Gold or silver coins of 999 purity are GST free – Does that apply to bars as well?

I read that gold or silver coins of 99.9% purity are GST free – Does that apply to bars as well?


Yes, it applies to them regardless of the form – as long as purity is:
• gold not less than 99.5%
• silver not less than 99.9

From the IRD website covering GST exemptions:

http://www.ird.govt.nz/gst/additional-calcs/calc-spec-supplies/calc-exempt/#gsp
Supply of fine metals
Fine metal is any form of:

  • gold with a fineness of not less than 99.5%
  • silver with a fineness of not less than 99.9%
  • platinum with a fineness of not less than 99%.

The supply of fine metal is an exempt supply, such as any sale of fine metal by a dealer, or anyone importing fine metal.
Exception: When newly-refined fine metal is supplied by a refiner to a dealer as an investment item, it is a zero-rated supply.