Help ? GST on Gold Bullion Through FedEx

Okay, hands up who'd buy a copy of the mag to read "Iron Mike" grilling FedEx on bullion shipments?

/me raises hand.
 
Big A.D. said:
Okay, hands up who'd buy a copy of the mag to read "Iron Mike" grilling FedEx on bullion shipments?

/me raises hand.
Click to expand...
fing10.gif
 
Big A.D. said:
Okay, hands up who'd buy a copy of the mag to read "Iron Mike" grilling FedEx on bullion shipments?

/me raises hand.
Click to expand...
Shucks, just tryin to cut through the bull(ion$)!
Will drop a line tomorrow, see if there's a comment that can be extracted . . .
 
UPDATE ON FEDEX GST

I have applied for a private ruling and I received this from the ATO. The ATO cannot give me a private ruling - they can only give it to FedEx who has not applied for one.

They gave me this link :

Here is the link to the relevant chapter of the Explanatory Memorandum to the GST Act that provides guidance to your question. See item 5.128 under the heading Precious Metals - Subdivision 38-J which is about 2/3 of the way into chapter 5.

http://law.ato.gov.au/atolaw/view.h...REPS:#00006#CHAPTER 5 - NON-TAXABLE SUPPLIES;


I contacted Fedex who sent me this note :

"Thank you for legislative link regarding non taxable supplies. Although this does not constitute a private ruling nor does it clearly define the legality of your claim for GSTE, we will review your shipment for the processing of a refund with Customs and revert"

LET US ALL BOYCOTT FEDEX !!!!!!
 
Ronnie 666 said:
"Thank you for legislative link regarding non taxable supplies. Although this does not constitute a private ruling nor does it clearly define the legality of your claim for GSTE, we will review your shipment for the processing of a refund with Customs and revert"
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My emphasis - this sounds like you're getting a refund?
 
Hopefully when the US crashes Fedex is one of the first American companies to fold. I will not ever use this company again.
Boo fedex
 
that's weird the ATO are saying they cannot issue a ruling, how did you word "the question"? did you just ask them clarify that the product is a 'precious metal' or did you mention fed ex?
 
I reported that I had purchased and imported a gold bullion coin from overseas and that I was charged GST. They asked If I had paid the customs GST to which I replied that I had paid GST to FedEx who had contacted me as the shipping agent. They consider FedEx the importer which is weird !!!
 
if you put in another application but just focus the question on 'is this bullion coin considered a precious metal' and 'is GST payable on import of this bullion coin' that should get through the ATO. The private rulings are only concerned with interpreting tax law, so you have to be very specific with the wording.
 
Thanks Blockhead

If I get the refund which looks likely then it is not worth doing that. I have contacted 4 overseas mints that I deal with and have warned them of the FedEx problem and that alternate agents should be sought when dealing with Australian clients. I have written to FedEx in the US and I think we just keep the pressure on. They will get the message.
 
jpanggy said:
damned fedex, seriously want to sue them if i can find legal grounds
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Blackmail? - withholding your property without any legal right

Tax Fraud? - taking money they are not entitled to, in the government's name, and then holding it for the purposes of additional financial gain (interest), until you effectively get a legal order for them to return it!

Damages? - loss of business (if bullion is for resale)


Any lawyers want to have a go?
 
all the grounds are still arguable, will need a lawyer confident in claiming damage. then I would like to proceed.
 
blackmail - they can argue that it is not their responsibility to interpret tax law, hence referral to ato for private ruling.

tax fraud - they don't keep the money, they pay it to customs and when you get a refund the refund comes from customs.

damages - maybe.
 
Blockhead said:
blackmail - they can argue that it is not their responsibility to interpret tax law, hence referral to ato for private ruling.
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Conveniently, the ATO has already interpreted the relevant tax law in GST Ruling 2003/10.

"Interpretation" doesn't come into it. The law is what it is and they're not adhering to it.
 
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