Details
Shares are transferred (e.g. sold) from one member to another or new member. A Form 484 is required to notify ASIC of this change within 28 days of the transfer.
When is a Share Transfer Required?
A share transfer is required whenever there is a change in the legal owner of the shares.
This includes situations where:
- Shares are transferred between individuals or entities
- Shares are transferred into or out of a trust
- The trustee of a trust changes
Trustee Changes and Share Transfers
If shares are held by a trust and the trustee changes, you must process a share transfer.
Even though the trust itself remains the same, ASIC treats a change of trustee as a change in the legal owner of the shares. As a result, a share transfer is required
Navigation
| From the Main Toolbar, go to Company. | |
| Select the Company from the list. | |
| Select Shareholders |
Click Add Transaction +
Select Share Transfers
Instructions
CAS 360 will display the Share Transfers screen.
| Field | Explanation |
|---|---|
Transaction Date |
Input the date of the transfer |
| Transfer From | In the Transfer From Field, CAS 360 will display a list of the company's current shareholders |
| Beneficial Owner | CAS 360 will automatically prefil this field if there is a beneficial owner. |
Transfer To |
Begin typing the new shareholder's name. CAS 360 will begin searching the Global Contact screen for the person. If the Contact has not been previously added to the Global Contact screen, their name will appear. Click + Add New to add a new contact. |
| Beneficial Owner | Click the toggle to add a beneficial owner from the contact screen if one applies. See beneficial owners for more information |
Share Type |
In the Share type field, CAS 360 will display a list of the share types the shareholder holds |
Number Of Shares |
Input the Shares transferred |
| Consideration Paid Per Share | Input the amount paid for the transfer of the shares |
Number Of Shares |
Input the Shares allotted |
Meeting Status |
Select the meeting status of the member which will appear on the Resolutions. |
| Notes | Notes can be added in the box displayed. Notes will not feature on the register of members. |
Click Save
Common Questions
Company must exist as a Contact
The Transfer To field searches CAS 360's Global Contacts database, not the list of companies you manage in CAS 360. Having the receiving entity set up as a company record in CAS 360 does not make it selectable as a shareholder.
For a company to appear in the Transfer To dropdown, it must be added as a Contact with the Company entity type — not just exist as a company being administered in CAS 360.
- 1. Go to Contacts > Global Contacts
Open the global contacts database.
- 2. Search for the receiving company's name
Check whether it already exists as a Contact.
- 3. If it doesn't appear, click Add New +
Create it with entity type Company.
- 4. Return to the Share Transfer screen
Search for it again in the Transfer To field — it will now appear.
See Global Contacts for more on adding and managing contact types.
Consideration paid does not automatically populate on Form 484 Section C4
The amount entered as Consideration Paid Per Share is not what appears in Section C4 of Form 484. ASIC requires the amount shown to match the value already recorded against those shares on ASIC's database — the value the shares were originally issued at (e.g. at allotment or subscription), not the price the new shareholder actually paid.
For a worked example and full explanation, see Why is consideration of a share transfer not filled onto Form 484.
If you need the actual consideration paid to appear somewhere, CAS 360 supports showing it on the share certificate instead — select the relevant option from the Options menu next to Share Certificate on the Document Production screen.
Required for electronic lodgement
Section C3 doesn't need to be filled in for a manual lodgement of a share transfer. However, ASIC requires it when the form is submitted electronically — the total number of shares for the company must be included, or the lodgement will be rejected.
That's why CAS 360 automatically includes the share details in Section C3: to meet ASIC's electronic filing requirement, even though it's optional for paper lodgement.
For more detail, see Section C3 is printing on Form 484 for a share transfer when it is not mandatory.
A trust or SMSF cannot legally hold shares
A trust or SMSF is not a legal entity and cannot be recorded as the shareholder. The shares must instead be held by an individual or company acting as trustee, with the trust or SMSF recorded as the beneficial owner.
When transferring shares to a trust or SMSF, select the trustee (person or company) in the Transfer To field, then add the trust or SMSF as the beneficial owner using the Beneficial Owner toggle. See beneficial owners for more detail.
For a full walkthrough with an example, see Transferring or Allotting shares to a trust or SMSF.
Forms Prepared
CAS 360 will display the Document Production screen and automatically select the documents required:
- Registers – Members
- Directors Meeting Minute or Resolution
- ASIC Form - Change to Company Details Form 484 Section C
- Allotment Journal (optional)
- Share Certificates
- Transfer Journal
- Share Transfer Form
- Notices of Beneficial Ownership (only if a Beneficial owner was selected)
- Declaration of Trust (only if a Beneficial owner was selected)
- Members Meeting Minute
- Members Consent
CAS 360 allows you to prepare documents and then notify ASIC through electronic lodgement via the Documents Screen. For more information on how to do so, click here.
Printing Share Certificates after Share Transfer
If a share certificate has not been generated correctly after processing a share transfer, you can update the certificate settings:
- From the Shareholders screen, locate the transfer
- Click Options > Edit next to the transfer
- Scroll down to Certificate Details and expand the section
- Change the certificate for the transferor from None to Balance
- Press Save
This will allow the appropriate balance share certificate to be generated for the transferor.