Northern Territory Govt To Pay Businesses In 14 Business Days Instead Of 21

Northern Territory Govt To Pay Businesses In 14 Business Days Instead Of 21

Northern Territory Chief Minister Michael Gunner

Northern Territory Govt Slashes Payment Terms Of Its Invoices Under $1 Million

Victor P Taffa

Northern Territory Government is continuing to support small businesses, and from today slashing the payment terms of its invoices under $1 million.

This means businesses will now be paid in 14 business days not 21.

“Creating local jobs is the number one priority of this Government.” Chief Minister Michael Gunner said.

“Our economy is driven by local business, and we are doing everything we can to continue investing in jobs for Territorians by supporting local business.”

Changes will also make it easier for businesses to submit invoices to Government via an online portal, cutting red tape and streamlining the process of receiving payment.

Government systems and processes have been updated ready for this change, making it easier, quicker, and more efficient to receive payment. Regular monitoring and reporting have been put in place to ensure the new timelines are met.

Northern Territory Government currently processes around 500,000 invoices per year worth $1 Million or less.

Today also sees the commencement of the Investment Territory office that will lead a whole-of-government charge in attracting and securing private investment in the Territory.

Investment Territory will pursue investment and make sure investors are supported from their first interest in the Northern Territory through to an investment outcome, helping reduce red tape and remove other roadblocks to investment.

Increasing private sector investment creates strong economic growth and more local jobs.