I am new here, and had a couple of general questions. Iam almost 18 and have been always interested in the stock market. My plan is to sign up with E* Trade. But what I am not sure about is the Tax, if I just so happen to make some money. I am not working, so there are no other sources of income for me. However, at the end of the year I may have a job. As I am new to the stock market it would only be a couple of thousand that i would be willing to initially invest, mainly to get some exposure to the market.
So in relation to tax, how does capital gains effect me? and how do i go about declaring this tax or is it all done through E* trade??? I really have no idea at all, and I have never lodged a tax return before either.
I am very new to this so any information would be greatly appreaciated, oh and I am currently playing the ASX Sharemarket game, don't know if that helps.