How to Buy Gold in Australia: Kangaroos & Tax Tips

The Australian Gold Kangaroo (24K, 1 oz, from the Perth Mint) is one of the world's most popular bullion coins — 99.99% pure, with a new kangaroo design each year, and backed by the Western Australian government. It is GST-free in Australia (as investment-grade bullion) and traded worldwide.

The Perth Mint also produces the Gold Lunar series (a new animal each year, popular with collectors) and a wide range of bars from 1 gram to 1 kilogram. For a buyer who wants the most gold for their money, Perth Mint bars carry lower premiums than coins; for liquidity and recognisability, the Kangaroo is the default choice.

Investment-grade gold (99.5%+ purity) is GST-free in Australia — you pay no goods and services tax on bullion bars and coins. Jewellery and lower-purity gold are not GST-free and carry 10% GST.

Capital gains on gold are taxed as capital gains. Individuals who hold gold for more than 12 months qualify for the 50% CGT discount — only half the gain is taxed. Keep records of every purchase (date, price, dealer) — you will need them when you sell, and the 12-month holding period is proven by the purchase date.

The Perth Mint sells Kangaroos, Lunar coins and bars directly, with delivery or storage in its vaults, and is the safest first stop for a new buyer. Established dealers — ABC Bullion, Ainslie Bullion, Gold Stackers, Perth Bullion — offer competitive premiums and buyback programmes.

Compare the total cost (including delivery, insurance and any payment-method fees) between two or three dealers before you buy. The Australian market is competitive, and premiums on common bullion are low — if a dealer's premium is far above the market, shop elsewhere.

A 1-ounce Kangaroo typically costs a few percent over the spot price; a 1-ounce bar costs less; a 1-kilogram bar costs less still. Premiums rise when demand surges and fall when it is quiet.

The Australian dollar's value matters too: gold is priced in US dollars internationally, so when the Australian dollar weakens, gold becomes more expensive in Australian dollars even if the US-dollar price is flat. Australian buyers should watch the AUD/USD rate alongside the gold price — in recent years, the exchange rate has been as big a driver of the local gold price as the gold price itself.

Small holdings can be stored at home in a good safe, but check your home insurance — many policies limit cover for valuables. The Perth Mint offers allocated vault storage for gold bought from it, with full insurance, and several dealers offer vault storage in Sydney, Melbourne and Brisbane.

For larger holdings, allocated vault storage (your specific coins or bars, held in your name) is the standard choice, typically costing well under 1% of the holding's value per year. Bank safe deposit boxes are an alternative, though availability varies.