Private ruling: GST - precious metal
Date of advice: 16 April 2026
Published: 13 July 2026
Ruling period: 1 July 20XX to 30 June 20XX
Date scheme commenced: XX XXX 20XX

Ruling: Q1: Are you making a non-taxable importation under section 13-10 of the A New Tax System (Goods and Services Tax) Act 1999 when you import a gold bullion coin? | A1: Yes, your importation is a non-taxable importation.

Relevant facts and circumstances: On XX XXX 20YY, you purchased a gold bullion coin from an international gold trader. The gold coin is of a limited mintage of X coins. You imported the gold coin into Australia. The imported gold coin was assessed by the Australian Border Force as a taxable importation, and you received an including GST for the importation

Relevant legislative provisions: A New Tax System (Goods and Services Tax) Act 1999 section 195-1 . | A New Tax System (Goods and Services Tax) Act 1999 subsection 13-10(b)

Reasons for decision: Summary: Generally, the importation of goods into Australia is a taxable importation subject to GST. However, section 13-10 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) provides that an importation is a non-taxable importation in certain circumstances. Paragraph 13-10(b) of the GST Act provides that an importation is a non-taxable importation if it would have been a supply that was GST-free or input taxed (had it been a supply). In determining whether a supply of the gold coin would be GST-free or input taxed, it needs to be established whether the gold coin is a precious metal for GST purposes. This is because section 40-100 of the GST Act provides that a supply of precious metal is input taxed. Precious metal is defined in section 195-1 of the GST Act to include 'gold (in an investment form) of at least 99.5% fineness'. As the gold coin satisfies the minimum fineness specified, it will be precious metal if it is 'in an investment form'. The Goods and Services Tax Ruling GSTR 2003/10 Goods and services tax: what is 'precious metal' for the purpose of GST (GSTR 2003/10) provides guidance on the meaning of 'in an investment form' and, at paragraph 29, states: 29. ...for gold, silver or platinum to be in an investment form for the purposes of the GST Act, it must be in a form that: • is capable of being traded on the international bullion market, that is, it must be a bar, wafer or coin; • bears a mark or characteristic accepted as identifying and guaranteeing its fineness and quality; and • is usually traded at a price that is determined by reference to the spot price of the metal it contains. Paragraph 42 of GSTR 2003/10 clarifies that whether a coin is precious metal does not depend on its label as a bullion coin, proof coin or numismatic coin. Instead, the determining factor is whether the coin has the inherent characteristics of gold, silver, or platinum, regardless of its name. The gold coin you have imported is capable of being traded on the international bullion market. The coin bears a hallmark which is accepted as identifying and guaranteeing fineness and quality. It is usually traded at a price that is determined by reference to the spot price of gold. It therefore bears the inherent characteristic of gold bullion. As a result, the gold coin is 'in an investment form' for GST purposes and meets the definition of a precious metal in section 195-1 of the GST Act. The supply of the gold coin you have imported into Australia would be an input taxed supply if the supply had been made in Australia. As a result, your importation of the gold coin into Australia is a non-taxable importation under paragraph 13-10(b) of the GST Act and no GST is payable on your importation.