If you were to buy 6 ounces of silver ASE BU condition. What is the highest price you'd personally pay for 6 ounces of ASE silver shipped with insurance? I'm just using 6 ounces as an example as I would start with small orders anyway. I want to start getting an idea on profit margin. Please tell me what you would pay in USD currency, convert it. Or at least state which currency so I can convert it. You're probably a bad example to use though as you are doing a 1,500 order yourself. I think it will only work will small orders under 10 ounces etc. If I see this will work ill start selling my stash off now and repurchase. I know its going to be werid though because every location id ship to will probably have some weird kind of fees. Just some risk ill have to take. Worst case lose a drop of money, best case make a little money.
"Section 40-100 - Precious metals A New Tax System (Goods and Services Tax) Act 1999 (GST Act) defines precious metals for GST purposes. Only gold (99.5% fine), silver (99.9% fine) and platinum (99% fine) in an investment form are precious metals under the GST Act. (Fineness quoted is the minimum that applies) Under the GST Act, at the time of importation, precious metals are not subject to assessment for, or payment of GST. Imported precious metals, whether bullion or coins, have a free duty rate, which means no duty is payable." http://www.customs.gov.au/site/page5350.asp#e946
I can buy and sell krugerrands and beat that GST tax. Krugerrands are bullion but not 24 karat. I'd just have to start off with the highest of 1/4 and under ounce coins and work my way up. Gold (91.67% Au, 8.33% Cu)
Only gold (99.5% fine), silver (99.9% fine) and platinum (99% fine) in an investment form are precious metals under the GST Act. Kind of dumb for the law makers to use "only" makes no sense to me. Seems like they write the rules as they come along. Time to go falcon and the snowman on their ass. Seems like every time you find a loop-hole they say " oh you can't do that either" Makes sense why you guys import precious metals now.
Final details below closing Friday night hopefully we get a few people on board, please dont busy the thread from here on in would like to keep this clear for group buyers only. Once check out has been completed I have to enter in my credit card to secure the price, it wont be charged. I then have 5 days from that date to make the bank wire. Items listed on the site are in USD obviously. Payment to be made at a bank by bank wire for the USD amount. Charges from APMEX - $49 shippng + 25 c per oz. Shipped VIA FED EX International economy - insurance is included by APMEX for the total value of the order. Transit time via this service looks to be about 4 days, + whatever time customs hold it for until payment of customs declaration is made. Charges from Australian customs - $55. "Section 40-100 - Precious metals A New Tax System (Goods and Services Tax) Act 1999 (GST Act) defines precious metals for GST purposes. Only gold (99.5% fine), silver (99.9% fine) and platinum (99% fine) in an investment form are precious metals under the GST Act. (Fineness quoted is the minimum that applies) Under the GST Act, at the time of importation, precious metals are not subject to assessment for, or payment of GST. Imported precious metals, whether bullion or coins, have a free duty rate, which means no duty is payable." I can only go by this ruling on the customs website, says if pure bullion - no duty, so guys - .9999 gold and .999 silver ONLY no proofs or numismatics etc. http://www.customs.gov.au/site/page5350.asp#e946 I can call customs on 1800 111 112 option 1 quoting fed ex tracking number and pre load my credit card details so that when it arrives they can charge for the $55 customs fee quicker and back to FED EX for door delivery. Once arrived can do f2f Sydney CBD, Sutherland Shire, or postage at your cost/risk to be included in your initial payment. Browse the APMEX site, choose, commit, post here and we'll close this off Friday night, PM particulars weekend. I will place the order Monday morning securing the prices with my credit card - ***I will only do this for group buyers who have sent their netbank deposit receipt information to me, due to the risk on my behalf group buyers must have good feedback, netbank receipts required first thing Monday morning, weekend preferred - VERY IMPORTANT IF YOU CANNOT COMMIT TO THIS DO NOT JOIN, then make the bank wire on Wednesday assuming all funds have hit. I have confirmed the above with a 'Ted' & 'Marcey' at APMEX. Also have spoken with FED EX. I should point out I will doing this alone if it ends up that way as they have items I have given up trying to find here. Thanks.
Anyone else wishing to get in on this PM me, I'm closing the thread early due to a similar order, over to you Maggie.
