Do we pay GST to post office on import of Sovereign coins below A$1000

Discussion in 'Sovereigns' started by Pendragon, Sep 27, 2015.

  1. Pendragon

    Pendragon Active Member

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    Has any one imported Sovereigns and can share experience with us. Do we pay GST or any other tax if total value of import is below AUD 1000?

    Cheers
     
  2. wrcmad

    wrcmad Well-Known Member Silver Stacker

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    Fcuk NO! :lol:
    I've imported coins worth way over the $1000, and never paid a cent.
     
  3. Pendragon

    Pendragon Active Member

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    No limit, but you need to declare to customs if carrying a value of over A$10,000. Good idea to carry invoice with you just in case you are asked to prove ownership by customs.
     
  4. DanielM

    DanielM Active Member Silver Stacker

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    Know what you're talking about first. He asked about Sovs, they aren't GST exempt
     
  5. HudsonDesign

    HudsonDesign Active Member Silver Stacker

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    "Know what you're talking about first."

    Really? If your going to be aggressive might be worth being correct first.


    You don't pay GST on any purchases from overseas that are under $1000 currently. Yes the idiots at the helm bowed to the pressure Gerry Harvey was putting on them to end it and plan to do so in July 2017. But until then, no GST on overseas purchases under $1000.

    I will actually be surprised if they manage to do it anyway. Its going to cost a fortune and solve nothing. I'm one of the rare people who actually reads books still. and even if you added 10% to every purchase buying books from the UK is still half the price as here much of the time. So it wont save retailers, and it wont make enough to pay for itself most likely either.

    That aside. For the foreseeable future, overseas purchases under $1000 are not liable for GST. Many people potentially buying something worth more than $1000 but being sent the item in the post as a "gift" are also not paying GST really either.
     
  6. DanielM

    DanielM Active Member Silver Stacker

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    A) I wasn't aggressive.
    B) where was I incorrect. I know the OP said it was under the $1k threshold. But WRCMAD was boasting he's imported coins worth WAY over $1000. Yes it's fine order $5000 worth of investment grade bullion and pay no GST but order $5000 worth of sovs and you're up for the GST
     
  7. westminstrel

    westminstrel Member

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    Hi guys, just to be clear, does one have to pay GST if ordering a single Sovereign coin from overseas? The value is obviously less than AUD 1000, but the gold content is less than 99.5% which is why I am asking for a clarification. Thanks!
     
  8. SpacePete

    SpacePete Well-Known Member Silver Stacker

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    A single sov is priced less than the $1000 limit so it should be fine to post from overseas. This may change sometime in 2017 when the GST regulations change (if it is from a large seller), but for now it should be all good.
     
  9. westminstrel

    westminstrel Member

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    Thanks very much for clarifying, silverpete.
     

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