Monday, 17 May 2021
QSL is introducing 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
Existing statement and GST arrangements will continue to apply to all payments made in the current financial year. The change to the new statement format will align with the GST change on 1 July 2021, making it easy for growers to identify when the new GST arrangements come into effect and which payments it applies to.
From 1 July 2021:
1. QSL will apply 10% GST to its sugar payments in Wilmar milling districts
2. QSL will issue 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.
Your local QSL team will host regular training sessions ahead of the rollout of the new statement and GST arrangements on 1 July 2021 and are available to answer any questions you may have regarding these improvements. For further information, please contact your local QSL team for details of an information session near you, or click the links below.