Deb Frecklington
Member for Nanango Deb Frecklington said small businesses in the South Burnett contracted to do work by the State Government will have greater financial security, with a new “Late Payment Policy” ensuring the government pays its bills on time.
She said government suppliers would be paid within 30 days or gain interest on the amount they were owed.
“Through my role as the Assistant Minister for Regulatory Reform, I have been working hard to remove red tape and ease the burden on small businesses and I’m happy to be delivering that for the operators in the South Burnett,” Mrs Frecklington said.
“Now, if government departments don’t pay within the stipulated 30 days settlement period, they’ll face penalties.
“Cash flow is vital to the operations of small businesses in my Nanango Electorate and this new policy will go a long way to keeping our local economy moving, providing certainty and the right environment for job creation.”
The State Government would monitor interest penalty payments and publish them on its open data site on a quarterly basis.
Participation in the Late Payment Policy will be optional and applies to contracts up to $1 million, which have been submitted on correctly rendered undisputed tax invoices. The changes will take effect on July 1.
