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How does Revenue Canada regard barter transactions made through the Canadian Barter System?

April 26, 2017barter Canadian regard revenue system transactions

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How does Revenue Canada regard barter transactions made through the Canadian Barter System?

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Barter transactions are considered by Revenue Canada to be the same as cash transactions, and are similarly subject to taxation. This is illustrated in the Revenue Canada Interpretation Bulletin IT490, dated July 5, 1982. For a copy of the IT490 bulletin, you may contact our offices or Revenue Canada directly. Please use the contact form provided on this site. We recommend that you contact a tax consultant for any further information or advice.