Is Gold GST-Free in Australia? Everything You Need to Know

The Short Answer

Yes. Investment-grade gold is GST-free in Australia. Under A New Tax System (Goods and Services Tax) Act 1999, gold of at least 99.5% fineness in an investment form is a precious metal, and sales of precious metal are input taxed, meaning GST is not charged on them.

However, this exemption applies only to gold that meets specific purity and form requirements. Not all gold is automatically GST-free.

Most products listed on GoldSilverPrices.com.au are investment-grade and qualify for the exemption. The main exceptions are 22-carat coins such as the Krugerrand and American Gold Eagle, which attract GST.

Which Gold Products Are GST-Free?

For gold to count as a precious metal under the GST Act, and so be free of GST, it must meet both of the following criteria:

• Purity: at least 99.5% (0.995 fineness).

• Investment form: a bar, wafer, ingot or coin that is marked with its weight and fineness and is traded for its gold content, not jewellery, collectables or industrial gold.

The law does not require you to buy from an accredited or licensed dealer. What decides the GST treatment is the product itself. Well-known brands mainly make a product easier to resell.

Products that are GST-free:

• Perth Mint Gold Kangaroo coins (all standard weights)

• Perth Mint gold minted and cast bars

• ABC Bullion gold bars and tablets

• Royal Canadian Maple Leaf coins (99.99%)

• Austrian Gold Philharmonic coins (99.99%)

• Gold Britannia coins struck from 2013 onwards (99.99%)

• PAMP, Valcambi, and Heraeus gold bars (99.99%)

Compare live prices for all these products on our coins and bars pages.

Which Gold Products Are NOT GST-Free?

The following are NOT GST-free:

• Gold jewellery (even high-purity): subject to GST

• Numismatic or collector coins: proof sets, limited editions with significant premium above melt value

• Gold below 99.5% purity, including 22-carat (91.67%) coins such as the South African Krugerrand, the American Gold Eagle and Gold Britannias struck before 2013

• Gold in industrial form: granules, wire, plating

Dealer prices for Krugerrands and Eagles include GST, so compare them with 99.99% coins on total cost, not on premium alone.

If you are buying from a jeweller rather than a specialist bullion dealer, assume GST applies unless you have a clear written statement confirming it meets the investment gold criteria. All dealers on our dealers page sell GST-free investment gold.

What About Silver?

Silver follows the same rules as gold, with a higher purity threshold. Under the GST Act, silver of at least 99.9% fineness in an investment form is a precious metal, and retail sales of precious metals are input taxed. In practice, no GST is charged when you buy qualifying silver coins or silver bars from an Australian dealer.

The exceptions mirror gold. Silver jewellery, proof, coloured and other collectable coins, and silver below 99.9% purity, such as sterling silver or old circulating coins, generally attract GST. Delivery charges usually include GST too.

Because no GST is charged on investment silver, a GST-registered business has no GST to claim back on the purchase, and there is no GST when you sell. Our GST on silver guide explains which silver products qualify.

GST When You Sell Gold

When you sell investment gold back to a dealer, GST does not apply to your sale either. Because investment gold is input taxed, the supply is GST-free in both directions: dealer to buyer and seller to dealer.

This makes physical gold one of the most tax-efficient forms of precious metal ownership available to Australians. You buy without GST, and you sell without GST. Your only tax exposure on a profitable sale is Capital Gains Tax. See our CGT guide for gold investors for a full breakdown.

GST and Imported Gold

If you purchase gold from an overseas dealer and import it into Australia, GST may apply at the border for shipments above the low-value threshold (currently A$1,000 for taxable goods). Investment gold may still be exempt if it meets the criteria, but the rules for imported goods can differ from domestic purchases.

BullionStar NZ, which we list on our comparison pages, ships from Singapore. Their prices are shown in AUD but you should confirm with them whether GST applies to your specific order before purchasing.