Hi all. I've just started investing in the NZX share market. My $15K first investment (AIR.NZ) was in March when the market was low. Then I gradually have more funds (around $300K so far) to invest (due to mature of term deposits, notice savers, etc.). As a beginner, I am learning and have bought 9 different company shares and sold 3 of them so far while I was trying to find good shares for long term investment. For one of them, I sold them only 1 week after the purchase. Of course I still keep a few shares which I consider they are good for long term. So the whole process is just learning, trying and diversifying. For those 3 shares I "traded", I did have some gain (about $5K). However the reasons why I sold them are just because I found I have other better shares for long term investment and those shares are turned out not meeting my objective after I spend more time studying on them after the purchase. At the time I bought them, I did have an intention to hold them for long time. I still keep the good shares such as AIR.

My question is do I need to pay capital tax for the gain? If I continue this process (optimizing investment portfolios) for a while and gain from "trading", do I have to pay tax? Thank you.