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  • Do you pay for things with goods or services?


    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:

    • whether there are any GST or tax implications
    • whether there are any ABN obligations
    • if you need to supply invoices
    • the kinds of records you need to keep.

    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.

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