The Commonwealth Treasury has begun consultations on options to accelerate the take-up of electronic invoicing by businesses and other commercial entities.
Having adopted the Peppol framework as the national standard for e-invoicing in 2018, the Federal Government recently mandated all its agencies to adopt e-invoicing by 1 July 2022.
The state and territory governments, and local councils, are being encouraged to follow suit.
Treasury says there are significant productivity and cost-efficiency benefits for businesses if e-invoicing is adopted more widely – and it has cited estimates by Deloitte Access Economics that each time an e-invoice replaces a paper invoice the businesses involved can save up to $20.
For practical steps on how councils can upgrade their invoicing processes in line with the Commonwealth efforts, watch the webinar produced by Local Government Professionals Australia and the Australian Taxation Office.
To learn how to connect to the network, contact an accredited e-invoicing service provider or the e-invoicing team at the PeppolPanel@ato.gov.au.