Criteria for Selling Shares

To sell your Wesfarmers employee shares, it’s crucial to understand the eligibility criteria. This includes being an Australian citizen, a tax resident, and currently residing in Australia.

You’ll need to provide information about your shareholding. This includes your Security Reference Number (SRN) , the name of the company the shares are held in, the stock code, and the number of shares you wish to sell.

If there’s a second shareholder, you’ll need their full name, occupation, mobile number, email, and Tax File Number (TFN). Remember, your identity will be verified online. This process ensures a secure and efficient sale of your shares.

Ensure all details are accurate to avoid any disruptions or delays in the selling process.

Factors to Consider Before Selling

While you’re assessing your eligibility and preparing to sell your Wesfarmers employee shares, it’s just as important to consider a few key factors that can significantly impact your financial outcome.

Market conditions: These can affect the share price, so it’s advisable to keep an eye on the financial situation of the stock market and economic news.

Your tax position: Capital gains from selling shares may be taxable, so it’s worth getting professional advice from a tax professional.

Financial goals: Are you selling to fund a major purchase or to diversify your portfolio? Selling shares is a great way to reach your personal and business goals.

Restrictions: Remember to check if there are any restrictions or penalties for exiting the employee share scheme early.

These considerations can help you make an informed decision.

Wesfarmers: An Overview

As an employee or former employee, at Wesfarmers, one of the largest companies in Australia. Headquartered in Perth, Western Australia, Wesfarmers also provides chemicals, fertilisers, and safety products.

Wesfarmers was founded in 1914 to aid Western Australian farmers and in 2016, it topped the charts as the country’s largest revenue-earning company, surpassing even Woolworths and BHP.

Around 220,000 employees make Wesfarmers the largest private employer in Australia. That’s quite a testament to its size and reach.

Frequently Asked Questions

What Happens to My Wesfarmers Shares if I Leave the Company?

If you leave Wesfarmers, you’ll still own your employee shares. They’re yours to keep or sell. However, you’ll need to manage them independently, as your ex-employer won’t handle them on your behalf anymore.

Can I Transfer My Wesfarmers Employee Shares to Someone Else Instead of Selling Them?

Yes, you can transfer your Wesfarmers employee shares to someone else. It’s usually a simple process. However, you’ll need to contact the share registry to arrange the transfer and ensure it’s done correctly.

Are There Any Tax Implications When Selling My Wesfarmers Employee Shares?

Yes, there are tax implications when selling your Wesfarmers employee shares. They’re considered capital assets, so you’ll likely face capital gains tax on any profit made from the sale. Always consult a tax professional.

How Can I Find Out the Exact Number of Wesfarmers Employee Shares I Own?

To find out the exact number of registered Wesfarmers employee shares you own, you’d typically check your shareholding statement or log into your share registry account. Contact Wesfarmers directly for further assistance if necessary.

If I’m Not Currently Residing in Australia, Can I Still Sell My Wesfarmers Employee Shares?

Even if you’re not residing in Australia currently, you can still sell or trade your Wesfarmers shares. You just need to verify your identity online and comply with our selling process.