Because of divorce I am transferring shares held in joint names with my ex at Commsec to a newly created Commsec account in my name only. Will this incur CGT, I'm not selling anything?
The off market transfer form requires me to put an amount in the "consideration section", what should I add here? There is no cost except for the transfer fees so I was going to enter zero?
Thanks
If the transfer is part of the settlement, and you are getting all of the joint shares, then your cost base will be the original cost base of all of the shares.
If you are only transferring your half, then your cost base remains as only your half.
Consideration is usually shown as market value - but that has no bearing on CGT in this case. The transfer fees will add to your cost base.
If the transfer is part of the settlement, and you are getting all of the joint shares, then your cost base will be the original cost base of all of the shares.
If you are only transferring your half, then your cost base remains as only your half.
Consideration is usually shown as market value - but that has no bearing on CGT in this case. The transfer fees will add to your cost base.
Thank you for your response @Bruce4Tax
Settlement was done years ago but the address and holdings change wasn't completed. In my tax statement I have reported the total dividend each year.
I am getting all the shares, current market value is $20k, transfer fees will be $108 (2 share holdings at $54 each) so I simply enter $20,108 in the consideration field?
I hope I'm not being a pain but sometimes my understanding is lost in written words without enough detail :-)
15 Apr 2026 · 8 min read time
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