How to Sell Telstra Shares

First, find your Telstra holding: SRN or HIN?🔗

Before you do anything, work out how your shares are held. This single step decides which selling path is right for you.

• Issuer-sponsored (SRN): held directly with Telstra's share registry. Your holder number starts with I (for example, I000123456). The registry is MUFG Corporate Markets (formerly Link Market Services). If you bought in a float and never moved the shares to a broker, this is almost certainly you.
• CHESS-sponsored (HIN): held through a stockbroker via the ASX's CHESS system. Your holder number starts with X.

To check, look at your most recent Telstra holding or dividend statement, where the holder number is printed at the top. Or log in to the MUFG Investor Centre using your SRN and postcode. Never used a broker and bought in a float? You are almost certainly issuer-sponsored.

How to sell issuer-sponsored Telstra shares (SRN) without a broker🔗

You do not need a broker account to sell. SRN holders have two practical options.

Option A: the MUFG registry share sale facility. The simplest route for a one-off sale. Log in or register at the MUFG Investor Centre with your SRN (starting with I) and postcode, go to the share sale section, enter your bank details for the EFT payment, and confirm. It typically costs a flat fee of around $30 to $35, or a percentage of the sale value, whichever is greater. Reasonable for small parcels; compare with Option B for larger ones. Proceeds usually arrive a few business days after settlement.

Option B: transfer to a broker first, then sell. If you plan to reinvest the proceeds (into ETFs, say) or keep investing, open an account with an online broker (CommSec, nabtrade, Stake, Superhero and others), initiate a sponsorship transfer using your SRN, wait 2 to 5 business days for the shares to move onto your broker's HIN, then sell at standard brokerage (as low as $3 to $5 with some platforms). More setup, but cheaper ongoing and one home for future investing. See our guide to buying shares for broker options.

How to sell Telstra shares if you have a broker (CHESS/HIN)🔗

If your shares are already on a HIN, selling is straightforward.

1. Log in to your broker platform.
2. Search for TLS (Telstra's ASX ticker).
3. Enter the number of shares to sell, all or part.
4. Choose your order type. A market order sells at the best available price now; a limit order sets a minimum price you will accept but may not fill.
5. Review and confirm, checking the estimated proceeds and brokerage.
6. Wait for settlement, which is two business days after the trade (T+2).

Ways to sell your Telstra shares, compared🔗

What is your cost base? T1, T2 and T3 explained🔗

Your cost base is what you paid (plus brokerage). It is what the ATO uses to work out whether you have a capital gain or a capital loss. For Telstra, it depends entirely on which float you bought in.

Add any brokerage you paid when buying to your cost base. If you received Telstra shares through an employee share plan, the cost base rules can be different and more complex, so a registered tax agent is your best friend there. For the mechanics, see our capital gains tax on shares guide.

Capital gains tax when you sell Telstra shares🔗

Selling is a CGT event. Here is what it means.

If you make a capital gain: held for more than 12 months, individuals get the 50% CGT discount, so only half the gain is added to your taxable income. Held for less, the full gain applies.

If you make a capital loss (hello, T2 holders): you cannot use it against ordinary income like salary, but you can use it to offset capital gains from other investments (shares, property, crypto) this year or carry it forward. That can be a genuinely useful tax planning tool if you have gains elsewhere.

Keep a record of your cost base, sale price, and the purchase and sale dates. Your broker's contract note after the sale is your key tax-time document.

Settlement (T+2) and when you get your money🔗

Once your sell order fills on the ASX, settlement takes two business days (T+2). Sell on a Monday and the cash settles Wednesday. If you sold through the MUFG facility, proceeds are paid to your nominated bank account after settlement. Through a broker, the cash sits in your broker account, ready to withdraw or reinvest. You cannot use the money until settlement completes, so do not plan to spend it on day one.

Selling inherited Telstra shares🔗

Inherited Telstra shares are very common, given how many Australians bought in the floats. The cost base rules are a little different.

• Your cost base is generally the market value on the date the deceased passed away, not the original float price.
• If the deceased acquired the shares before 20 September 1985 (pre-CGT), the cost base is the market value on the date of death.
• The 12-month discount holding period includes the deceased's holding period, so an inherited long-term holding is usually well past the threshold.

Before selling, you may need a transmission or estate transfer. For SRN holders, contact MUFG Corporate Markets; for HIN holders, contact the broker. You will generally need a death certificate and grant of probate or letters of administration. This can get complex, so a tax agent or estate lawyer is worth it.

Common mistakes when selling Telstra shares🔗

• Not checking SRN vs HIN first. Trying the wrong path just causes delays. Check your holder number before anything else.
• Assuming T2 shares show a gain. With a cost base near $7.40 and Telstra around $4, most T2 holders have a loss. Do not assume, calculate.
• Forgetting to record your cost base. Keep your float confirmation, contract notes and brokerage receipts.
• Not comparing costs on large parcels. The registry facility is convenient but can be pricey on big holdings; a low-cost broker transfer may save hundreds.
• Ignoring jointly held or estate shares. Jointly held shares with a deceased partner need a transmission into your sole name first.
• Selling employee-plan shares still under restriction. Vesting or restriction periods can block a sale. Check your plan first.

❓ Frequently asked questions🔗

Keep reading🔗

• How to sell shares in Australia (the general guide)
• How to buy shares in Australia
• Capital gains tax on shares in Australia