IRD issues an exposure draft on whether the proceeds from the sale of gold are income, and finds it hard to identify reasons why they are not

By GCRU Gold News on Thursday, March 3 2016, 10:44 - Permalink

The IRD says all gold gains are taxable for holders of bullion, bars, investment coins and 'paper gold'.

They are not 'capital gains' as some believe.

The position applies to all other precious metals too.

IRD issues an exposure draft on whether the proceeds from the sale of gold are income, and finds it hard to identify reasons why they are not