Bringing Gold into Australia?

Discussion in 'Gold' started by anglox_b, Mar 8, 2014.

  1. anglox_b

    anglox_b Member

    Joined:
    May 11, 2010
    Messages:
    50
    Likes Received:
    23
    Trophy Points:
    8
    Hi Guys, wondering if anyone has had any experience with bring PM's into Australia? I have been living overseas for quite a while now,and am thinking of getting some more PM's while prices are still low. Dpes anyone know how much gold you are allowed to bring in with you and secondly if any gold bought overseas, would be subject to CG tax, when eventually sold in Australia?


    Thanks.
     
    anglox_b, Mar 8, 2014
    #1
  2. miniroo

    miniroo Well-Known Member Silver Stacker

    Joined:
    Jun 21, 2012
    Messages:
    1,042
    Likes Received:
    84
    Trophy Points:
    48
    Location:
    Victoria
    think it's $10,000 worth before you got to to something, not sure.
    but nothing a tube of KY gel won't fix.
     
    miniroo, Mar 8, 2014
    #2
  3. Altima

    Altima Well-Known Member Silver Stacker

    Joined:
    Feb 7, 2013
    Messages:
    4,178
    Likes Received:
    58
    Trophy Points:
    48
    Location:
    Canada/Singapore
    Haha. I'm amazed at myself for actually knowing what a KY gels is.
     
    Altima, Mar 8, 2014
    #3
  4. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    581
    Trophy Points:
    113
    goldpelican, Mar 8, 2014
    #4
  5. renovator

    renovator Well-Known Member

    Joined:
    Jan 20, 2011
    Messages:
    6,989
    Likes Received:
    83
    Trophy Points:
    63
    Location:
    QLD
    I like this from the second one

    Precious metal coins
    Precious metal coins are a tradeable/investment form of
    precious metals. Such coins are produced for that purpose and
    are traded at a spot price for the metal alone. Precious metal
    coins also carry a mark that guarantees fineness and quality.

    Traded at spot price ? lol i wish i could buy everything at spot my dca would be a bit lower ....For all the dealers out there that buy back for at spot or less.....yes i am jealous
     
    renovator, Mar 8, 2014
    #5
  6. rbaggio

    rbaggio Active Member Silver Stacker

    Joined:
    Aug 5, 2010
    Messages:
    4,300
    Likes Received:
    6
    Trophy Points:
    38
    Location:
    Australia
    I like this from the second one:

     
    rbaggio, Mar 9, 2014
    #6
  7. dozerz

    dozerz Well-Known Member Silver Stacker

    Joined:
    May 21, 2013
    Messages:
    2,247
    Likes Received:
    1,203
    Trophy Points:
    113
    Location:
    straya
    how many bitcoins can i bring in?
     
    dozerz, Mar 9, 2014
    #7
  8. hyphenated

    hyphenated Active Member

    Joined:
    Oct 7, 2012
    Messages:
    498
    Likes Received:
    37
    Trophy Points:
    28
    Location:
    FNQ
    You don't get CGT on some PMs (Sovs, Britannias) if you sell in the UK, but you will in Oz when you declare the sales. Ahem.

    Then there is the GST issue on 22k (ie Sovs) in Oz.

    Then there is the VAT issue on Silver in UK.

    To me it seems to simplify matters to bring in Australian denominated coins (nuggets/Roos) at a lower premium than that charged by Perth Mint - the cheapest source used to be Coins Direct in Germany - but they seem to have dropped off the map.

    If you are making a household move you may get pretty much an unlimited licence as a collection - but YMMV.

    Just don't hide coins in fruit :)
     
    hyphenated, Mar 10, 2014
    #8
  9. DanielM

    DanielM Active Member Silver Stacker

    Joined:
    Oct 23, 2012
    Messages:
    2,889
    Likes Received:
    29
    Trophy Points:
    38
    Location:
    Melbourne
    So are you jealouse of their overheads?
     
    DanielM, Mar 10, 2014
    #9
  10. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

    Joined:
    Jun 18, 2012
    Messages:
    4,656
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    NSW
    What about going the other way? Do you have to declare to any government agencies if you're taking gold or silver (bullion) out of the country?
     
    Caput Lupinum, Mar 10, 2014
    #10
  11. anglox_b

    anglox_b Member

    Joined:
    May 11, 2010
    Messages:
    50
    Likes Received:
    23
    Trophy Points:
    8
    Thanks some good info. Still not sure what i'll do.
     
    anglox_b, Mar 10, 2014
    #11

Share This Page