How does your government deal with bartering?

Discussion in 'Member Casual Chat' started by Puppy, Nov 29, 2018.

  1. Puppy

    Puppy Newly Registered

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    I am just wondering what your government does when it comes to people bartering. I think that in my country, the government does require that people report it on the income tax, but only if it's over a certain amount, as in, if you are just trading a jar of home-made relish for a block of cheese, this you don't have to report. I am not too sure exactly how "expensive" the items would have to be that would necessitate reporting. I also don't know how the government would assess the values of items being exchanged. Lastly I also kind of wonder how the government would be able to find out about these trades. It seems to me people can very easily barter in private.

    Anyway I just want to hear from the community here. I think this is an interesting topic.
     
  2. jmblt2000

    jmblt2000 Well-Known Member

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    If you are bartering for something like a vehicle or property, then there are tax implications... I have bartered services such as welding, gun smithing, reloading for other services like carpentry and electrical. Those are not reported...
     

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