Hi there - newbie here gratefully seeking some guidance. I donít expect any easy answers but Iím very keen for any guidance on the best type of financial professional to seek help from.
The situation is that my brother and I inherited a share portfolio from our late mother. My brother has already sold some of his shares (BHP and CBA), but is now struggling to work out CGT implications as we donít know when the shares were acquired (pre or post 1985).
Does my brother pay CGT from the date that he acquired the shares (1/7/2010) or does he pay CGT from when our mother acquired the shares? If itís the latter, how do we find out when our mother acquired the shares (we currently have no paperwork on this)? And how does this work if she was acquiring shares progressively (presumably at different prices)?
A second issue is that we know mum inherited some shares from her father around 1987. I donít have any HIN/SRN details for him. Do I need to go back and determine when he bought those shares? It gets tricky because I understand that pre í98, many share records are not electronic, and there is a considerable fee to investigate further. Has anyone had experience with this?
I have found HIN / SRN details for my mum, which could help. Unfortunately I donít have any other information from the executor of the estate. Thanks in advance for any guidance you can offer.