30 November 2016
Bartering (also known as countertrade transactions) involves entities exchanging goods or services for other goods or services without involving any money.
These transactions are the same as cash or credit transactions. This means you should consider:
We have recently developed a new practical compliance guideline (PCG), explaining our approach towards certain countertrade transactions that are GST neutral.
Check out the PCG for examples on how our approach applies in practice and to see if it applies to your business.
Please note that the PCG does not apply to countertrade transactions between members of a ‘barter scheme’ conducted by a barter or trade exchange.
Remember, registered tax agents and BAS agents can help you with tax and super advice.
Find out about:
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