The short answer
Gold can be GST free in New Zealand, but only when it meets the legal definition of fine metal. The Goods and Services Tax Act 1985 treats the supply of fine metal as an exempt supply, which means no GST is added at the point of sale. Whether a particular bar or coin qualifies comes down to its purity, so the answer is always product by product rather than metal by metal.
What counts as fine metal
The Act defines fine metal by minimum purity:
- Gold refined to a fineness of not less than 99.5 percent
- Silver refined to a fineness of not less than 99.9 percent
- Platinum refined to a fineness of not less than 99 percent
A modern minted gold bar stamped 999.9 comfortably clears the threshold. So does a 999 fine silver coin of the kind sold in tubes and monster boxes. A sterling silver item at 92.5 percent does not, and neither do many older or collectible coins struck below these purities.
Metals that always attract GST
Copper and titanium are not fine metal under the Act, so GST applies to them in the same way it applies to any other goods. The same is true of jewellery and of numismatic coins whose purity falls below the definitions above. When comparing prices between dealers on these products, check whether the displayed price includes GST.
How to tell before you buy
Check the stated purity on the product listing and, if you are unsure, ask the dealer to confirm how a product is treated for GST before you pay. To make this easier we only stock Gold & Silver which are GST exclusive, so you can browse qualifying products in one place.
Why the distinction matters
GST in New Zealand is 15 percent, so the treatment meaningfully changes what you pay at the counter for the same weight of metal. It is one of the reasons fine gold and fine silver are the most common starting points for bullion buyers here, while copper and titanium are usually bought for their affordability and collectability rather than their tax treatment.
This article is general information only and is not tax or financial advice. GST treatment depends on the specific product and your circumstances, so confirm the details with Inland Revenue or your accountant.
Questions about a specific product? Visit the Williams Bullion showroom at 124 Peterborough Street, Christchurch, or call +64 3 667 2327.