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.
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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:
- at automatic bulk updates of pension statutory increases in March and September each year for all persons holding listed shares,
- when a person asks for a re-assessment, or
- when a change is notified for any public company share or managed investment.
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Deeming Provisions
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.