Western Australia
Fri 15 December 2017

Federal Govt commits to paying SMEs sooner

The Federal Government says it hopes its revised invoice payment policy will establish a new payment culture within Australia – a culture that recognises small business should not be used as a bank.

Federal agencies will now be required to pay invoices for contracts worth up to $1 million within 20 calendar days, an improvement from the current policy of 30 days.

The announcement is part of its response to the Australian Small Business and Family Enterprise Ombudsman’s report into payment times and practices.

Click here to read the full Federal Government announcement