Faster Payment Terms for Small Business Suppliers

How it works

From December 2018 the payment terms on a correctly rendered invoice for small businesses registered with the NSW Small Business Commissioner are to be paid:

  • immediately by pcard for all invoices under $ 10,000
  • within 20 calendar days for all goods and services transactions between $ 10,000  and $ 1 Million (and within 5 business days from January 2020)

More information

This policy is outlined in Faster Payment Terms.

NSW Government has a dedicated on-line small business resource and support centre on the NSW Small Business Commissioner website where there is more information on the faster payment terms initiative.

 

Government reporting on this policy

In accordance with NSW Treasury Circular 11/21 NSW government agencies report on their payment performance in their annual reports. Payment performance for small business suppliers will appear in annual reports.

Registering as a Small Business Supplier

If you supply goods and services to participating government agencies, you can register as a small business as long as you meet the eligibility criteria. Register your business for faster payment terms by completing the NSW Small Business Commissioner registration form.