Why use rcti

Where approval has been given for Monash to enter into an RCTI arrangement with with a supplier vendor , Monash will raise the RCTI and send the original to the supplier within 28 days of raising it. Please contact finance-gsthelp-l monash. Our awards home. Contact us home. Find a course Choose Monash. Supplier information. A RCTI operates as a substitute for tax invoice, not as an alternative.

If you receive regular funding from the Department such as an annual or recurring grant, and you are registered for GST, the Department expects you to agree to receiving a Recipient Created Tax Invoice. Where the Department pays for goods and services on the receipt of an invoice, e. This means that you do not have to set up new systems or amend current systems to generate tax invoices for the regular funding you receive from the Department.

Like tax invoices, RCTIs are subject to regulatory and administrative requirements. The Department as the recipient , and you the supplier, must have a written agreement that is current and effective when the RCTI is issued. The agreement must cover the following:. Funding agreements with the Department contain an appropriate RCTI agreement which you are required to agree to as part of signing your funding agreement. However, if you are not registered for GST, you cannot enter into such an agreement.

Exceptions to this may be granted by the Department and will be considered on a case by case basis. If you issue a tax invoice in error the RCTI issued by the Department will override that tax invoice. If you have any questions about this Department Sheet, please telephone the the Department's Tax Manager on 02 Last updated: 7 November - am. About the Department. What is a RCTI?

When would you expect to receive a RCTI? When would you expect to create a tax invoice? What are the benefits of having a RCTI sent to you?