Tax in Ontario
Sales tax when you buy gold in Markham
Gold jewellery in Ontario carries 13% HST. On a $1,000.00 ring that is $130.00 of tax, for a total of $1,130.00. The rate in Markham is the same as anywhere else in Ontario.
Bars, ingots, wafers and coins of gold or platinum at least 99.5% pure, or silver at least 99.9% pure, carry no GST/HST. This is the federal rule, so it applies in Ontario too (Canada Revenue Agency, GST/HST Memorandum 17-1). A Gold Maple Leaf coin qualifies. A 14K chain or a 22K coin does not.
Ontario charges one harmonized tax, so bullion that is free of HST carries no other sales tax.
Tax when you sell gold in Markham
You do not charge sales tax when you sell your own jewellery or coins. If you sell for more than you paid, the profit can be a capital gain, and half of a capital gain is added to your income. For jewellery and coins, a sale of $1,000 or less usually leaves nothing to report.How tax on selling works.
Tax rates were checked on Oct 7, 2026; see the Canada Revenue Agency for the current ones. The federal GST is 5%. This is general information, not tax advice.