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 Replies: 21 / Views: 5,410 |
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Valued Member
Canada
183 Posts |
I hope not, but it is strange because the mint website now has a 'tax free' sort in their coin selection?
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Pillar of the Community
 United States
2448 Posts |
Well, that sucks! Obviously, they're taxing our hobby as if it's a bad habit. I hope Michael Bloomberg doesn't get wind of this.
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Valued Member
Canada
227 Posts |
Quote:
money penny, how do you get this info? the mint web site says that 20 for 20 is gst/hst/pst excemp. I think this is correct. There is no tax issue about $20 for $20. The other pure gold and silver coins from the mint will add PST from April 1, 2013 in BC. |
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Pillar of the Community
Canada
871 Posts |
What was the story in Ontario before the HST was introduced when it came to pure gold and silver coins? PST and/or GST applicable?
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Pillar of the Community
Canada
3690 Posts |
20 for 20 coins are tax exempt because they are a face value exchange. Same goes for the quarter and loonie circulation packs offerings.
If the sale is at FV, then there is no tax.
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Valued Member
Canada
430 Posts |
On the Mint's website, it states the following on $20 wolf coin:
Act now - this coin is expected to sell out rapidly!
Buy the commemorative coin that captures the haunting beauty of the wolf.
Top reasons to buy this coin today:
• Fine silver (99.99% pure)
• Strict limit of three coins per household
• No tax - GST/HST/PST exempt*
• No risk - satisfaction guaranteed or your money back
*Tax on shipping applies
So, there is NO taxes of any sort on the $20 for $20 coin.
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Valued Member
Canada
389 Posts |
So I live in B.c does that mean when I buy something that I already got taxed on say the Bird coins, that wont be 12% it will be 7?
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Valued Member
Canada
196 Posts |
The bird coin will still be 12%. Pure silver, gold platinum coins are PST applicable GST exempt. Bullion coins are tax free.
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Valued Member
Canada
183 Posts |
What is another 7%....I probably don't pay enough tax as it is! NOT! I thought this was canada, not Cyprus!? Hahah. With getting rid of the HST....some things will cost more, some less!?
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Pillar of the Community
Canada
1581 Posts |
Quote:
Pure silver, gold platinum coins are PST applicable GST exempt. Bullion coins are tax free.
How are bullion and NCLT distinguishable from a tax point of view? |
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Valued Member
Canada
196 Posts |
when you are selling a pure silver coin for more than the value of the silver content.
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Valued Member
Canada
192 Posts |
Hey what about my orders placed before the 1st but only get chared when they ship?
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Pillar of the Community
Canada
1581 Posts |
But, bullion coins are frequently sold with some premium.
Regular SML?
Wildlife SML (small premium)?
1.5 oz polar bear SML (big premium)?
All bullion.
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New Member
Canada
2 Posts |
Quote:
The bird coin will still be 12%. Pure silver, gold platinum coins are PST applicable GST exempt. Bullion coins are tax free. Sounds about right - my bullion dealer confirmed they won't be charging tax on SMLs. Mint boutique will start charging PST on the $20 for $20 silver coins. So I guess a silver product (no matter what %) that is a fixed price will be taxed but bullion that doesn't have a fixed price won't be? |
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Pillar of the Community
 Canada
2984 Posts |
Quote:
Sounds about right - my bullion dealer confirmed they won't be charging tax on SMLs. Mint boutique will start charging PST on the $20 for $20 silver coins. So I guess a silver product (no matter what %) that is a fixed price will be taxed but bullion that doesn't have a fixed price won't be?
That is what I have been saying , the Mint will charge PST on the $20 for $20. But no one else besides you believe me. Everyone keep giving that quote from the Mint site saying there is no PST on those coins. |
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Replies: 21 / Views: 5,410 |
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First Page
Posted 03/30/2013 06:49 am
