Tag: Government Contracts

Mr Billson has launched an Inquiry to examine the impact of reforms to Commonwealth procurement rules on small business.

The new CPRs will increase the government’s commitment by mandating SMEs to procure 20 per cent of overall procurements.

Government is lagging behind on paying invoices to small business according to the most recent survey of 40 government agencies.

In a bid to improve cashflow, the Federal Government will now pay interest due to SMBs as a result of outstanding payments, as part of its efforts to encourage government agencies to pay invoices on time.

The Government’s temporary Investment Allowance, announced in December, is a positive move for the asset finance industry and the broader economy. The ten percent investment allowance, in the form of an additional tax deduction, effectively provides the owner of new assets purchased with an upfront additional tax deduction of ten percent of the asset cost […]