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  • Gold, silver and platinum granules

    Precious metal

    Precious metal is defined at section 195-1 of the GST Act to mean:

    • gold (in an investment form) of at least 99.5% fineness
    • silver (in an investment form) of at least 99.9% fineness
    • platinum (in an investment form) of at least 99% fineness, or
    • any other substance (in an investment form) specified in the regulations of a particular fineness specified in the regulations.

    Investment form

    • Gold in granular form is not gold in 'an investment form'.
    • Silver in granular form is not silver in 'an investment form'.
    • Platinum in granular form is not platinum in 'an investment form'.

    Taxable supply

    Gold granules, silver granules and platinum granules are not considered to be a 'precious metal' for the purposes of the GST legislation and therefore will be subject to GST.

      Last modified: 01 Sep 2015QC 16450