I'm about to buy some BSL shares with the entitlement scheme, to the amount I'm entitled to. On top of that you can apply for more then your entitlement.
A family member wants me to apply for the extra shares. If I apply for and get 3225 shares on top of the entitlement and he wants to sell it later at a profit. I will then sell that amount of my shares (or his shares).
Where I need some help. I'm concerned about getting the costs right I will sell then transfer the money to him but less the cost of doing it all, ie. brokerage and future tax. Is this a fixed rate? And I read somewhere here 1.5% Medicare levy for CGT.
I'm keen to help him out but don't want to do it if I can't work out exactly the costs. I don't anyone to end up in the red. I hope that makes sense!
Has anyone else been in a similar situation? If so, how did you do it?