What is an RCTI?
A recipient-created tax invoice is a tax invoice raised by the buyer instead of the seller. It’s common in scrap metal because the dealer works out the weight, grade and therefore the value at the point of purchase. The ATO requires a written agreement between the parties and that the buyer meets the relevant conditions.
Does AltScrap issue RCTIs automatically?
For approved suppliers whose ABN and GST status support it, the purchase makes the RCTI from the sale itself. Walk-in customers who aren’t GST-registered suppliers are handled as ordinary purchases with a receipt.
Where is the RCTI agreement stored?
It’s done online as part of the supplier signing up, and stays attached to their record — alongside their ABN, GST status and checked payment details.
Is this tax advice?
No. AltScrap makes records and documents from what you and your suppliers enter. Whether you’re entitled to issue RCTIs, and how GST applies to a given purchase, is a matter for you and your accountant.