Hi , would like an opinion on this scenario
In 2015 I bought an Australian 1oz silver Kangaroo coin (The Perth Mint Australian Kangaroo is a premier 1oz silver bullion coin, struck from 99.99% pure silver and issued as Australian legal tender (1 AUD)
Lets say I paid AU$15 for that coin. This coin is not considered rare.
In 2026 let's say I sell the coin for AU$115 , AU$100 more than purchase price.
Under the CGT exemption categories it says there is no CGT payable on "collectable coins or medallions" that are purchased for " $500 or less"
So my question ,for tax purposes is,: is this run of the mill 1oz silver kangaroo coin classed as a "collectable coin or medallion bought for less than AU$500" and thus not subject to CGT upon sale or would it be considered as an investment and taxed at a CGT rate of 50% of the profit (as it was held for more than 12 months.
Thanks in advance
495 views
2 replies