May 26, 2021
All New South Wales government agencies will be required to adopt e-invoicing for goods and services worth up to $1 million, from January 1, 2022.
Minister for digital and customer service Victor Dominello on Tuesday said payment times, paperwork, manual errors and a ‘significant amount’ of money would be reduced as a result of the new rule.
“This is great news for SMEs, who are the backbone of the economy. There is an estimated shared saving of around $20 each time e-invoicing replaces a paper invoice and around $17 each time it replaces a PDF invoice,” he said.
“Based on the 4.2 million invoices across NSW government in 2019, a shared saving between the suppliers and NSW government is estimated to be $71 million. This means the government can spend more time helping customers and businesses can focus on their operations.”