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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 38.385

Supplies of precious metals

    A supply of * precious metal is GST - free if:

  (a)   it is the first supply of that precious metal after its refining by, or on behalf of, the supplier; and

  (b)   the entity that refined the precious metal is a * refiner of precious metal; and

  (c)   the * recipient of the supply is a * dealer in precious metal.

Note:   Any other supply of precious metal is input taxed under section   40 - 100.


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