Hi, Can someone please advise if we have to pay any import duty or custom duty if we order coins from Gainesville or other sites from US ? Many thanks
You'll have to pay a custom's processing charge and if you don't have a ABN for your business, there's GST to pay as well.
ok, but is there any problem if someone buys the coins from the US and then brings to Sydney >? Do they still have to pay customs and GST.. ??
I was referring to delivery of coins by courier. If you are travelling to the US and returning back to Australia, then you'd have to ask customs about that and let them know whether you are bringing in more or less than $1000 worth.
If you get more than 1K from Gainesville , UPS should just ring you up and get you to pay $66 processing fee, silver coins are gst free(LPM) if there like .999 odd silver, you don't need a ABN. One word of warning if the seller uses FEDEX you'll never get your GST off even if the ATO tells them to take it off.
It would be worth doing a quick search with key words - $1000 overseas APMEX Gainsville importing GST ATO ruling etc.... There is also a sticky thread as well - see the top of the indexes - can't recall which section it is under. This has been discussed quite a bit by people who have been through the process so you will find quite a bit of info. Also it may not be certain that Gainsville or anywhere else will use UPS (even if it says they do on the web site) so check before hand or request UPS becasue if you get stuck with Fedex it may be more problematic. Some people have no issues and others have difficulties. It would help to find out the right things to write on the documents. Some people have provided that advice in the various threads. Well worth a look.
Sorry, but whether you pay GST or not should is determined by the nature and purity of the import. Both dealers and private individuals are entitled to import bullion without paying GST. Fedex is a standout company for incorrectly assessing GST when it's not due. My personal experience with Gainesville and UPS is that private individuals CAN import without paying GST.
Thanks to all who contibuted... so moral of the story.... if we import silver bullion coins less than $1000 AUD, then we should not pay GST....but have to pay $66 processing fees....is that all ???
I'll have to change what I previously stated. One shouldn't be charged gst, if the import is pure silver or gold, according to the government's definition of pure, as long as the appropriate paperwork is filled in correctly. However, that certainly hasn't been everyone's experience: http://forums.silverstackers.com/to...ver-into-australia-with-orders-over-1000.html
Less than 1k should go right to you with out customs stopping it at all, eg not charges from anyone, processing fee is for lodging a gst exemption form to customs for orders over the 1k limit.
I can confirm that FEDEX put the stakes up my rectum and made me pay GST. I now am in process of claiming it back through private ruling. APMEX has switched to FEDEX without telling me. I am now still trying to pull that stake out of my rectum.
That sucks, I'd send the Silver back Ampex on a big order and tell them to send it back via UPS ,if they advertise using UPS they should do it. I think Gainesville is the only US dealer I'd use at the momnet (UPS).
I enquired about the change to FEDEX and said it was problematic for Aust customers but got no response.
I can understand why dealers aren't using UPS. Cheap delivery doesn't mean better service. They may or may not deliver on the day they say they will. I'm not able to find out whether they'll deliver in the morning or afternoon. Furthermore, UPS drivers are supposed to get the resident to sign. However, they'll usually drop off the package at the residence and sign it themselves. So, if you're in the position where there isn't a person home at the time of delivery, having thousands of dollars of silver or gold left at your front doorstep is a security risk. Anyone from the street can just take it. If the goods are stolen, then it's a case of your word against the UPS driver. I wonder if Gainesville will change back to Fedex in the future?
Sounds like APMEX need to update their FAQ then: What are the shipping costs for Australia? Our shipping charges to Australia are $49.95 USD plus an additional $0.25 USD per troy ounce weight surcharge. Currently, all of our shipments to Australia are shipped UPS Worldwide Expedited.
