Welcome to your new Farm Source statement

The new-look monthly Farm Source Customer Statement now comprises multiple documents that have been IRD approved.

In order to adhere to tax legislation, we are providing you multiple documents to make it clear which Party is providing you the tax invoice and, therefore, which documents you can use to claim GST.

You will also notice we have modernised the look of the various documents and, following feedback, the Finance Summary has been enhanced.

The six documents you may receive each month, which are further explained below, are:

Your Summary
Your Statement
Your Tax Invoice
Your Payments & Other Charges
Your Finance Summary
Your Cash Sales

Your Summary

Your Summary has been carefully designed to give you a clear and concise snapshot of your current balances.

You will see:

  • What's due for payment this month and how it will be paid.
  • The great savings you've made by purchasing through Farm Source.
  • If you are eligible for the Farm Source Rewards programme, your FS$ balance and any FS$ due to expire in the next three months.

Your Statement

The Your Statement document, apart from not being a tax invoice, is largely unchanged from the previous Statement page you will be familiar with. It continues to provide a summary of all activity on your account for the month, with subtotals for each purchase section (e.g., Store Purchases, Direct Sales), concluding with the total due for payment.

The sub-totals combine the transactions from both the Your Tax Invoice and the new Your Payments & Other Charges documents.

We have made it very clear how payment of your account should be made e.g., if it is paid by Fonterra Milk Cheque or Direct Debit.

Any overdue interest is shown as a percentage per annum. Previously you may have seen interest as a percentage per month.

We have also updated the Farm Source contact details should you have any queries.

Your Tax Invoice

The Your Tax Invoice document provides a fundamental change. This document lists only the transactions on your account where Farm Source is deemed to be the provider of the Tax Invoice, therefore you can claim GST using this document.

For any Cash Sales referencing your account number, because Farm Source has already provided a tax invoice at time of sale, these will now appear in the Your Cash Sales document for your information only.

Finance Terms are now showing for transactions when they apply.

The transaction date for Direct Sales will now be the date the sale was charged to your account. We have also added the date the order was placed on as part of the description for your information.

The previously named Billing Partners section has been renamed Services Purchases.

Cards and Services discounts are now shown separately under a new heading. This section applies where Farm Source provides an additional discount over and above any discount provided by the Supplier. This is because Farm Source is providing the tax invoice for the additional discount amount only, as you will already have received a tax Invoice for the purchase on the Supplier (e.g. Meridian, Spark).

Fuel purchases are usually shown in this document along with any applicable discount as the fuel merchants no longer provide a tax invoice at the pump.

To make it simple, new total figures added at the bottom of Your Tax Invoice document will show the total amount you can claim GST for (if all purchases are business related).

Your Payments & Other Charges

This document lists all transactions where Farm Source is not providing the Tax Invoice. It also provides details of transactions that are not subjected to GST, such as payments and any interest charges.

Some of our third-party Service Providers (telco, power and insurance) provide a tax invoice directly, so because there can only be a single invoice per supply, Farm Source cannot also provide a tax invoice. To claim GST on these purchases, you need to retain the Tax Invoice from the actual service provider.

However, in cases where Farm Source provides you an additional discount, we will provide you a separate tax invoice for the discount amount. These discounts will be shown in the Cards and Services discounts section of Your Tax Invoice.

Using Meridian as an example, if you bill your power with Meridian through your Farm Source account, you will receive a tax invoice directly from them. These transactions show in Your Payments and Other Charges.

For Fonterra suppliers who are eligible for a discount from Farm Source, our discount will appear in Your Tax Invoice, under Cards and Services discount.

The previously named Billing Partners section has been renamed Services Purchases.

All Farm Source Rewards Card non-fuel purchases will be shown as part of Your Payments and Other Charges, as the retailers themselves provide a tax invoice at time of purchase. So, in summary, Farm Source Rewards Card purchases may be shown across two documents (Your Tax Invoice for fuel purchases and Your Payments and Other Charges for non-fuel).

Your Finance Summary

Financed transactions

This existing document captures all financed purchases made this month at a transaction level, along with any prior purchases now due for payment.

Purchases due in the future

One of the key pieces of feedback we received was wanting more clarity around financed purchases and when they are due.

Our new table lists all financed transactions including any finance interest due in the future, and shows the instalment amount due by month.

For each month, the table also shows for each transaction whether interest is payable and when the final instalment is due.

Your Cash Sales

For Cash Sales referencing an account, because Farm Source has already provided a tax invoice, these will now appear in Your Cash Sales for your information only.

Your Cash Sales document will appear only in the months when someone has made a purchase referencing your account and made payment at the same time.

If the item is a business expense, it is important that the tax invoice obtained at the time of sale is retained as proof of purchase to claim GST.

These transactions will no longer appear in the Store Purchase and Payment Received sections. They are also not included in the totals on Your Summary or Your Statement.

The exception is partial Cash sales as these will continue to be shown in the Your Tax Invoice, with the amount paid in the Payments Received section.

Have any questions?

See all of our Frequently Asked Questions (FAQs).