Buying Shares Under 18

In by Bailey Young1 Comment

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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 !