No GST for Investment-Grade gold & precious metals
Monday, 1st October 2012
Investment-grade gold (in the form of a bar, ingot, coin or wafer) must be in purity of 99.5% and above, with the following characteristics that differentiates it from gold in other forms such as jewellery: (i) Capable of being traded on the international bullion market; (ii) Bears a mark/ characteristic accepted as guaranteeing its quality; and (iii) Trade at a price based on the spot price of the metal it contains. Investment-grade gold, silver and platinum (“precious metals”) are essentially financial assets that are actively traded, similar to financial instruments such as stocks and bonds that are currently exempt from GST.
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