GOD GIVEN WISDOM

What Shareholder Documents can be Discarded and When

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This was an impromptu interview recorded in the hope it helps a lot of people. I wish I had taken the time to look in a mirror then change and put some makeup on. Ron arrived at my home with his 4cm thick Telstra file wanting help with identifying the documents he needed to supply certified copies of to Commsec to sell some of his Telstra shares through them. In the interview I explain how they have asked for the wrong documents to be filled in and he only needs to pay $20 not $130. He followed my advice and found it very easy. I decided to record this when he asked could he discard anything from his file. When I specify in the interview the number of years documents need to be held as five years, I am playing it safe as some people have tax returns with trust income and they fall into the four years from date of issue of the Australian Tax Office Tax Assessment notice, other people are in the two years from that date category. Discarding Managed Investment documents from your files is more complicated than this interview which relates to any direct investment in shares. Managed Investments show on documents as “units” rather than “shares”.