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Supporting Documentation for Partnerships & Trusts

If the farm business applying for a RIC loan is a Partnership or Trust you will need to provide originals or certified copies of supporting documentation as listed below.

What type of documents?

For Partnerships (one of the following):

a partnership agreement; or

the partnership tax return; or

the minutes of a meeting of the partnership

For Trusts:

a full trust deed and any amending supplementary deed (executed and dated); and

the full name of the settlor of the trust (only if the asset contribution at establishment is $10,000 or more)

Certified Copy

Evidence of Australian citizenship or permanent residency needs to be a copy of the relevant documentation that has been certified as true and correct by an Acceptable Referee:

• Justice of Peace;
• A Police Officer;
• A permanent employee of the Australian Postal Corporation with 2 or more years continuous service who is employed in an office supplying postal services to the public;
• A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more year continous membership; or
• Any other individual before whom a statutory declaration may be made (see Schedule 2 of the Statutory Declarations Regulations 1993 (Cth)).

Cash Flow Budget

As part of your RIC loan application you will need to provide copies of your actual and projected budget cash flows.  To guide you as to what information RIC will need they have provide a downloadable template on their webiste.  Click here to download the template.

Actual Cash Flows – Current Financial Year

Your financial year-to-date actual results and a cash flow budget projection for the remainder of the current financial year.

Projected Cash Flows – Next Financial Year

Your cash flow budget projection for the next financial year.  If, as part of your application, you are forecasting a ‘significant financial impact’ over a 2 year period, you will need to include a budget for the applicable period.

Identification Requirements

As part of your RIC loan application you will need to be able to provide documentary evidence (proof) of the identity of all the individuals associated with your farm business. This includes:

• Sole Traders
• Partners in a Partnership
• Authorised Signatories for any organisation
• Beneficial Owners for Companies
• Company Directors
• Individal Trustees to a Trust

Verifying your identity

The acceptable identification must contain the individuals full name and either residential address or date of birth.  The acceptable identification documents comprise:

• One primary photographic identification document: Passport, License, Proof of Age Card, Foreign National Identity Card; or
• One primary non-photographic identification document: Notice issued by a Commonwealth, State or Territory Department, the ATO, or (one that is less than three months old) from a Local Government Body or Utility Provider; and
• One secondary identification document: Birth Certificate, Citizenship Certificate, Pension or Government Health Card

Certified Copy

A certified copy of identification is one that has been certified as true and correct by an Acceptable Referee:

• Justice of Peace;
• A Police Officer;
• A permanent employee of the Australian Postal Corporation with 2 or more years continuous service who is employed in an office supplying postal services to the public;
• A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more year continous membership; or
• Any other individual before whom a statutory declaration may be made (see Schedule 2 of the Statutory Declarations Regulations 1993 (Cth))

Citizenship / Permanent Residency Requirement

At least one member of the farm business applying for a RIC loan must be an Australian citizen or have Australian Permanent Residency.

As part of your RIC loan application, you will need to provide evidence (proof) of Australian citizenship or permanent residency for that member of your farm business. We will ask you to upload copies of the certified documents to our secure form.

What type of documents?

• Australian Passport
• Australian Citizenship Certificate
• Evidence of Permanent Residency status

Certified Copy

Evidence of Australian citizenship or permanent residency needs to be a copy of the relevant documentation that has been certified as true and correct by an Acceptable Referee:

• Justice of Peace;
• A Police Officer;
• A permanent employee of the Australian Postal Corporation with 2 or more years continuous service who is employed in an office supplying postal services to the public;
• A member of the Institute of Chartered Accountants in Australia, CPA Australia or the National Institute of Accountants with 2 or more year continous membership; or
• Any other individual before whom a statutory declaration may be made (see Schedule 2 of the Statutory Declarations Regulations 1993 (Cth)).

A Season Update client is a farming entity that has previously had Latevo Farm Income Protection and has completed a Latevo Income Assessment.

If you are unsure if you are a Season Update client please contact Latevo or your broker for assistance.

A New Client is a farming entity that has not previously taken out Latevo Farm Income Protection or has never had a Latevo Income Assessement.

If you are unsure if you are have ever had a Latevo Income Assessment please contact Latevo or your broker for assistance.

Please ensure the cashbooks files are a detailed general ledger (transaction) by category report preferably in pdf format from your accounting software.  There should be an individual file for each financial year.

Do not provide summary files, we are specifically looking at your grain sales transactions and a summary file will not provide this detail.

If you would prefer not to provide your full cashbooks please ensure you provide your detailed grain transactions and any associated transactions such as share farming.