Posted on: 14-05-10 09:53:21
Hi guys,
I am thinking of buying this for investment and also for making jewelery later.
I have the following questions:
1. Which is better to buy bar or Maple coins?
2. Do we need to pay any customs duties while taking Gold to India?
3. Where to buy Gold coins or bars in Canada?
Please share your thoughts.
Thanks
Do tell me how do you expect to make money?
Wafers.
No customs duty, upto a sum of.....??!! : http://indiacustoms.blogspot.com/2008/01/import-of-gold-silver.html
Don't buy in Canada. They TAX you here.
http://www.reuters.com/article/idUSTRE64C3Y220100513
Freddie.
Quote:
Originally posted by ftfl
Do tell me how do you expect to make money?
Freddie.
I was thinking ,If I can hold on to it for next 10 years ,I think I can double or even triple the investment.
13 % tax on the top of the gold makes it expensive. I will wait for the next trip to India via Gulf to buy.
Thanks Freddie.
Can I sell the gold that I have bought in India with a bill in Toronto to a Jeweler?
Do they give the on going bullion rates or a better rate?
Are there a lot of jewelers in Toronto who will buy Gold from me.
Thank u.
Hi Freddie,
So you are suggesting we buy the gold in Dubia to avoid HST here. Can we then bring this gold here rather than take it to India
Quote:
Originally posted by ftfl
Do tell me how do you expect to make money?
Wafers.
No customs duty, upto a sum of.....??!! : http://indiacustoms.blogspot.com/2008/01/import-of-gold-silver.html
Don't buy in Canada. They TAX you here.
http://www.reuters.com/article/idUSTRE64C3Y220100513
Freddie.
For those who want to buy and hold or collect, it is a lot economical to purchase where there are no taxes imposed on the sale of the item. DUBAI is one such place.
I saw the hotel lobby picture in one such hotel and brought it up to your attention. There may be many more countries and places where you can buy Gold openly and tax free.
In Canada, if you are buying it for melting and for ornaments, you can buy the WAFERS, also 99.9% pure, without paying any HST. But the jewelers who sell these add their sales commission on top. So buying gold here in Canada is made prohibitive. If you do know some one in the trade, they will help you a little.
For financial gains or the securities, it will be nice to do some research aboout this commodity and the field, prior to entry. Do remember you are in a wild ride as its volatility is high since it has gotten above the $1200 US level.
Do your due diligence, as always.
Freddie.
Thanks all.
