PDA

View Full Version : Kitco Pool Palladium



kornholio
02-11-2009, 05:06 PM
Okay so I've been researching Pd investing and it seems now may be a good time to buy. I had some money in my Kitco account (from selling Silver pool) and thought since it can be hard to find physical, that I would go with unallocated pool.

So I go to purchase some, and it brings up the cost plus a 5% tax. What's the deal with that? There isn't any "tax" when buying their silver pool. For 5% plus their buy/sell spread, I may as well go find some physical Pd.

a793aa
02-11-2009, 07:43 PM
I'm wondering if you live same state as Kitco's USA address. That reason could get you to pay taxes :

USA
64 Lake Street, Suite 101
Rouses Point, NY
12979


CANADA
620 Cathcart,Suite 900
Montreal,Quebec
H3B 1M1

kornholio
02-11-2009, 08:27 PM
Nope, I live in Canada and not in the same province as their Canada HQ.

I suppose it could be the national 5% GST, I didn't think it applied to any bullion though. I'll have to read up on it.

RareEarth
02-11-2009, 08:56 PM
Nope, I live in Canada and not in the same province as their Canada HQ.

I suppose it could be the national 5% GST, I didn't think it applied to any bullion though. I'll have to read up on it.

I live in Canada too. From my understanding, palladium bullion is taxable here while gold, silver and platinum is not. I think it not considered a "precious" metal which is BS but thats the way it is here. Bullion "coins" such as maples are taxable in Canada (even gold, silver and platinum). Gold, silver and platinum bullion "bars" are tax free.

Carssman
02-12-2009, 12:07 PM
I live in Canada too. From my understanding, palladium bullion is taxable here while gold, silver and platinum is not. I think it not considered a "precious" metal which is BS but thats the way it is here. Bullion "coins" such as maples are taxable in Canada (even gold, silver and platinum). Gold, silver and platinum bullion "bars" are tax free.

Where did you get this infor from, I am seriously considering buying up some from NWT, But i mean if i have to pay 5% at my door it might not be worth it..... I too reside in Canada. DO you have any for sale?

RareEarth
02-12-2009, 08:26 PM
Where did you get this infor from, I am seriously considering buying up some from NWT, But i mean if i have to pay 5% at my door it might not be worth it..... I too reside in Canada. DO you have any for sale?

Hi

The info on Palladium being taxable in Canada for not being a "precious metal" actually came from Kitco itself when I attempted to order some ages ago (when they actually had some). I did not proceed with an order at that time because of the tax. As for the bullion/coin thing, I spoke to someone at Thomas Cook and they explained that taxes are applicable on gold/silver/platinum maples (bullion coins) but not bars.

Don't worry about Canadian taxes on stuff you order from the US. I have ordered a number of times from the NWT mint and have never been taxed at the door. The only issue with NWT mint is the the long wait to recieve it. However they do have some 1/4 oz rounds in stock through their store only which would be delivered in 30 days. I just bought some too.

Sorry, but I don't have any for sale. It just such a hassle building a stack here.

MyBids
02-12-2009, 10:35 PM
From what someone put up along time ago...there is some reason that Canada doesn't consider PD to be 'pure enough' to be considered a PM in Canada. Besides that, I don't know.