Buying Shares Under 18

In by Bailey Young1 Comment

Bailey Young

I’m 16 years old and looking to invest in the stockmarket. The commbank app states you must be over 18 to invest. Further research I have done explained you can get a parent to invest for you but you must pay tax for any amount of profit over $456. Is it worthwhile investing at my age and trying to take advantage of the current market conditions? Or waiting until I’m over 18 and can purchase shares under my own name?

  • Edit
    Steven Coulter

    The earlier you start the better so start immediately - like right now ! Forget about the tax stuff because that only is necessary if you take it out or dividends and by then you'll be 18 anyway. There are also a heap of online exchange accounts that you can use if you're under 18. All the best !