• How do the payments work?
Unitholders are paid an amount of one dollar per quarter for each unit held. Quarterly payments are made to Unitholders by the tenth business day in January, April, July and October. The final quarterly payment will be paid in April 2008.
• How does a Unitholder request changes to address and/or bank account details on the Register of Units?
By completing a Change of Address Details form and a Change To Banking Details form which can be downloaded for use click here. To assist processing a request a Unitholder must ensure that the forms are fully completed and state for example, the Unitholder's URN (located on the initial Notice of Allocation of Units and the annual statements issued in July) or DAA ID (located on correspondence from the DAA). These forms can be either mailed to DAA, C/- Computershare Investor Services Pty Limited, GPO Box 2975, Melbourne, Vic., 3001 or faxed to (03) 9473 2500. If the change relates to DSAP units and SDA units the DAA requires a separate form to be completed in relation to each type of unit and each unit holding.
• How does a Unitholder request a change of name on the Register of Units?
By submitting a statutory declaration in regard to the change of name together with documentary proof of the change for example, a marriage certificate.
• Can a Unitholder sell or transfer units?
Yes, a Unitholder can sell or transfer units, however, a transfer may only be registered if:
a. the transferee is either a primary producer;
b. acquires ownership of the unit as the beneficiary of a deceased estate;
c. is already the registered owner of one or more units (unless it is a financial institution); or
d. the transferee gives the DAA a written undertaking to transfer the unit to a primary producer within 60 days after the transfer is registered.
Requirements regarding transfer of units are set out in the Business Rules for Register of Units (DSAP and SDA). Transfer forms are contained in Appendix 1 of the Business Rules (DSAP and SDA) and can be downloaded for use click here.
• What happens if a Unitholder dies?
Ownership of the deceased's units must be transferred to the deceased's legal personal representative or a beneficiary. Further information is contained in the Guide to Managing Units of a Deceased Unitholder click here. Transfer forms are contained in Appendix 1 of the Business Rules (DSAP and SDA) and can be downloaded for use click here.
• Are payments affected if a Unitholder is declared bankrupt?
A bankrupt's units must be transferred to the trustee of the bankrupt's estate and the DAA can amend the ownership details on the Register of Units accordingly. To do so, however, the DAA would require proof of the appointment of the trustee. The trustee would also have to provide address and bank account details.
• Are payments affected if a Unitholder's personal or business circumstances change?
Changes in personal or business circumstances (for example, cessation of business, dissolution of partnership, dissolution of marriage) will not affect a Unitholder's payments unless the Unitholder has agreed to transfer units. However, the Unitholder may need to request a change to name, address and/or bank account details on the Register of Units click here.
• What if a Unitholder wants to check whether a payment has been made or how much is still to be paid to 2008?
Computershare Investor Services maintains the Register of Units on behalf of the DAA and issues annual statements to Unitholders each July. If a Unitholder fails to receive his or her annual statement of payments or has a query regarding a particular payment the Unitholder should contact Computershare Investor Services click here.
• What if a Unitholder wants to take a lump sum instead of receiving quarterly payments until 2008?
The DAA does not have the power to make lump sum payments but there are several lending institutions that are willing to make 'up-front' loans available to Unitholders. Any loan arrangement entered into is a private arrangement between the Unitholder and the lending institution and does not concern the DAA. However, the DAA will record details of a charge over units when it receives notification as provided for in the Business Rules (DSAP and SDA). Notification forms are provided in Appendix 1 of the Business Rules (DSAP and SDA) and can be downloaded for use click here.
• How are payments treated for taxation purposes?
As a general rule payments are taxable in the financial year in which they are received. If a Unitholder has any queries regarding the taxation treatment of his or her payments the Unitholder is strongly advised to obtain advice from their Accountant or Financial Adviser who can provide advice having regard to their individual circumstances.
• Who is eligible for a dairy type grant?
The Farm Help Re-establishment Grant Scheme (the FHRG Scheme) provides for Unitholders to access industry exit assistance click here. The same level of benefits is available to Unitholders as under the Dairy Exit Program. Unitholders may be eligible for tax-free payments of up to $50,000 and access to a Farm Help Advice and Training Scheme grant of $5,500 under the FHRG Scheme. DSAP and SDA Unit holders who are eligible for an exit grant will have this grant reduced by the amount of DSAP and SDA payments already received, as well as having all future payments cancelled. A Unitholder can find out more by contacting their nearest Centrelink customer service centre or by phoning 1800 050 585.
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