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Buying Gold and Silver in Newfoundland
Buying from Newfoundland & Labrador Gold Dealers
Due to the high purchase price of gold and silver buying investment bullion from gold dealers in Newfoundland should be undertaken with care, and due diligence, especially when buying from a new dealer for the first time.
Investigate the dealer’s reputation online if possible, by reading reviews either here at Bullion.Directory or on other general business review websites, such as the Atlantic Provinces BBB. Examine consumer protection advice at Newfoundland Consumer Protection – and review listings or request advice from the Atlantic Provinces Chamber of Commerce – you may be surprised at what you learn.
Finally, after you’ve completed your purchase please add to our Newfoundland gold dealer reviews, by rating and reviewing your chosen company above – this will help future investors best select an NB gold dealer suited to their needs.
Are Bullion Sales Taxed in Newfoundland & Labrador?
Most precious metal bullion in Canada is exempt from GST/HST provided the precious metals are defined as bars, ingots, coins or wafers of gold, silver or platinum, refined to a minimum purity of 99.50% for gold and platinum, or 99.9% for silver.
Note that palladium products ARE subject to HST/GST.
For bullion and coins that fall outside of these purities, NL charges HST at 13% (The 2nd highest in Canada) however there is zero PST on Newfoundland bullion.
Bullion and coins are liable to Capital Gains Tax within Newfoundland as they are across Canada, subject to Personal-Use Property exemptions. These Listed Personal Property (LPP) the rules state that coins with a resale value and gain of $1000 or less are exempt from a capital gain.
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IMPORTANT: The above tax details are listed for information purposes only and are believed correct at time of publication. Bullion.Directory are not tax experts. All enquiries about national and provincial taxes should be addressed to the appropriate local body. Taxes and taxation are subject to change.