| Disclaimer You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of private advice
Authorisation Number: 1051797326667
Date of advice: 19 January 2021
Ruling
Subject: Goods and services tax and importation of precious metal
Question
Is your importation of the 2016 ½ Oz Australia Lunar Monkey Colourised Silver Bullion Coins a non-taxable importation under subsection 13-10(b) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act)?
Answer
Yes.
This ruling applies for the following period:
Period ending 31 March 20XX
The scheme commences on:
1 November 20XX
Relevant facts and circumstances
You have bought some silver coins and are importing these coins into Australia.
The coins you purchased are the "2016 ½ Oz Australia Lunar Monkey Colourised 999 Silver Bullion Coins".
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 Subsection 13-10(b);
A New Tax System (Goods and Services Tax) Act 1999 Section 38-385;
A New Tax System (Goods and Services Tax) Act 1999 Section 40-100;
A New Tax System (Goods and Services Tax) Act 1999 Section 195-1.