EFT/RCTI Form for Payments

What is a Recipient Created Tax Invoice (RCTI)?

In certain situations the purchaser (ie Bean Growers Australia) is able to issue a tax invoice (known as a Recipient Created Tax Invoice) to the seller (ie you, the grower). The RCTI is issued after the purchaser (ie Bean Growers) determines the value of the goods following a qualitative or quantitative analysis (ie Bean Growers assesses the quality and weight of the soybeans when they are delivered). Bean Growers Australia is then able to pay you immediately, based on the RCTI, rather than you having to generate a tax invoice and send it to us for payment.