Jenny McAllister (NSW, Australian Labor Party, Assistant Minister for Climate Change and Energy) Share this | Hansard source

The government supports these amendments to introduce the concept of a fast small-business payer, which will recognise large businesses that pay their small suppliers within 20 days or less for 12 months. Our government wants to see small businesses getting paid as quickly as possible, and we recognise that there are merits to pointing to good examples of business payment practices. This aligns with the government's Supplier Pay On-Time or Pay Interest policy, which requires Commonwealth departments to pay invoices within 20 calendar days or to pay interest on the invoice amount. Of course, we encourage payment faster than 20 days, wherever possible.

I'm pleased that the opposition supports this bill to improve payment times for small businesses. The Albanese government is delivering a better deal for small businesses because we understand their importance to local communities and to the national economy.

Question agreed to.

Bill, as amended, agreed to.

Bill reported with amendments; report adopted.