Tax on gold/silver

11 posts in this topic

Hi All,

 

Can someone explain how tax is applied on earnings through Gold/Silver/Shares?

 

Is it included in base income to raise the bucket? or one pay some fix amount on it?

 

for example like in UK if you earn more than 10k a year on Gold, you pay 28% tax on earnings( after 10k).

 

What about loss, if you get loss in these, can this be compensated?

 

Thanks

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Investment taxes are only collected, if profits are realized, or interests or dividends are payed.

 

Following taxes have to be considered:

 

flat withholding tax ("Abgeltungssteuer") 25% of the earnings

+solidarity tax 5.5% of the flat withholding tax = 1.375% of the earnings

+church tax, if applicable

 

Each person gets a tax-free allowance of 801 Euro (for investment earnings).

 

Alternatively, you can opt to let your investment earnings be taxed by the income tax. However, this is only advisable if your overall income is low.

 

You can also settle losses with earnings, but of course the government won't pay any compensations for your losses :)

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Profits on the sale of physical gold and silver are taxed with your personal income tax rate if you sell within one year and losses can be settled with certain other earnings.

 

After one year you don't have to pay any taxes on sale profits

and losses can not be settled with other earnings.

 

In the case of bullionvault it depends if it is a real value claim or a money claim.

If it is a real value claim then the same rules as for physical gold and silver apply.

 

Xetra-Gold for example is seen as a money claim by the German tax authorities and therefore you have to pay 25% Abgeltungssteuer + Solidaritätszuschlag + Kirchensteuer on gains no matter how long you were invested.

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Hi We landed with my wife in Germany, and we would like to improve our financial situation. I have been reading in this fantastic forum and an Idea pop up in my head, I am not sure that its legal. So I would like to have your advice.

 

We created a selfemploye number in the finazamt and we are repairing cellphones, every time that we do a service we pay the sell tax that its 19%, at the end of the month we collect all the things that we buy and deduce the difference. we sell 100 euro we pay 19% if we buy 100 euro that its 19%. (so its nothing to deduce)

 

The problem is that in order to save we buy as minimum as possible. So that 19% its gone...

 

What about if we buy gold? then we will deduce the 19%

 

the next question is anyway when we sell the gold we will have to pay the 19%? for sure! right?

 

But

 

I found a property of 20.000 that produce 80 euros per month. Can I offer to pay in gold? It would be like buying with 19% discount!

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Best thing to do is take some out of each cellphone you're repairing, melt it down into the shape of a turd, pay forward excluding but not limited to forward clawed back tax exempt discount rebate considerations, and you should be ok.

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What about if we buy gold? then we will deduce the 19%

 

Wish life was so easy. Unless you repair the cellphones with tools made of gold or gold-plate the cellphones for your clients, both of which you will have trouble explaining the Finanzamt.

 

This will not work for the simple reason that you cannot use the purchase of gold under your business expenses because you do not use it for business but personal. By business I mean self employment, not a Gmbh or other form of business entity.

 

BTW, Gold is VAT free in Germany.

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Is there any German investment company where we can invest into ETF?

 

does the DAX have any such ETFs ?

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