Give the Gift of Fractional Shares
Buying gifts can be difficult, everyone already has what they need or want, and in a time of minimalism, people are looking to get rid of excess items around the house, not add to it. So if you have a birthday, Christmas or even a baby shower gift to purchase this year, why not give something longer-lasting than the latest toy - the gift of fractional shares.
In the past, gifting shares was hard - you had to set up a trading account for the person who would own the shares or set up (and pay the ongoing fees for) a trust account to ensure that the shares were safe into the future. Well, Upstreet fractional share gifting has changed this.
With Upstreet’s Fractional Share Gifting model, you can gift as many fractional share gift cards as you like, whenever you like (T&C’s apply). You can start with as little as $10, and purchase fractional shares in a wide range of Australian and International companies, including Alphabet, Apple, Coles, Ferrari, Microsoft, Netflix and many more.
How Fractional Share Gifting Works
It might be a little bit of a strange concept, but it’s certainly one that is gaining in popularity. Fractional share gifting takes just a few minutes of your time and is an eco-friendly gift for that hard-to-buy-for family member or the friend who has everything.
You simply select the fractional shares you would like to gift, pick an amount between $10 and $1000 that you want to spend, and pay. The gift will be sent via email to your recipient at a time of your choosing, along with all the instructions they need to redeem it. If you’re not sure what stock to choose, you can let them pick their own.
When you partake in the Fractional Share Gifting model through Upstreet, you’re purchasing fractional shares in a company.
What are Fractional Shares?
You may be sitting there wondering how you can buy an interest in shares in Tesla for just $10 when the share price is over 1,000 USD. Well, Upstreet has made it possible by offering fractional shares. This is where you purchase an interest in part of a share rather than a whole one. Depending on the amount of money you wish to spend, you might end up buying an interest in half a share, a whole share or one and a bit shares.
Purchasing fractional shares is great for when you want to purchase shares, but the stock price is far too high; you might not want to gift the $195 USD to buy a single share in Ferrari, but you may have $80 you could purchase a slice of a share with. This is just one of many reasons why buying an interest in fractional shares as a gift is perfect for those who are hard to buy for.
For more information on fractional shares you should review Upstreet’s Product Disclosure Statement available here.
Tax Obligations and Selling Shares
When you purchase fractional shares through Upstreet, your tax obligations are the same as when purchasing through other means. The recipient doesn’t need to pay tax until the shares are sold, and shares can be sold as they normally would be.
Fractional share gifting through Upstreet is a great way to get your grandkids' investment portfolio started, and you can add to it every birthday or Christmas without fuss.
If you’re after the ultimate eco-gift this year that won’t take up any space, give the gift of fractional shares today.