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GST and the mining industry

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Published on 01 Apr 99 by WESTERN AUSTRALIAN DIVISION, THE TAX INSTITUTE

Mining as an industry gets special mention in the new GST Bill. These special provisions are restricted to the production of gold, silver, platinum and any other specified minerals. Gold, silver and platinum prices are internationally fixed. Gold dealers cannot recover GST on the supplies of gold that they make. The supplier would therefore become liable for the GST. To avoid this scenario, the Bill provides that the first supply after the precious metal is refined is "GST free" and subsequent sales are "input taxed". This all sounds very encouraging, but what in fact does it mean?

Author profile

Prof Glenton Barton CTA-Life
Glen is a Professor in the Department of Accounting and Finance in the Business School of the University of Western Australia. He is a Barrister and Solicitor of the Supreme Court of Western Australia and former member in the General and Taxation Division of the Administrative Appeals Tribunal, Perth Registry and Life Member of the Taxation Institute of Australia. - Current at 01 October 2009
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GST and the mining industry

Author(s):  Glen BARTON

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