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NSW Finance and Small Business Minister Damien Tudehope. Source: AAP Image/Paul Braven.
Big businesses with government contracts in New South Wales will be required to pay their subcontractors within 20 days, under a policy to be included in next week’s state budget.
The 2021-22 NSW budget, to be handed down on Tuesday, June 22, will also include significant changes to the state government’s procurement policy, in a bid to help more small businesses win government tenders and contracts.
The subcontractor payments proposal extends a pilot program that began in January, which required a number of large businesses with government contracts to pay their own suppliers and subcontractors within a shorter period of time.
NSW Finance and Small Business Minister Damien Tudehope. Source: AAP Image/Paul Braven.
Companies in New South Wales that avoid paying payroll tax on unpaid wages could soon face significantly harsher penalties, as part of a NSW government plan to crack down on wage theft in the state.
A suite of new laws announced by Finance and Small Business Minister Damien Tudehope on Wednesday will also see Revenue NSW given the ability to name and shame companies that have underpaid payroll tax on wages, and to pass information on to the Fair Work Ombudsman to assist wage theft investigations.
The new legislation sets out a number of penalty increases.
NSW Finance and Small Business Minister Damien Tudehope. Source: AAP Image/Paul Braven.
The New South Wales government has accepted a number of recommendations that will see small and medium enterprises (SMEs) in the information and communications technology (ICT) sector receive a greater share of the state’s procurement expenditure.
The recommendations were made by the ICT and Digital Sovereign Procurement Taskforce, which was established last year with the aim of making it easier for local suppliers of digital and ICT services to engage with the state government.
From April 1, new spend targets will direct NSW government investment to SMEs, and measures will be implemented to enable ICT procurements to “build a resilient and secure” NSW ICT supply chain, the government announced on Monday.
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