anything you buy with the global access thing automatically adds import fees even if it should be GST expempt. thats the real issue
If the bullion isn't 24kt then you'll have to pay 10% on top and now there is no $1000 limit , any purchase even under $50 you'll have to pay extra 10% if the item is from outside australia this happens all the time on ebay.
10%GST... and you cannot argue with custom because: - It's less than 99.9% gold <- BU grade of 99.95 + is exempted - It's arguably 'numismatic' (slabbed) <- slabbed is defined as not investment form/kind
Thanks fellow stackers, much appreciated. On to Plan B then, i.e., soliciting help from unsuspecting friends/acquaintaces in the USA... Which brings me to another observation, this auction was selling a presumably quite comfortably wealthy person's possessions (estimating based on the quality of items for sale) and there were some very low prices. Let us see if the flood is about to commence.
I've ordered lots of bullion from the States, even over the $1000 mark. I've never had to pay an import fee. The contents of my package is always listed as 'collectables' and the value of the package is always a small fraction of the total amount I paid. Maybe that will help avoid the import fee.
And the actual legal definition https://www.ato.gov.au/law/view/document?docid=GST/GSTR200310/NAT/ATO/00001
Thanks for that, interesting that regarding reporting they say it is required if the consignment consists of precious metal coins classified as legal tender, and the value of the consignment exceeds AUD10,000 The key here is "value of the consignment" not face value of the consignment - they want their cake and eat it, so if it is legal tender it is reportable but they want to use market value not legal tender value. And, they ignore the "circulated, used and accepted as, a medium of exchange in the country of issue" requirement. What that link implies however is that if the PMs are not legal tender then not reportable no matter the value.
And that's where it gets even more confusing as Australian coins are legal tender... I'd you wanted to get really into it I would hazard a guess that the original idea implies to bars or rounds, not coins. But then it also says that for 'investment purposes' the value is determined by the spot price... Many grey areas
And the whole 10000 dollar thing is just for money laundering purposes I believe. Like you can bring in more than 10k, you just have to declare it. If it's not dodgy it's fine