Need capital gains advice.

[BowerBoy]

Hello all . . .

I am very new to the forum but have a question someone may be able to help me with: I hold a certificate for about 12 oz of unallocated gold at the Perth Mint in Western Australia. I hold dual US/Aus citizenship but reside full-time in the US and it is increasingly unlikely that I will move back to Australia. 

I am now firmly in the camp of "if you don't hold it, you don't own it" and would like to liquidate my account at Perth Mint and immediately re-buy a similar quantity here in the US. My broker at Euro Pacific Capital tells me that is much more practical than converting to allocated and having it picked up or shipped here.

Somewhere I read that if you sell and "re-buy" in kind within a certain time period, you do not owe capital gains tax in the US, but I don't recall where I got that info.
Does anybody know about this? Thanks in advance.

[5huggy]

1 hour ago, BowerBoy said:

My broker at Euro Pacific Capital

I like Pete Schiff too!

I cannot tell you what the tax regimes between those two juristictions are - 

In the UK - you are liable for Cap gains only if you (on ALL assets) have made over 10k PROFIT  in the tax year in the Taxed environment - ergo most people "deal" inside the tax wrappers of ISA's, Sipps or Spread betting/CFD - all these are tax "efficient" means of staying out of CAPITAL GAINS!

BUT wad du I kno! 🙄😉