On Mon, Jun 19, 2000 at 08:15:13AM +1000, [EMAIL PROTECTED] uttered:
> Mediated bater being, i do work for you and get
> X units of currency credited to my account and then i take my X units and
> purchase something from another participant, but of course no actual legal
> tender changes hands, you get the idea.
Barter and other LETS (Local Economic Trading Systems) are subject to
GST. It's the passing of _value_ down the chain that is subject to the
tax. Now your average "three chickens for this truckload of potatos"
barter is going to be hard for the tax man to track down. Mediated
barter systems, however, rely on an auditable paper trail.
I presume (IANAA) the way they'd tax these systems would be for an
estimate of the cash value of the transaction to be made and then tax
that. Since most LETS work on a comparison with cash value for
simplicity, this shouldn't be so hard to work out and hence would be
hard to fudge.
> Does this sound like a feasible or implementable idea ?? Any suggestions
> for furthur reading material so that i could get a better grasp of the
> topic ?? Shoot me down in flames for not having a clue perhaps ??
www.digicash.com
--
Rev Simon Rumble Opinions expressed in this email may
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