RCTI

In Australia, this is known as a Recipient Created Tax Invoice. Oxcel will issue an RCTI when you are paid commissions.

The Commissions processing timeline is important to understand in order to plan for expected payments. Below is a guide which outlines a general processing timeline:

If you are unsure about when you should receive an upfront commission, please refer to the Lender Commissions guides in Infynity under Resources --> Document Library --> Switch to Business Documents View --> Lender Commissions.

Oxcel_LoanKit Upfront Calculation and Timing Doc will assist with understanding the timing of upfront commissions as each lender differs.

Once commissions have been paid, if you are set up to receive an RCTI via email, this will be sent from [email protected]. Please remember to check your junk / spam folders.

If you have trouble receiving this, you can view your RCTI from within Infynity under the Admin tab >> Commissions. Here you can view our RCTI and also complete a Commission Search and lodge Commission enquiries, if required.

Each month commissions are processed at the end of the month. Payment occurs between the 27th and the 31st of each month. You can also find the Commissions payment calendar in the above mentioned Lender Commissions view in Infynity.

Once the end-of-month commissions have been processed, head brokers will receive a Commissions Report (RCTI) which outlines the transactions with the lenders.

Your RCTI will itemise all of your upfront and trail commissions received for the month, as well as any fees charged.

If set up, sub brokers will also receive and have access to their sub broker RCTI which is a shortened version of the Head Broker’s RCTI showing just their own payment details.

Within the Commissions RCTI Files, you can select the relevant entity and date range for your commission RCTIs.

Understanding your Commission Report. Below we have included some screenshots to help you understand what information is included on your RCTI.

Upfront and Trail payments are itemised as per below

For any general enquiries such as missing payments, please contact the commissions team via [email protected] if you are a Oxcel Broker or [email protected] if you are a LoanKit broker and the team will get back to you as soon as possible.

Please allow up to 2 business days.

Also include information such as Client Name, Lender Name, Loan Amount, Loan Number and Settlement Date.

You can also complete a commission search and or request a general query from within the commissions tab by using the General Query tab.

If you wish to query the fees on your RCTI, our Broker Support Team will be able to assist. Please email [email protected] or Oxcel Commissions [email protected].

Disclaimer: This information is current as at the time of each QRG publication. It is a general information guide only.