This report assesses the performance of the Australian Government against the Supplier Pay On‑Time or Pay Interest Policy for the 2020‑21 financial year.
The policy requires government agencies (defined as non‑corporate Commonwealth entities) to pay invoices relating to contracts of up to $1 million within 20 calendar days or 5 days if it is an e‑Invoice. Late payments incur interest.
The 2020‑2021 survey is the first time the Pay On‑Time Survey Performance Report has provided details on the number and value of e‑Invoices in scope of the Pay On‑Time Policy.
Overall, payment performance has improved compared to 2019‑20.
In 2020‑21, 93.2% of invoices for contracts of up to $1 million were paid within 20 days, compared to 90.6% in 2019‑20.
Additional information on the Supplier Pay On-Time or Pay Interest Policy is available on the Department of Finance’s Pay On‑Time or Pay Interest Policy page.