I'm not sure that works as the sell side is with Interactive Brokers and they hold the shares through a Nominee Company rather then on the CHESS system. The buy side is nabtrade so that is OK.
IB do allow share transfers but the buyer and seller must be the same entity (have the exact same name). In my case the seller is me personally and the buyer is a Family Trust.
I have looked at Nabtrade and they do allow Off-Market Transfers, but I am awaiting from IB to hear if they will accept that if initiated by Nabtrade.
One thing though and I hope someone can help me on this. On the Nabtrade form it has a field for the consideration to be paid. How does this work in regards to tax. If say I put the consideration based on today's approximate price of 0.18 and by the time the forms are processed and executed the price has moved to 0.20, will my capital gains tax on the sell side be based on 0.18 or 0.20? I presume I cannot specify just any price and expect the ATO to except it as that would allow capital gains shifting between two different entities.
VXR Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held