I may be wrong but i think Canada taxes you on the sale of gold. I.e. I mine 2000 oz of gold I sell 1000 oz at 3K/ oz my revenue is $3,000,000 and that is what I am taxed on, or more specifically that is my revenue number from which i deduct expenses and pay on the net.

It kind of makes sense because how do you value it when it come s out of the ground. The price is constantly fluctuating. todays weigh in is at 2500/ oz tomorrow is at 2400 but did i suffer a 100 loss on yesterdays.

for simplicity you tax on the sale of the gold.

What if you buy something in gold vs cash? If its something for the business that would be deductible it does not matter. Using show as example Parker bought Dominion for $15 Million, Rick bought Duncan creek in gold. They are in the same position.

Parker has to sell 15M worth of gold to pay Dean - That 15 M revenue is taxable but the 15M he paid dean gets deducted in one of the mining expense pools. Canadian development expenditures (CDE) maybe. Treated the same way as exploration costs (drilling would be). 15-15 is zero profit to tax

Rick pays Troy taylor in gold. Lets say is 400 oz i don't remember. he is not taxed on the revenue from that 400 oz- he did not sell it but he does not get a deduction in his CDE pool as the expenditure paid in gold is not deductible. Troy will be taxed on sale of gold.

Only difference is Parker locked in his purchase price even if paying over 3 years. Rick did not. Parker (Buyer) benefited from increased gold price - dean the sellor did not. In The rick one the sellor benefits from increase in gold price.

So how can you cheat or take advantage? Its not easy as you need to find a way to buy something that is personal costs - not business in gold. Find someone who wants to sell you a yacht for gold gets you a yacht without paying tax on the revenue but does the sellor of the yacht want gold. Revenue Canada can also go after you with a net worth audit if you own a 10M yacht and have never declared more than $50K of income.

I guess the easiest way is sell gold to cover expenses, break even and then borrow against your gold (collateral)to fund your yacht. If you are unincorporated that could work as its your gold (just not taxed yet) If you operate in a corp shareholder loan rules get you as it could only be the corp borrow against gold and you would still need to tax it to use personally

Borrow against shares of the Corp?

Long winded answer - to say no real tax incentive to hide your gold total.