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The Australian Government commits to delivering e-invoicing

Wednesday 7th October, 2020

As part of the country’s Digital Business Plan, the Australian government has announced that all Commonwealth Government agencies are mandated to adopt electronic invoicing by 1st July 2022.

The digital business plan includes $3.6 million towards mandating the adoption of electronic invoicing to the deadline.

The Australian government will also consult on options for mandatory adoption of e-invoicing by businesses.

With over 1.2 billion invoices exchanged in Australia annually, savings to its economy are estimated to be $28 billion over 10 years, the Government said.

Many government agencies have already started using e-invoicing. In January, Australian Commonwealth Government agencies who were capable of receiving e-invoices began paying eligible e-invoices within five days to avoid paying interest on any late payments.

Prime Minister Scott Morrison said this year’s Budget would support businesses and create more jobs as part of the economic recovery plan.

“Many businesses moved online quickly when the pandemic hit, undergoing a decade of change in months, finding new customers or new ways of doing things,” the Prime Minister said.

“Our JobMaker Digital Business Plan provides significant backing to continue that digital push and expand opportunities for businesses to grow and create more jobs,” he said.

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