How does Perth Community Exchange work with paying taxes?
To the best of our understanding Cex cannot be converted to the national currency and if we are not dealing with the national currency it is difficult to see how cex transactions can be taxed. Money can be described by our society and legal system to mean “money that can be used in all transactions and in the repayment of all debt.” This is a cruical description because CES currency cannot pay off your home loan or your credit card debt and money under the federal reserve is only created when debt is created and because of this we do not consider CES transactions to be taxable. The best way to describe this system would be a system for recording the charitable exchange of gifts and favours and this system is backed only by moral and not legal obligation. By charitable we mean “to strengthen the community and to increase access to services and resources for all in the community”. There was also a ruling by the IRS in the USA in regards to a time / dollar trading system and it was ruled
