It will work...
But it's not ideal. Your RAV has the power to pull it, but those kind of trailers weigh more than a purpose built utility trailer. If you still have the original Dana 60 axle and leaf springs, you are hauling around a bunch of spinning weight and and eight lug wheels you don't really need. Run that thing across a scale and you'll see what I mean. The axle is probably a little more centered than it should be, but since your tow rig is pretty light suspension wise that is probably not a bad thing. If you really want to run that trailer, I'd at least pull the diff cover and pull the differential carrier out, and if you had the equipment I'd pull the brake drums, backing plates, and cut the axle shafts off at the flanges. This would probably take about 100 lbs off the trailer, with about 60 lbs of spinning mass off the trailer, and that is the equivalent of taking 240 lbs static weight off the trailer.
Honestly, I'd buy or build a flatbed. I run an old boat trailer with a crappy wooden deck that works fine. It weighs about 450 lbs.
Wishing I was on the river instead of surfing the web...