Question 1

Is gold subject to capital gains tax?

Accepted Answer

Gold is subject to capital gains tax in most countries when sold at a profit, but the rules vary significantly. In the US, gold is taxed as a collectible at up to 28%. In the UK, gold sovereign coins and Britannias are CGT-exempt as legal tender. Australia, Canada, and Singapore each have their own rules. Always consult a local tax professional.

Question 2

Are gold coins CGT-exempt in the UK?

Accepted Answer

Yes. In the UK, gold coins that are legal tender — specifically Sovereigns and Britannias minted after 1837 and 1987 respectively — are exempt from Capital Gains Tax under HMRC rules because they are classed as currency. Gold bars and other coins are subject to CGT.

Question 3

How is capital gains tax calculated on gold?

Accepted Answer

CGT on gold is calculated as: (Sale price - Purchase price - Allowable costs) × applicable tax rate. Allowable costs include dealer premiums, storage fees, and insurance. The holding period determines whether short-term or long-term rates apply in countries that distinguish between them.

Question 4

Does New Zealand have capital gains tax on gold?

Accepted Answer

New Zealand does not have a general capital gains tax. However, if you buy and sell gold with the intent to profit (i.e. you are a trader), the profits may be subject to income tax. Long-term buy-and-hold investors are generally not taxed on gold gains in New Zealand.

Buy today at $X, sell in 3 years at $Y — here's your exact tax bill across 7 countries.