Tax on Gold

[ArsenalPoker]

Hi, I am looking to buy physical gold coins and bars as an investment. I know about Metcon but their prices are ridiculous. I have been looking at international sites like APMEX, GoldSilver.com and Goldmoney. They all say that all customs fees, taxes etc are paid for by the buyer. How does the tax work with gold purchases? Also, what are the regulations if I go to Asia and buy a gold bar, then take it with me through the airport? Any info would be appreciated, thanks!

 

[Sokum]

Buy from FNB online and they have allot of info. with regards to Gold an they give a nice service.

 

[deweyzeph]

There is no tax on gold purchases. You pay tax on any capital gains you make on your gold once you sell it, or if you buy and sell gold regularly as a profession you will pay income tax on the profit you make.

And yes, FNB is the best place to buy krugerrands online.

 

[DJ...]

It depends on whether you're investing in actual gold or a gold derivative product. Gold will be liable for capital gains tax whereas derivatives products not. And trading is not liable to income tax but a special tax on investments at a lower rate...