This new bill became law on 1st January 2021 and requires large organisations (over $100m income), including public sector bodies, to pay their small suppliers (under $10m revenues) within 30 days – with no excuses.
Fines for non-compliance can reach 0.6% of turnover – say, $180m for a major bank for instance.
Worse for most, especially public sector bodies, is that the Federal Government plan to “name and shame” non-conforming organisations very quickly on a new public website 31st March.
Ensure you are complying and find out other valuable information during this special PASA webinar session from KPMG.
Your guest expert presenter:
Vince Dimasi is a partner at KPMG and leads the national KPMG Working Capital Advisory & Payment Times Reporting team.
The time of this session is:
11.00-12:30PM AEDT (SYD, MELB, BNE)
|Start||August 5th, 2021. 11:00am AEST|
|End||August 5th, 2021. 12:30pm AEST|
|Status||Event Details Closed|
|Category||One off sessions|