Our Future

New Zealand Election 2011

It May Surprise You With the 2011 Election coming very close I have put this page together to explain the main policies that will affect Gold, Silver and Platinum. This also covers any New Zealanders who have a dream/goal of wanting to get ahead by investing in capital assets like; buying precious metals, owning a business, buying an investment property.

Currently

Currently Gold, Silver and Platinum of purity's which we deal in is exempt from GST and unless purchased under a business name is tax free. If purchased through a business there is currently a 24% Business Tax Rate which will apply to any profits.

Post Election

If National have the majority

Gold Silver and Platinum would stay GST exempt.

Profit from purchase to sale would continue to be tax free.

Businesses would have a 28% tax rate dropping by 2%.

If Labour have the majority

Capital Gains Tax of 15% on profits from the purchase and sale of Gold Silver and Platinum.

In my opinion, for them to measure this they will bring in tracking measures to find out; how much bullion, what we paid, where from and when we sell. They would probably do this by forcing business's like Kiwi Bullion to lodge all customer purchases with IRD so that you can be taxed at the later date when you sell. I believe that the Privacy of my customers should be kept exactly that PRIVATE and I do not want to be releasing this information to anyone.

Lowering of GST back to 12.5%.

Labour's tax policy is so vague that all the really important detail would be decided by a so-called 'expert' panel. I think when they start all this extra spending they are going to start including extra items which are currently GST Free possibly including Gold, Silver and Platinum.

From the Author

This page has been created by Chris Heaps and is my opinion and should be treated as exactly that. Please remember to have your say on Election Day. I hope this gives you an outline on Capital Assets in this Election.