>selling>buy backuhhh silver chads?
This is what makes me hesitant to buy PMs.
10% buy tax sers very strong tokenomics, many moons await
dealers don't pay full price they have to make profit would be my guess
You gotta develop a good relationship with a pawn shop to get spot prices m8.
>>61573674>>sellingYeah most people selling now are desperate for cash. Your average pleb is being squeezed with credit card payments, rising cost of living, and low wages. Of course the dealer is gonna low ball you desperate wankers. You're supposed to wait until supply runs dry and comex and the lbma commit sudoku before selling.
>>61573674>silver >australian dollarsSo tax + monopoly money
>>61573781There's no GST on bullion in Australia
>>61573720Sucks to be American. Canadian buy sell spreads are way better. I dont know why Americans dont build out better networks of precious metals traders.
>>61573674what happens when you sell pm in australia? cash?direct into account?taxed up the ass?
>>61573802The image is Australian and is in Australian dollars that's what happens when it's a niche market with few operators
>>61573674Holy shit. Australia doesn’t even fucking matter. Just sink that entire shithole country into the pacific.
>>61573819Into your bank account and you pay capital gains based on your income tax so if you earn over $45,001 you pay 30% tax on it as it's considered income
>>61573828but if you take cash then at some point you'll need to deposit it
>>61573832You can't take cash they all do bank deposits due to money laundering and tax reasons
>>61573833isn't capital gains on pms in australia 28% or 14% if you hold for more than 12 months?
>>61573674It could be worse. I bought BTC at $126k and sold it at $85k
>>61573837Yes it's halved if you wait over 12 months but it's a not static 28% or 14% because the CGT is based on your income tax bracket so at 30% it will be 15% after 12 months if you earn between $45,0001 and $135,000
>>61573845how do they know if youve held for more or less than 12 months?
>>61573837In Australia we have what are essentially mandatory 401Ks called "Superannuation" where your employer pays 12% of your wage into a superfund or you can manage it yourself this is not taxed and you can also contribute more money yourself and you enjoy tax concessions by doing so you also pay 0% tax if you choose to withdraw it but it's taxed at 32% if your child or spouse inherits it meaning Australia does in reality have an inheritance tax, "super" is the main vehicle for wealth creation in Australia and investing in anything else other than real estate in subpar by comparison due to all the tax concessions you'll receive around it
>>61573868Self declaration mostly but also in Australia the tax laws work differently from the rest of common law where the burden of proof is on you and not the Australian Tax Office, the ATO makes the IRS look like a joke with the powers they have so if the ATO says you held it shorter than 12 months you have to prove you didn't or else it's gg
By the way the image you see of people queueing outside in Sydney to buy gold is from this place
Chinese are buying. Auspoors are selling.
>>61573878Oh yeah I read about it, the primary residence isnt taken to account when getting state pension so retirees sink their entire super into their house just to dodge taxesCan politicians please stop creating perverse tax incentives like thisAlso can Australia stop being Africa but with high tech resource extraction, it is kinda embarrassing that an Anglo nation just digs shot up and transports it to other countries
>>61573900Australia has some thing called "negative gearing" whereby if you lease your rental property below market value "creating a loss" you get a nice discount on your income tax to offset it which has lead to professionals like doctors, politicians and other high income earners like police officers to invest in property and then rent marginally below market value to get a large discount on their income tax while also benefiting from the increase in the value of their property the whole thing is a joke
>>61573912Unironically sounds like the economy is a dead man walking and you are going to get a Greece like correction unless you stuff the place with immigrants to keep the real estate ball rolling
>>61573941Well guess what we're stuffing the place with? Over 300,000 people in 2025 alone our entire population growth is from immigration we're filling the country with low skilled Indians and it has gotten so bad that our productivity levels have plummeted and real wages have stagnated so much they've been stuck at 2011 levels
>>61573954and we have a massive welfare state that will fold too if the music stopsAustralia's future looks like Argentina
>>6157397180% of the new jobs created in Australia for the last several years are either directly or indirectly taxpayer funded(non-market) that's how bad things have gotten the NDIS rorting would rival the Somali fraud in Minnesota
>>61573674This is like it aways was. If you want instant liquidity, the spread in PMs is dire. There are two ways of dealing with the spread. You can sell private (even Ebay works) or my favorite trick, to start buying years and years ago, for 20% of the actual spot.
>>61573833factually incorrect
>>61573674i bought my silver at $15muh buyback price is well in profit for memaybe stop being retarded and figure it outhint: no, you shouldn't buy and try to resell for profit the next day. hope this helps.
>>61574054No it isn't unless you're dealing with some shady business like a pawnbroker who will rip you off even worse in prices anyway
>>61573674This is the capital gains tax of PMs
>>61574064No it isn't the CGT in Australia is the same as your income bracket as it's considered income this is just what life is like in Australia where it's a niche market
>>61574059straight up lies m8, you getting paid to tell fibs online?
>>61573674What do you mean, "selling"?
>>61574074Point out where it says ABC Bullion or any other reputable business will pay you out in cash
>>61574081https://www.melbournegoldcompany.com.au/gold-buyers-melbourne.htmlVisit our gold buyers suite today at Suite 701, Level 7 / 227 Collins Street, Melbourne CBD, where our staff will value and assess your gold items on the spot, and if you agree, we will pay you directly in cash.
>>61574081I'm not going to do your research for you. >>61574117>spoonfeeding the thirdie
>>61574117Now find the same for every other state and territory
>>61573740If they aren't a refiner or a jewler with a legitmate business, the average boomer holding physical gold will be trusted no more than a tweaker trying to trade their shit in for dope.
>>61574064Physical PMs are taxed as a collectible which is worse than capital gains. I hope you have receipts to prove your cost basis isn't 0!
>>61574136I guess there's some fee to prove it's real? I assume normally the dealer pays spot price cause PM's are the same as currency otherwise. I have no clue really I never tried to sell silver or gold
>>61574059up to 5k cash no ID no reports, for both purchasing and selling.The trick is to have friends/family where you go in together and 'split' the purchase/sale. For eg if you sell an ounce between two people, each is getting less than 5k, so no ID or report required, and the sellers are more than happy to comply. You can do like twice a week and they won't give a fuck.
>>61574149>I guess there's some fee to prove it's real?Not really, no. They just weight the bullion and drop some products on it. I've been through one dealer that actually used a pressurized equipment to measure volume. But mostly is weigthing and some literal drops. The spread is for the immediate liquidity
>>61574167that could become a problem when gold hits over 10k kangaroo dollarydoo's an ounce.
>>61574199That will only happen by the end of 2027
How about waiting until the prices reverses?
>>61573674>thinking people gonna buy an asset where you're -20% at purchasethats why gold or bitcoin is 10x better than silver, even pokemon cards dont have this problem
never sell, retard
