Also Jacquesfresco, if you buy and sell PM'S on the ASX it is an taxable event!
If you buy and sell physical no tax applies:
http://www.perthmint.com.au/investment_invest_in_gold_faq.aspx
"Are there any taxes associated with holding precious metals or with taking delivery of precious metals in Australia?
There are no Australian taxes or duties on the import, export or domestic purchase and sale of high purity precious metal bars or bullion coins.
No Australian tax is generally payable by an international client on his/her deposit. You should consult your taxation advisor for specific taxation advice in your jurisdiction."
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