In the eyes of the Canada Revenue Agency (CRA), they consider barter income the same as cash income. $1 Trade Dollar is equivalent to $1 Canadian Cash Dollar.
Many business owners aren't aware the Federal Government in Canada passed the Barter Income Tax law in 1982. Please reference this link - www.canada.ca/...
When you purchase products and/or services for your business on barter through a business trade exchange, you want to keep the receipt and give to your accountant. This way you can write off the barter expense on behalf of your company. For personal purchases on barter, you cannot write off the barter expense as it is considered personal income to you.
For more information, please visit www.exmerce.com or call 403.215.9220. Try Exmerce Barter in Calgary FREE for 90 days!