Gold bullion storage fees

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(Newbie)Newbie

11 Apr 2025

Hello,

How are gold bullion storage fees handled?

I pay storage fees daily on gold bullion which is a private investment. Can the storage fees be recorded as a deduction on the tax return for the financial year those fees were incurred? If not, my other thought was, if the gold bullion is sold, that storage fees over the entire time the asset was owned could be included in a CGT calculation.

For example, if gold bullion was purchased in January 2020 and sold in January 2023. Could you add up the storage fees from 3 years and use this in a CGT calculation? Or, would you include storage fees separately in tax returns for FYs 2020, 2021, 2022, 2023.

I accept it could be neither of what I suggested. Any guidance is appreciated, thank you.

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