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A New Tax System (Goods and Services Tax) Act 1999
38‑385 Supplies of precious metals38‑385 Supplies of precious metals
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38‑385 Supplies of precious metals
A supply of *precious metal is GST‑free if: (a) it is the first supply of that precious metal after its refining by, or on behalf of, the supplier; and (b) the entity that refined the precious metal is a *refiner of precious metal; and (c) the *recipient of the supply is a *dealer in precious metal.
Note: Any other supply of precious metal is input taxed under section 40‑100.