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Assets Value of Shares in Public Companies

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Last amended: 25 October 2006

Public company shares

    

The assets value of public company shares is the current market value. Public company shares can be listed on the Australian Stock Exchange or be unlisted.

If the investment is...

then the assets value is worked out by...

listed on the Australian Stock Exchange

multiplying the number of shares by the last sale price of the share stored on the DVA Share Database.

unlisted

multiplying the number of shares by the last sale price obtained from the company secretary.

New claims

When determining a new claim for pension, the assets value of public company shares is the current market value as at the veteran's provisional commencement day (where payability commences from this date). Where payability does not occur from the veteran's provisional commencement day, the current market value of shares should be concurrent with the date of grant. The updated share price, as available from the DVA Share Database and immediately preceding the date of grant, should be applied.

Existing claims

Last sale prices are obtained for every second Wednesday before pension payday for public company shares listed on the Australian Stock Exchange. Updated last sale prices are only applied to assessments:

Note: The values of unlisted shares, overseas shares and company issued options are only updated when the person notifies of a change in the value or the department undertakes a revaluation.

Overseas public company shares

The assets value of overseas public company shares is the current market value. Overseas public company shares can be listed on a variety of international stock exchanges or be unlisted.

If the investment is...

then the assets value is worked out by...

listed on an overseas stock exchange

multiplying the number of shares by the last sale price of the share converted into Australian dollars.

unlisted

multiplying the number of shares by the last sale price provided by the person converted into Australian dollars.

Company issued options

The assets value of company issued options is the current market value. The assets value is worked out by multiplying the number of options by the last sale price of the option as quoted in the Australian Financial Review.


According to subsection 36B(1A) of the VEA, a veteran's provisional commencement day is the day on which the veteran claims the age service pension.