It truly is the gift that keeps on giving. Share Gifting by Upstreet works like a gift card in that you choose an amount to gift someone for a special occasion or holiday, like Christmas. Unlike a gift card, though, instead of a store or venue where the giftee can spend the card, they’ll be getting shares.
Yep, the programme lets you choose from over 20 top-performing Australian brand shares on the Australian Stock Exchange, including Woolworths, Marley Spoon, Baby Bunting, Wesfarmers, Adairs and Blackmores, or ETFs, like the technology fund FANG+, to give as a gift to someone to either start their investment portfolio or simply to add to it.
And just to give you an idea of the share value jump the giftee might be getting, over the last year, share prices at Woollies jumped 24.69%, at Baby Bunting, they went up 24.88% and at Kelly + Partners, they saw a whopping 114.71% increase. Meanwhile, ETF FANG+ saw a jump of 16%.
So, how does Share Gifting work? Well, as mentioned, you can either choose the shares yourself, with the gift amount as little as $10, or, if you’d rather the giftee get a little more invested (pun intended) in the present, you can let them pick themselves.
Then, once you have your shares or amount, you can write a personalised message, input the recipient and send it off via email. The whole process can take as little as two minutes. It really is the perfect solution for a last-minute, eco-friendly and thoughtful gift.
As for the fine print, the recipient won’t need to pay tax at the time of redeeming the gift card, but as fractional shares are an investment product, taxes may apply in the future. And when the recipient wants to sell off their shares, they’ll simply need to email Upstreet to do so for free. You can also gift Share Gifting to someone living overseas, but they must be an Australian resident for tax purposes.
Get started Share Gifting your loved ones (and random giftees you have no idea what to get) this festive season.