Shares issued for less than face value
How do I record the amount actually paid for shares in a share allotment when the amount paid is lower than the original share value?
eg. 20,000 $1 ORD shares shares where the amount paid is $10,000
$1 ORD fully paid shares are the only existing share class in the company.
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Hi Stephen,
Thanks for your question!
CAS 360 doesn’t currently include a dedicated field for entering the consideration paid in the share allotment screen. Only premiums paid (in cases where the amount paid is higher)
ASIC is primarily concerned with the par value of the shares being issued, so the system is built to reflect that. In your example:
20,000 $1 ORD shares, where the amount paid is $10,000
You would still record this in CAS 360 as 20,000 $1 ORD fully paid shares, since that’s the declared par value. If the actual amount paid is less, you can choose to record that in the notes section when recording the allotment, for internal reference.
Otherwise, if you intend to issue shares at a lower par value, you would need to create a new share type reflecting that value before processing the allotment.
There may be further flexibility around this in future, but for now, notes or share class adjustments are the best way to handle it.
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