Sell in May and walk away?

[mybullion.com.au]

No not here, if you're selling gold or silver then we're buying. You might want to also after you see this months specials:


PAMP Lady Fortuna 10g Gold Bar
Spot + 4%



Perth Mint Kookaburra 1oz Silver Coin
Spot + 15%


Melbourne Stackers Meetup Offer: If you're attending we've got PAMP 1kg Silver Bars for you at just spot +12% (that's 3% off the premium )



PM me here first if you're interested.

Or let's unlock the premium in the bullion you own.
Consider joining other Aussies listing items peer to peer on the myBullion platform. Its just like eBay, except no fees or commissions.


You'll need PRO membership to unlock these exclusive offers, which is FREE to join for new members.


Interested in selling directly to us instead? Our buyback rates are among the best in the industry.

 

[Ag bullet]

What about a swap????

Actually thought about swapping out 1oz gold bar stack for equivalent ½oz bars.

 

[mybullion.com.au]

Hey Ag if you were coming to the Melbourne Stackers Meetup later this month I'd personally be interested in a swap. Failing that, here's some items being listed by members who mention in the vendor notes section a willingness to trade:
Austria Philharmonic 1/2 oz Gold Coin
RAM 1990 Platypus Two Hundred Dollar Gold Coin

No stopping you listing your items too. You never know who might reach out

 

[Ag bullet]

Bloody stuff is so valuable these days that a simple 1oz'er puts you over the $5k 'you have to tell everyone about it' limit.

I see value in having smaller fractions.

Say if you did do a 'large' trade, as in swapped a number of 1oz bars for twice as many ½oz bars disregarding premium difference would there be CGT obligations?
You're not cashing in, your only swapping the same amount just in a different form.

 

[Oddjob]

^^^^^^^^^
In a word yes.

https://www.ato.gov.au/individuals-and-families/investments-and-assets/capital-gains-tax/cgt-events

 

[Ag bullet]

Clear as mud. I'll get my accounting team on it.

 

[mybullion.com.au]

Bloody stuff is so valuable these days that a simple 1oz'er puts you over the $5k 'you have to tell everyone about it' limit.

Many stackers have this slightly wrong. Have a read of this thread, which might prove insightful or confuse you further

 

[BarTender]

Say if you did do a 'large' trade, as in swapped a number of 1oz bars for twice as many ½oz bars disregarding premium difference would there be CGT obligations?
You're not cashing in, your only swapping the same amount just in a different form.

Gold (at least Bullion) is a Fungible asset, you can choose to track it with each physical piece OR you can track it by each unit bought or sold eg oz.

Because it is fungible, any oz is the same as any other oz, and divisible (1/2 oz is 1/2 in both weight and value) hence changing 1oz into 10 x 1/10oz does not change your holding so no CGT event. It is no different to getting a refiner to remelt your gold into smaller bars (which they could do together with other people's gold).

Similarly when you actually sell and 'want' to declare CGT, you can sell 1oz bar and use the cost basis for any oz you bought in the past even 1/10th of a 10 oz bar. You 'just' need to document what you bough each ounce for.

Disclaimer: Not actual tax advice.

 

[Ag bullet]

Thanks.