FAQ

Frequently Asked Questions

What is a trade exchange?

200X is an organisation which administers the transfer and accumulation of trade credits amongst its members. We promote the effective trade of assets and services between members.

Who can I trade with?

Any member of the exchange. Anyone with assets willing to trade, within or outside the exchange.

Must I trade in 100% trade credits?

No, you have the option to trade on a part trade credit and part cash basis. You simply choose the proportion of trade at the time of the transaction.

Do I have to be in business to join 200X?

Our members are either in business, or have land, vehicle or other substantial assets which they trade. At 200X we are all about large trades, with rules and fees to suit the property trader.

Can I use 200X overseas?

Soon!  Stay tuned for soon to be licensed operations in Asia and NZ.

Do 200X transactions include GST?

If your business is registered for GST, yes!  Members should treat a Trade Dollar as they would a cash dollar from a tax perspective. Barter transactions are assessable and deductible for income tax purposes to the same extent as other cash or credit transactions.  Therefore, the advantages and disadvantages are similar to ordinary cash revenue or expenses.

How do I claim 200X transactions on my tax?

200X transactions are assessable and deductible for income tax purposes to the same extent as other cash or credit transactions. 

Is 200X real money?

Yes!  For taxation purposes the Australian Taxation Office considers one Trade Dollar (T$1) to be equal to one Australian dollar ($1).  Read More.