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  • » Bullion Baron: Screw the Taxpayer - ATO Compels GST on Bullion

#51 2016-06-29 03:52:25

SilverDJ
Member
From: Australia
Registered: 2014-11-01
Posts: 2,488

Re: Bullion Baron: Screw the Taxpayer - ATO Compels GST on Bullion

Captain Kookaburra wrote:
iceblue wrote:

Another Bullion dealer got the same auditor as SGB so am watching that. See how that ends, actually come to think of it the perthmint may have started conversation with the ato with that case?! Dunno only speculating.

It is true that there are a number of different auditors working with bullion dealers all over the country. It appears that they differ in their interpretation of the regulations, and what is/isn't investment or collectible metal.

Surely all you need in this case is a single auditor to rule in a positive fashion others can use that as a precedent to challenge the ATO?
Are these rulings publicly listed?

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#52 2016-06-29 04:46:36

BBQ
Member
From: Melbourne
Registered: 2010-08-29
Posts: 937
Trades :   

Re: Bullion Baron: Screw the Taxpayer - ATO Compels GST on Bullion

ATO were picking on this business due to the coin design; nothing else. It's more brilliant than any pathetic State Drone can fathom...therefore the need to 'regulate'.

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#53 2016-06-29 04:57:41

GoldenEye
Silver Stacker
From: Melbourne, Australia
Registered: 2014-12-30
Posts: 544
Trades :   30 

Re: Bullion Baron: Screw the Taxpayer - ATO Compels GST on Bullion

The Perth Mint is probably exempt from tax as state governments don't pay taxes.

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#54 2016-06-29 09:07:21

HoldMeTender
Silver Stacker
From: Nunya
Registered: 2016-01-06
Posts: 831
Trades :   10 

Re: Bullion Baron: Screw the Taxpayer - ATO Compels GST on Bullion

GoldenEye wrote:

The Perth Mint is probably exempt from tax as state governments don't pay taxes.

GST applies to purchases though i.e. we unwashed masses


All that glitters is not gold...
...but all that is gold glitters!

Windbag in Spandex

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