QSL STATEMENT GUIDE

QSL Statement Guide | Effective 1 July 2021 1

QSL STATEMENT GUIDEEffective 1 July 2021

FOR WILMAR MILLING DISTRICTS

Current as of 1 May 2021

QSL Statement Guide | Effective 1 July 20211

INTRODUCTION OF GST FOR GROWERS IN WILMAR MILLING DISTRICTS – 1 JULY 2021Following industry feedback and consultation with the Australian Taxation Office (ATO), QSL will apply GST to its grower payment transactions in Wilmar milling districts from the 2021/2022 Financial Year.

This means that from 1 July 2021:

• QSL will apply 10% GST to its sugar payments

• QSL will issue a Recipient Created Tax Invoice (RCTI)/Tax Invoice for sugar payments, with a Tax Summary section noting expenses, revenue and applicable GST

• This document can be treated just like any other RCTI – simplifying bookwork

• Growers will still need to record the income, expenses and applicable GST details from their Wilmar RCTI and tax invoice

To help support this change, QSL has introduced new payment documents which incorporate a Tax Summary designed to assist with bookkeeping.

This guide provides examples of these new documents as they apply for common QSL transactions, and highlights the key information required for taxation and bookkeeping purposes.

GST REGISTRATION STATUSIt is important to advise QSL if your business is not registered for GST, or if this status changes in the future. You can do so by calling 1800 870 756 or contacting your local QSL team.

Disclaimer

This Guide contains an overview of some of the key tax and accounting issues relating to grower payment transactions made by QSL in Wilmar milling districts. The information in this Guide covers these issues at a general level only. Nothing in this Guide constitutes financial, taxation or accounting advice. It does not replace advice sought from a suitably qualified advisor that can consider a grower’s personal circumstances. Growers therefore need to seek their own financial, taxation and accounting advice in relation to the matters covered in this Guide.

PRIVATE BINDING RULINGQSL has worked with the Australian Taxation Office (ATO) regarding its new tax arrangements and received a private binding ruling which approves our new approach. The ATO has advised QSL that it does not intend to dispute GST submitted using QSL’s previous GST treatment, but this previous GST treatment is no longer applicable from the 2021/2022 Financial Year.

Should you have any questions regarding QSL’s new GST arrangements, please contact your local QSL representative or call 1800 870 756.

!


NEW TAX SUMMARY FEATUREFrom 1 July 2020, QSL will begin issuing payment documentation which features a Tax Summary.

This Tax Summary draws together the key figures required to complete your bookwork, including the GST applied to QSL payments, as illustrated in the example below:

1 QSL ADVANCE PAYMENTSWhat it is: These figures are the combined QSL Advance payments and associated GST made for the payment period across all farms associated with this ABN. This should be treated as INCOME from QSL.

Where the details are: Each farm’s QSL Advances total is featured in the Sugar Payments section of the RCTI/Tax Invoice. Details of each individual farm’s QSL Advance payments are also provided in the QSL Transactions section of the Farm Statement*.

2 QSL GEI SUGAR PURCHASEWhat it is: This is the payment QSL makes to Wilmar for the transfer of the grower’s GEI Sugar to QSL for marketing purposes and reflects the same ‘Discovery price’ used for the redirected cane payment featured on the grower’s Wilmar RCTI. QSL’s GEI Sugar Purchase should be treated as an EXPENSE from QSL.

Where the details are: Each farm’s QSL GEI Sugar Purchase is detailed in the Wilmar Transactions section of that farm’s Farm Statement*.

3 QSL GST SUMMARY THIS PAYWhat it is: This provides the grower’s QSL Net Income, QSL Net GST and QSL Net Total figures for the payment period.

Where the details are: These figures represent the net outcomes of the QSL Advance payments and GEI Sugar purchase, and associated GST, detailed in the fields above it.

4 REDIRECTED CANE PAY FROM WILMARWhat it is: This is the Wilmar cane pay redirected to QSL as part of the transfer of the grower’s GEI Sugar to QSL for marketing purposes. This reflects the same Wilmar ‘Discovery Price’ used for the corresponding GEI Sugar Purchase QSL pays to Wilmar (effectively making the transfer of the grower’s GEI Sugar from Wilmar to QSL a zero-sum transaction). This figure also incorporates any allowances, deductions, CSA expense charges, the cane constant and the GST on any of these items (including the cane delivery) passed on by Wilmar.

Where the details are: You can find each farm’s redirected cane pay from Wilmar in the Wilmar Transactions section of that farm’s Farm Statement*. As Wilmar only provides QSL with a net figure, you must refer to your corresponding Wilmar RCTI for details of this Wilmar payment/charge.

5 AMOUNT DUEWhat it is: This is the total amount to be disbursed, and reflects your QSL Advance payment +/- any charges or payments passed on by Wilmar.

Where the details are: You can find an overview of each farm’s QSL sugar payments and adjustments in the Sugar Payments section of your RCTI/Tax Invoice, with further details of each farm’s adjustments listed in the Farm Statement*.

For full examples of QSL’s new payment documents, please read the EXAMPLE DOCUMENTS section of this document.

* Growers can find their Farm Statement within the Full Statements available in their QSL Direct account.

*S000001

*S00

0001

*

2021 Season

Recipient Created Tax Invoice / Tax Invoice

Statement Date : 15 July 2021Cane deliveries to midnight : 10 July 2021Miller: Wilmar Sugar Australia Limited

Grower: John Farmer ABN 12 345 678 900

144414/000001 D-002

Mr Jamie SmithUnit 1123 Sample StSAMPLETOWN QLD 4000

Amount Banked

$51,995.26Total GEI Sugar Tonnes Actual

97.14

Did you know that QSL pays a Loyalty Bonus to growers who select QSL as their marketer for 3 seasons in advance? To qualify for the 2021 Season bonus you must nominate QSL as your GEI Sugar Marketer for the 2021, 2022 and 2023 Seasons by 30 June 2022.

QSL Pricing Pool IPS Tonnes Net $ per Tonne IPS

Advance Rate %

Advance Rate $ per Tonne

Early-Start Actively Managed Pool 580.58 $426.74 72.5 $309.38

Harvest Pool 404.51 $418.47 72.5 $303.39

US Quota 34.13 $716.20 72.5 $519.25

Total 1019.22

Pricing Overview

Weighted average current advance rate

Sugar IPS $314.03 Cane (Estimated) $25.01

Weighted average season total


[email protected] us help you. Reach out if you have any questions.Queensland Sugar Limited ABN 76 090 152 211

For recipient indicated above: This document contains confidential information and is solely intended for the grower identified above and their authorised viewers. If you have received this document in error, please notify QSL Direct on the above mentioned details. Please also destroy the original and all copies of the document if you are not the intended recipient.

Privacy: You have received this document from QSL as you are a grower (or an authorised viewer of that grower) who has selected QSL to market some or all of your GEI Sugar. This document contains your personal/confidential information. QSL takes your privacy very seriously. View our Privacy Statement on QSL’s website. When you select QSL as your GEI marketer, you thereby consent to QSL collecting and using the personal/confidential information that you provide to QSL, in the operation of QSL’s business. You also consent to your personal/confidential information being made available by QSL to your authorised viewers.

1800 870 756 qsl.com.au

Page 1 of 2

Income Expenses

Amount GST Amount GST Net Total

QSL Advance payments $51,292.03 $5,129.20 $56,421.23

GEI Sugar purchase -$45,535.35 -$4,553.53 -$50,088.88

QSL GST summary this pay Net Income $5,756.68 Net GST $575.67 53.233,6$ latoT teN

Redirected cane pay from Wilmar $49,811.47 $49,811.47

Amount Due $56,143.82

invoice/adjustment relates.

Tax Summary

1

2

4

3

5


FREQUENTLY ASKED QUESTIONSThe following Questions and Answers cover common queries regarding QSL’s new statement and GST arrangements for growers in Wilmar Milling Districts. Your local QSL team is also available to assist with any questions you may have, or you can contact the QSL Direct Helpline on 1800 870 756.

What do the changes involve?QSL is introducing a new and improved payment process from the 2021/2022 Financial Year, with new, easy-read statements and simplified GST arrangements applying from 1 July 2021.

Who do the changes apply to?All growers using QSL Direct will receive the new-look QSL payment documents. In addition to this, new GST arrangements will also apply to QSL growers in Wilmar milling regions and they will receive QSL RCTI/Tax Invoices from 1 July 2021. (These GST changes are not applicable for any other QSL growers).

Why are you making these changes?We appreciate that you’re used to our old paperwork and GST arrangements, but we’ve received consistent feedback that we need to make it better. So we’ve worked with growers from around the state to design statements that are easier to understand and use. The changes to our GST arrangements should also make your bookwork easier to do – so all that should save you time and effort in the long run.

When do these changes come into effect?QSL’s new RCTI/Tax Invoices and GST arrangements will start from 1 July 2021. That means they will apply to QSL Statements dated on or after that date – including your final 2020-Season Advance payment (scheduled for mid-July 2021) and 2021-Season payments made from 1 July 2021.

Will any 2021-Season payment made before 1 July 2021 also be made under these new arrangements?No. Any 2020 and 2021-Season payments made prior to 1 July 2021 will be made under the existing statement format and current GST arrangements. It is only the payments made from 1 July 2021 in the new Financial Year that will be made using the new QSL RCTI/Tax Invoice and GST arrangements.

Does this mean I have to capture part of the 2021 Season under the old GST arrangements and part under the new GST arrangements?If you receive a 2021-Season payment before 1 July 2021, then yes. The changes are aligned with the financial year, rather than the start or end of the season. We’ve done this to try keep your bookwork as simple as possible. We’re also introducing the new RCTI/Tax Invoices at the same time as the GST change comes in, so that should make it easy to tell which payments need to be processed in the current way (i.e. those on the old statement format), and which payments have GST applied and need to be processed in the new way (i.e. those on the new RCTI/Tax Invoice format).


GST CHANGES

What is the GST change?GST is currently not applied to QSL transactions. As of 1 July 2021, GST will apply to QSL transactions and will be detailed on your QSL RCTI/Tax Invoice. This should make your bookwork easier, allowing you to enter QSL income and expenditure in the same way as you process your miller’s RCTI. As a general rule of thumb, from 1 July 2021 your net GST should be roughly equivalent to 1/11th of the amount banked from QSL, excluding where you have a Wilmar allowance or deduction that doesn’t have GST applied, or any negative account balance you may carry past 30 June 2021.

Does that mean I’ll be paying more GST?QSL’s GST changes will better align with the amount banked and distribute your GST more evenly across the season rather than impact the amount of GST you pay.

How does it work?1. From 1 July 2021, QSL will apply 10% GST to its sugar payments. 2. New QSL RCTI/Tax Invoices will feature a Tax Summary section noting expenses, revenue and applicable GST. 3. These amounts can be treated just like any other RCTI – simplifying your bookwork.

Please note that you will still need to record the income, expenses and applicable GST from your Wilmar RCTI and tax invoice in your bookwork.

Won’t this process inflate turnover?This can be prevented by entering the net result of your transactions. The Tax Summary on your QSL documents provides your net income and net GST. Growers concerned about this should discuss this option with their accountant.

Do I need to change what I’m doing for the current (2020/2021) financial year?No – the changes just apply from the financial year commencing 1 July 2021.

Has this new tax approach been approved by the Australian Taxation Office (ATO)?QSL has been working with the ATO regarding our new tax arrangements and has received a private binding ruling which supports our new approach.

Does this change mean there’s now an issue with my past BAS submissions using QSL’s previous GST treatment?No. The ATO has advised that it does not intend to dispute GST submitted using QSL’s previous GST treatment.

Can I keep recording QSL income in my bookwork the same way under the new GST arrangements?No. QSL is introducing GST to your sugar payments from 1 July 2021 and so you need to capture this differently in your bookwork. The good news is that this change should make your bookkeeping easier. Just enter the information detailed in the QSL RCTI/Tax Invoice into your bookwork just like you do for any other income or expense.

Does my accountant know about this?We’ve worked directly with regional accountants to ensure they’re aware of the statement and GST changes ahead. If you have any questions regarding what the changes mean for your bookwork, we recommend you speak with them about the best way to capture your QSL info from 1 July.

How will this affect my QSL Pre-Crush Advance Payment for the 2021 Season?As your Pre-Crush Advance Payment was made in March, it needs to be captured under the existing GST arrangements. Should you choose to receive the Pre-Crush Advance Payment next year, it will be captured under the new GST arrangements.

How will the last Advance payment for the 2020 Season (paid in July 2021) handle the GST change?As is the case with other QSL payments made from 1 July 2021, QSL will apply 10% GST to the final 2020-Season Advance payment made in July 2021 and growers will need to remit this GST to the ATO when they do their BAS.

Will the change to the new GST treatment during the course of the 2021 Season impact how much GST I’m paying?No – your net income at the end the financial year (tax year) will be same under both the old and treatments. The new treatment primarily changes the timing of the GST paid and the bookwork involved rather than having a material impact on the amount of GST paid. The net impact of GST on proceeds remains zero under both the old and new GST treatments, as generally any GST received on income will need to be paid to the ATO and any GST incurred with your expenses will be recoverable from the ATO.

THE NEW RCTI/TAX INVOICE


THE NEW RCTI/TAX INVOICE

What changes have been made to the statements?From 1 July 2021 QSL’s payment statements will be replaced with an RCTI/Tax Invoice featuring a new, easy-to-read layout. Key figures, such as the amount banked, delivered GEI Sugar and estimated cane tonnes, will be clearly identified at the top of each statement – making it easier to reconcile your QSL and miller paperwork. We’ve also introduced a handy Tax Summary, providing the key income, expenditure and GST figures required for your bookwork in one, easy-to-find spot. Other new features include a weighted-average cane price and handy reminders.

Will you still produce Quarterly and Annual Grower Accounts?Yes. These will also be updated to reflect the same kinds of improvements as our payment statements.

Why does my RCTI/Tax Invoice say that the cane tonnes are estimated?Wilmar does not provide QSL with the number of cane tonnes you have delivered, and so QSL uses your GEI Sugar, CCS levels and your district’s cane constant to calculate an estimate of the cane tonnes delivered. As we’re not privy to any other adjustments your miller factors into your GEI Sugar calculation, we can only provide a general estimate of your cane tonnage until your total is confirmed after the crush.

The cane tonnes on my QSL RCTI/Tax Invoice don’t match the cane tonnes on my Wilmar paperwork. Is that a problem?No. Wilmar does not provide QSL with your cane tonnes and so the cane tonnes figure quoted in your QSL paperwork is just an estimate that may differ from your Wilmar documents until it is confirmed after the harvest. For this reason, you should refer to your Wilmar paperwork for the exact cane tonnes delivered. It is important to note that your QSL payment is based on your GEI Sugar delivered to date, not cane tonnes, and so this is the key figure that you should check on both your QSL and Wilmar paperwork for each delivery.

I want more detail about each farm’s transactions. Where have my Farm Statements gone?Your Farm Statements feature in the Full Statement available in your QSL Direct Account. You can choose to have the Full Statement sent to you for each payment – just see your local QSL team to arrange this.

Will the new paperwork be issued in the same way?While the look of our payment paperwork is changing, you’ll still receive it in the same way you have previously.

Do I still need to refer to my mill paperwork for my bookwork?Yes. Your QSL documentation only details your QSL sugar pricing and payment information, so you will still need to refer to your Wilmar paperwork for details of your cane deliveries and any related expenses and allowances.


YOUR STATEMENT OPTIONSTo help reduce paperwork, the standard QSL payment statement sent to growers will be an RCTI, RCAN or Grower Account summarising that ABN’s tax, pricing and payment information. Known as the Concise Statement, this provides all of the information required for bookwork, without the detailed Farm Statements and ledger transactions provided by the Full Statement. Each grower’s Full Statements will still be available within their QSL Direct account, and they can opt to be sent these rather than Concise Statements by contacting their local QSL team. ^

FARM GROUPINGGrowers with multiple farms under the one ABN Farm may also be able to use farm grouping to consolidate their QSL payments and associated paperwork (Note: some restrictions apply). Please see your local QSL representative for details.

The following table covers common payment events and the QSL documents you will receive from 1 July 2021.

COMMON PAYMENT EVENTS & ASSOCIATED QSL PAPERWORK

TRANSACTION WHEN CONCISE STATEMENT Sent to growers

FULL STATEMENT Available in the grower’s QSL Direct account

Cane/Sugar Delivery

Made each Thursday for the previous week’s deliveries (ending Saturday)

• RCTI/Tax Invoice and ABN Summary


• Farm Statement for each farm that delivered

QSL Advance rate increaseNote: Advance rate increases may be combined with a sugar delivery payment

Usually made on the third week of the month



• Farm Statement for all farms that have delivered this season

Positive Wilmar adjustmentsIncludes:

• Rake adjustments

• CCS adjustments

• IPS adjustments

• Redirected allowances passed on without a cane/sugar delivery

When passed on by Wilmar



• Farm Statement for all farms where an adjustment payment has been advised by Wilmar

Negative Wilmar adjustmentsIncludes:

• Rake adjustments

• CCS adjustments

• IPS adjustments

• Redirected expenses deducted from your cane payment

When passed on by Wilmar

• RCAN/Tax Adjustment Note and ABN Summary

• RCAN/Tax Adjustment Note and ABN Summary

• Farm Statement for all farms where an adjustment payment has been advised by Wilmar

Mid-Season Farm TransferNote: It is essential that QSL is advised of changes to farm structure (farm sales, changed lease arrangements, ABN restructures, etc) as early as possible to ensure the necessary changes to payment arrangements can be processed.

When QSL is advised that the matter has settled in accordance with the Farm Transfer Deed

• RCTI/Tax Invoice or RCAN/Tax Adjustment Note, and ABN Summary

• RCTI/Tax Invoice or RCAN/Tax Adjustment Note, and ABN Summary

• Farm Statement for all farms covered by the Farm Transfer Deed

Quarterly Account StatementSummary of transactions for BAS preparation

At the end of each Financial Quarter

• Tax, ABN and Farm Account Summary


• Ledger transaction listing by farm

^

Financial Year Account StatementsSummary of transactions for income tax preparation

At the end of each Financial Year



• Ledger transaction listing by farm

^ ^ Please note that Quarterly and Financial Year Account Statements are an exception to the Concise Statement default arrangements,

with Full Statement versions of these documents sent to growers as standard.


EXAMPLE DOCUMENTSThe following examples illustrate the new QSL taxation documents provided for these common payment events:

• A standard QSL payment in a week with sugar deliveries, an Advance rate increase and third-party payment

• A QSL payment in a week with no sugar delivery but an Advance rate increase

• A negative CCS adjustment made in a week with no QSL sugar delivery or Advance rate increase

• A cost passed on by Wilmar in a week with no QSL sugar delivery or Advance rate increase

• A Quarterly Grower Account

Negative paysIt is important to note that where an adjustment results in a negative payment, the negative amount is carried forward on the ABN’s account. Unless otherwise specified, payment of negative amounts on your account are not required, with the amount owing carried forward and applied to your next QSL payment. The Tax Summary on the front page of your QSL RCTI/Tax Invoice flags the negative adjustments to be captured in your bookwork.

Further informationShould you have any questions regarding QSL’s new GST and statement arrangements, please contact your local QSL representative or call 1800 870 756.


*S000001

*S00

0001

*

2021 Season




144414/000001 D-002


Amount Banked


97.14



Advance Rate %



Harvest Pool 404.51 $418.47 72.5 $303.39

US Quota 34.13 $716.20 72.5 $519.25

Total 1019.22

Pricing Overview








1800 870 756 qsl.com.au

Page 1 of 2

Income Expenses




QSL GST summary this pay Net Income $5,756.68 Net GST $575.67 53.233,6$ latoT teN




Tax Summary

*S000001

*S00

0001

*

2020 Season


Statement Date : 12 June 2020Cane deliveries to midnight : 06 June 2020Miller: Wilmar Sugar Australia Limited


1300000000000000000000010201001211211120102120333333312123323030013

144414/000001 D-002


Amount Banked


97.14



Advance Rate %



Harvest Pool 404.51 $418.47 72.5 $303.39

US Quota 34.13 $716.20 72.5 $519.25

Total 1019.22

Pricing Overview








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Page 1 of 2

Income Expenses


QSL Advance payments 1 $51,292.03 $5,129.20 $56,421.23

GEI Sugar purchase 2 -$45,535.35 -$4,553.53 -$50,088.88

QSL GST summary this pay Net Income $5,756.68 Net GST $575.67 Net Total $6,332.35



1 QSL Advance payments for the supply of a right to market its interest in the sugar by the Grower to QSL to which the RCTI/RCAN relates; and2 GEI Sugar purchase for the supply of pricing and marketing services in respect of the sugar by QSL to the Grower to which the tax invoice/adjustment relates.

Tax Summary

NEW: Message feature

NEW: Tax Summary highlights the key QSL figures needed for your bookwork, including the new QSL GST component

Payment period details

Amount banked and tonnes delivered for each payment period clearly identified

Current value of your pricing choices, including estimated cane values

EXAMPLE – RCTI/TAX INVOICE



Let us help you. Reach out if you have any questions.Queensland Sugar Limited ABN 76 090 152 211

[email protected] 870 756 qsl.com.au

Page 2 of 2

2021 Season



Sugar PaymentsFarm No GEI Sugar

Tonnes ActualCane Tonnes

EstimateAmount Due Adjustments Amount Banked

123A 38.06 500.88 $25,466.55 -$4,148.56 $21,317.99

456A 59.08 934.76 $30,677.27 $- $30,677.27

Total 97.14 1,435.64 $56,143.82 -$4,148.56 $51,995.26

Please note that adjustments may include Third-party payments and/or any amounts — negative or positive — on the farm’s account.

Payment summary by farm. For a full breakdown of each farm’s payment details and adjustments, please see your Farm Statement, available in your QSL Direct account.


*S000001

*S00

0001

*

2021 Season




144414/000001 D-002


Amount Banked


0.00



Advance Rate %


Harvest Pool 934.49 $382.55 80.00 $248.66

Target Price Contract 1475.40 $422.16 80.00 $274.40

US Quota 49.18 $753.84 80.00 $490.00

Total 2459.07

Pricing Overview








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Income Expenses



GEI Sugar purchase $0.00 $0.00 $0.00

QSL GST summary this pay Net Income $52,627.78 Net GST $5,262.78 65.098,75$ latoT teN

Redirected cane pay from Wilmar $0.00 $0.00



Tax Summary

*S000001

*S00

0001

*

2020 Season




1300000000000000000000010201001211211120102120333333312123323030013

144414/000001 D-002


Amount Banked


97.14



Advance Rate %



Harvest Pool 404.51 $418.47 72.5 $303.39

US Quota 34.13 $716.20 72.5 $519.25

Total 1019.22

Pricing Overview








1800 870 756 qsl.com.au

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Income Expenses








Tax Summary

EXAMPLE: A QSL PAYMENT IN A WEEK WITH NO SUGAR DELIVERY AND AN ADVANCE RATE INCREASE

Zero tonnes indicates no sugar delivered during this

payment period.

The Advance rate increase is applied to all sugar delivered to date and results in an Advance payment which should be captured as INCOME from QSL. As no sugar was

delivered this week, there is no GEI Sugar purchase.





Page 2 of 2

2021 Season






123A 0.00 0.00 $15,995.01 -$2,559.20 $13,435.81

456A 0.00 0.00 $10,910.34 -$1,745.66 $9,164.68

789A 0.00 0.00 $30,985.21 $0.00 $30,985.21

Total 0.00 0.00 $57,890.56 -$4,304.86 $53,585.70

Please note that adjustments may include Third-party payments and/or any amounts — negative or positive — on the farm’s account.

The payment of an Advance in the absence of a sugar delivery indicates an Advance rate increase has been applied. These rate increases apply to all sugar delivered to date, rather than just the sugar delivered in a particular week. See the QSL Transactions

section of the Farm Statement for details.


*S000001

*S00

0001

*

2021 SeasonStatement Date : 15 July 2021Cane deliveries to midnight : 10 July 2021Miller: Wilmar Sugar Australia Limited

Recipient Created Adjustment Note / Tax Adjustment Note


144414/000001 D-002


Amount Banked

$0.00Total GEI Sugar Tonnes Actual

-7.40



Advance Rate %


Harvest Pool 304.27 $420.67 72.50 $304.99

Target Price Contract 342.13 $443.72 72.50 $321.70

US Quota 22.39 $718.40 72.50 $520.84

Total 668.79

Pricing Overview








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Income Expenses


QSL Advance payments -$2,460.89 -$246.09 -$2,706.98

GEI Sugar purchase $3,274.35 $327.44 $3,601.79

QSL GST summary this pay Net Income $813.46 Net GST $81.35 Net Total $894.81

Redirected cane pay from Wilmar -$3,600.40 -$3,600.40

Amount Due -$2,705.59


Tax Summary

*S000001

*S00

0001

*

2020 Season




1300000000000000000000010201001211211120102120333333312123323030013

144414/000001 D-002


Amount Banked


97.14



Advance Rate %



Harvest Pool 404.51 $418.47 72.5 $303.39

US Quota 34.13 $716.20 72.5 $519.25

Total 1019.22

Pricing Overview








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Income Expenses








Tax Summary

No payment has been made but a negative CCS

adjustment has resulted in a decrease to the GEI Sugar

tonnes delivered to date – hence the negative GEI

Sugar tonnes.

The negative CCS adjustment has resulted in less GEI Sugar being delivered to date than previously paid for. As a result, Wilmar passes through a negative cane pay

and QSL’s Advance payments and GEI Sugar purchase costs are also recalculated, resulting in a negative payment, as detailed below.

EXAMPLE: A NEGATIVE CCS ADJUSTMENT MADE IN A WEEK WITH NO QSL SUGAR DELIVERY OR ADVANCE RATE INCREASE





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2021 Season

Recipient Created Adjustment Note / Tax Adjustment Note





123A -7.40 0.01 -$2,705.59 -$344.52 $0.00

Total -7.40 0.01 -$2,705.59 -$344.52 $0.00

Please note that adjustments may include Third-party payments payments and/or any amounts — negative or positive — on the farm’s account.

The CCS reduction results in a revision of the GEI Sugar delivered to date and a recalculation of the Advances and adjustments due as a result. This is detailed in the

Farm Statement.


*S000001

*S00

0001

*

2021 Season




144414/000001 D-002


Amount Banked

-$119.69Total GEI Sugar Tonnes Actual

0.00



Advance Rate %


Harvest Pool 403.37 $383.14 65.00 $249.04

Self-Managed Harvest Contract 13.16 $753.84 65.00 $490.00

Total 416.53

Pricing Overview








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Income Expenses


QSL Advance payments $0.00 $0.00 $0.00

GEI Sugar purchase $0.00 $0.00 $0.00

QSL GST summary this pay Net Income $0.00 Net GST $0.00 Net Total $0.00

Redirected cane pay from Wilmar -$119.74 -$119.74

Amount Due -$119.74


Tax Summary

*S000001

*S00

0001

*

2020 Season




1300000000000000000000010201001211211120102120333333312123323030013

144414/000001 D-002


Amount Banked


97.14



Advance Rate %



Harvest Pool 404.51 $418.47 72.5 $303.39

US Quota 34.13 $716.20 72.5 $519.25

Total 1019.22

Pricing Overview








1800 870 756 qsl.com.au

Page 1 of 2

Income Expenses








Tax Summary

EXAMPLE: A CHARGE/COST PASSED ON BY WILMAR IN A WEEK WITH NO QSL SUGAR DELIVERY OR ADVANCE RATE INCREASE

No tonnes delivered during the payment period.

A negative amount banked is not a request for payment, but an amount owing that has been carried forward

on the farm/s account and will be applied to the next

QSL payment.

This Tax Summary reflects a charge/adjustment from Wilmar which has been applied in a week when there has been no QSL Advance payment to defray the cost. There is

no QSL GST transaction to be reported.Wilmar provides QSL with only the net figure to be applied, and so you must refer to

your Wilmar RCTI for details of this amount.





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2021 Season






123A 0.00 0.00 -$119.74 $0.00 -$119.74

Total 0.00 0.00 -$119.74 $0.00 -$119.74

Please note that adjustments may include Third-party payments payments and/or any amounts — negative or positive — on the farm’s account.

As there is no sugar delivery or Advance rate increase for this payment period, the charge passed on from Wilmar results in a

negative amount banked. This negative amount is noted on the Farm Account and carried forward to be applied to the next QSL payment.


*S000001

*S00

0001

*

Grower AccountMiller: Wilmar Sugar Australia Limited


144414/000001 D-002





1800 870 756 qsl.com.au

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Statement Period

01 July 2020 to 30 September 2020

Income Expenses


QSL Advance payments $921,423.50 $92,142.35 $1,013,565.85

GEI Sugar purchase -$974,589.38 -$97,458.94 -$1,072,048.32

QSL GST summary Net Income -$53,165.88 Net GST -$5,316.59 Net Total -$58,482.47

Redirected cane pay from Wilmar $1,040,951.17 $1,040,951.17

Tax Summary

ABN Summary

Amount GST Total

Redirected cane payment $1,040,951.17 $1,040,951.17

GEI Sugar purchase -$974,589.38 -$97,458.94 -$1,072,048.32

QSL Sugar Advance $921,423.50 $92,142.35 $1,013,565.85

Third-party payment -$76,721.38

Total disbursement $939,555.96

Amount Banked -$868,151.17 -$5,316.59 $862,834.58

*S000001

*S00

0001

*

2020 Season




1300000000000000000000010201001211211120102120333333312123323030013

144414/000001 D-002


Amount Banked


97.14



Advance Rate %



Harvest Pool 404.51 $418.47 72.5 $303.39

US Quota 34.13 $716.20 72.5 $519.25

Total 1019.22

Pricing Overview








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Income Expenses








Tax Summary

The Tax Summary reflects this ABN’s total QSL Income, Expense and GST amounts for the quarter, as well as the net redirected cane pay amount advised by Wilmar. The individual QSL transactions at a farm level are detailed in each farm’s Grower

Account section of this document.

This section provides a summary of the total transactions made for this ABN during the quarter.

EXAMPLE: A QUARTERLY GROWER ACCOUNT





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Grower AccountStatement Period : 01 July 2020 to 30 September 2020Miller: Wilmar Sugar Australia Limited

Farm 123AFarm Account Transaction Summary - 2020 Season

Amount GST Total

Redirected cane payment $294,206.58 $294,206.58


QSL Sugar Advance $254,584.71 $25,458.47 $280,043.18


Total farm disbursement $226,923.86

Amount Banked -$181,355.76

Farm 789AFarm Account Transaction Summary - 2020 Season

Amount GST Total






Farm 456A

Farm Account Transaction Summary - 2020 SeasonAmount GST Total







This section provides a summary of the total transactions made for each farm during the

quarter.

Queensland Sugar Limited ABN 76 090 152 211

Level 12348 Edward StreetBrisbane Queensland 4000GPO Box 891, BrisbaneQueensland 4001AUSTRALIA

QSL Direct Helpline 1800 870 756

Email [email protected]

www.qsl.com.au

QSL STATEMENT GUIDE

Documents

Transcript of QSL STATEMENT GUIDE