We all know that GST is charged on imports of regular stuff over $1000 in value, but not on imports of bullion. Question: if I bought $750 worth of bullion and $750 worth of numismatic items from an overseas supplier, am I still under the $1000 limit? The total value of the order is obviously $1500, but is the value of the non-taxable bullion included in the calculation or do I get a $1000 limit on numismatic stuff and an unlimited amount of tax-free bullion? Depending on how the tax is calculated, I'd either pay no GST or $150 in GST. Has anyone had any experience with mixed orders like this? How did it turn out?
hey Big AD, a similar question, can you just clarify; if importing bullion, eg 10 oz bars, they are exempt from gst, ie the $1000 threshold? does this include bullion rounds such as buffalos and other generic private mint rounds (eg fm and scottsdale?) have been thinking about it a bit lately as I put in an order at scottsdale recently.. many thanks, rml978
They're not actually "exempt" but rather "input taxed" which means they're taxed at a rate of 0%. There is a pretty good guide to GST and bullion here: http://forums.silverstackers.com/to...-tax-gst-on-precious-metals-in-australia.html There is also some info on the customs declaration here: http://forums.silverstackers.com/topic-241-gst-exemption-code.html Unfortunately none of them have any details on mixed packages that contain both investment grade bullion and taxable numismatics.
good luck if you go with a private courier company. Fed Ex and DSL i know for a fact, will ignore the tax code and just charge GST anyway and you will have to get a private ruling from the ATO before they will refund your GST, and they will seize your package until you pay it. A friend of mine had $2000 worth sent via USPS and Australia Post held it up and accepted a correctly completed N10 form and he didn't have to pay.
Seeing as the bullion will be input taxed at 0%, and the numismatics at 10%, I think the shipment would be considered over the $1000 limit - just different GST rates applied. So I'd expect the $75 GST bill plus the Customs processing fee if correctly assessed.
I'm also curious on this topic, I've ordered 100oz from Scottsdale Silver - will there be any tax or duty I have to pay when it arrives?
^ pretty sure scottsdale go with fedex, so you may get stooged for a bill. please post back here with the outcome.
Have imported from a few overseas mints including Scottsdale before, and I have found that no matter how much you tell them about harmonisation codes or GST exemption codes the package delivery company will always call you asking for you to pay GST. I always tell them GST doesnt apply to 999 silver bullion and they alway tell me they will get their import expert to have a look at it. Then they call me back the next day and say no GST due, only import duty. Never imported numismatics though. The tax code just exempts any GST on silver over 995 purity.
I spoke directly to the customs officer with fedex on a 200oz order and he told me he was fully aware of the input tax exemption etc and that they just have a blanket policy to charge gst and then you have to obtain a private ruling from the ATO and they will refund your money. I then spoke to the ATO and they agreed in less than 90 seconds on the phone that no gst was due, but the only way to get my package was to pay the bill then apply for a private ruling. I have submitted the application for a private ruling, just waiting now to hear back. If it works out, which i have every reason to believe it will, i am happy to share the template i used with anyone who finds themselves in the same situation. When i write to Fed Ex demanding my refund i will be stating quite bluntly that i will never use them again and that i network with a lot of people who import bullion and be recommending they boycott their services as well. Will keep you guys posted on the outcome.
what sort of import duty would I expect to pay on 100oz of Scottsdale silver? Do they call me or send me a letter?
My latest order was for 250 oz from first majestic and I paid $55.20 Customs Entry Fee and a $9.95 UPS Security Fee. They also wanted $728.52 for GST till I rang them and said 999 Silver is GST exempt. They sorted it out overnight by asking their import expert and delivered the bullion 2 days later. Hope this helps
If it's sent by Fed Ex and you have a tracking number, i would get proactive and call them and try and get somebody to sort it out asap.
Maybe this post should be refiled somewhere else, but... For any Canadian folks who get dinged and have to pay GST or duty on an import, here are the links with info on how to request an adjustment through the "Casual Refund Program" if your import should have been exempt. http://www.cbsa-asfc.gc.ca/import/courier/crp-prio-eng.html http://www.cbsa-asfc.gc.ca/import/postal-postale/dispute-contestation-eng.html Requesting an adjustment To request an adjustment of the duty and taxes being charged on a parcel sent to you, proceed as follows: Complete Form B2G, CBSA Informal Adjustment Request (PDF, 36 KB). (Form B2G is printed on the back of the top copy of Form E14.) Send the completed form and any supporting documents such as invoices that show the correct value of the products or other material that describes them to the nearest Casual Refund Centre listed on the form. The CBSA will review your claim and process any applicable refund. Canada Post's CAN$5 handling fee will be refunded if it is determined that the goods should have been duty free and tax exempt at the time of importation. Note: The handling fee charged by Canada Post will not be refunded on Priority Courier items, and the CBSA will not refund any broker's fees or shipping and handling costs.
