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.

Photo Credit: Flickr.

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