Thursday, 01 July 2021
QSL has introduced an improved payment process for our growers in Wilmar milling districts from 1 July 2021, incorporating:
- New, easy-read statements
- Simplified GST arrangements
- New payment features on the QSL App
The improvements reflect grower feedback and include redesigned statements delivering new features, such as a new Tax Summary section which provides the key QSL figures required for bookwork in one, easy-to-find spot.
Payment paperwork has been streamlined and you'll also be able to access key payment information and notifications via the QSL App.
GST arrangements have also been simplified, with QSL applying GST to QSL transactions and issuing an RCTI/Tax Invoice for payments made from 1 July 2021. This will enable growers to enter their QSL sugar income, expenses and GST information into their bookwork just like any other RCTI, and distribute their GST more evenly through the year.
WHEN THE CHANGES APPLY
The new GST arrangements came into place from 1 July 2021, with existing statement and GST arrangements applied to all payments made prior to this date.
The change to the new statement format has been aligned with the GST change and also applies from 1 July 2021, making it easy for growers to identify when the new GST arrangements come into effect and which payments it applies to.
As of 1 July 2021:
1. QSL applies 10% GST to its sugar payments in Wilmar milling districts
2. QSL issues RCTI/Tax Invoices featuring a Tax Summary section noting expenses, revenue and GST
3. These amounts can be treated just like any other RCTI – simplifying bookwork
Note: QSL Growers will still need to record the income, expenses and applicable GST from their Wilmar RCTI and tax invoice.
For further information, please click on the links below or contact your local QSL team.