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MISCONCEPTIONS ABOUT BARTER

Some misconceptions about barter exist in the business world, often a result of mixed messages. This knowledge deficit means that people build assumptions about the process of bartering, often likening it to haggling.  Images of inconvenience are conjured, however in reality, the use of trade exchanges streamlines the process of bartering.  Bartercard utilises innovative technology to make bartering a smooth process for both the buyer and seller.

 
Similarly, a shortage of facts about bartering has resulted in some people thinking that bartering can be used to dodge paying tax.  This is incorrect, with the Inland Revenue Department (IRD) viewing one Trade Dollar (T$) as equal to one New Zealand Dollar (NZ$) and treated exactly the same.  Barter transactions are assessable and deductible for income tax purposes to the same extent as other cash or credit transactions.  Please contact the IRD for more information about Bartercard and taxation.  Any beliefs that barter can be used for tax evasion are incorrect.

Another common belief in regards to bartering is that a direct swap must take place.  While originally bartering consisted of one farmer trading six pigs for a cow, today the process is very different.  Trade exchanges such as Bartercard operate as a third party record keeper that allows goods and services to freely flow between different members, without a direct swap having to occur. 
Bartercard facilitates and monitors all purchases (debits) and sales (credits) undertaken by its members.


Concerns about the price, service and quality of the goods and services are also misconceptions.  There is the odd rogue member trader that generates a bad impression for all, whom also provide a similar poor service to cash paying customers. Overall, Bartercard transactions are treated with the same high quality service and quality that cash customers receive. 

Finally, bartering offers no guarantees that members will always be able to source what they want or need on trade.  Like any cash transaction, there are times when goods or services may not be available.
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For more information on how Bartercard can benefit your business, please contact Bartercard today on
0508 BARTER (0508 227837)  or Click Here to enquire about joining.


 
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