Is Gold Trading Taxable in Australia? What Buyers and Sellers Must Declare
Gold is also a preferred investment for Australians who want stability and long-term value. As more people are becoming interested in physical gold and exchange-traded funds (ETFs), it is essential to know the tax implications related to them. The non-compliance may be severely punishable. This blog explains the main tax consequences of purchasing, selling, or trading gold in Australia and what you need to report to the ATO. Understanding Gold as an Investment in Australia The gold in Australia is categorised as investment gold or collectable (numismatic) gold. Investment gold is usually bullion bars or government-coined coins and is generally purchased as a wealth preservation asset. In contrast, numismatic gold has the added value of being rare or historically significant. Investors can have physical possession of gold, exchange-traded funds (ETFs), futures, or contracts for difference (CFDs). Investment-grade gold is a financial product under Australian law, where it is traded throu...