Notice to Small Vendors
As of 14 July 2011 Small Businesses (where Small Business is defined as a supplier that has an annual turnover of less than $2 million per annum) will be paid within 30 days where conditions are met under the recently released NSW Government Policy on Payment of Accounts for any new invoice submitted for payment from that date.
Small Businesses can register their self assessment as conforming to that definition with the Ministry of Health. This registration relates only to Ministry related services at North Sydney and Gladesville Offices. For supplies to other parts of NSW Health vendors can register through Health Support Services (HSS) at http://www.hss.health.nsw.gov.au.
Registered conforming small businesses are entitled to have their invoices paid from the date of invoice receipt within 30 days. Where that does not occur, a penalty will be imposed on NSW Health organisations in the form of an interest payment where the amount calculated is greater than $20.00. This interest payment provision will come into effect after 1 January 2012.
Instructions for Small Business Suppliers
- How to Register as a Self Assessed Small Business
All applications involve completion of the attached Self Assessment form and submission by e-mail to email@example.com. A response will be received acknowledging your application. Applications will be processed within 5 working days. There is no requirement at this stage to provide any substantive information other than to indicate that your operation is a Small Business complying with the requirement of having an annual turnover of less than $2 million.
- Use of Purchase Orders
To receive the benefits of the NSW Government Payment of Accounts Policy, only invoices that produce a valid purchase order number will be eligible.
- Date of Effective Invoice Receipt
The billing address will be “NSW Ministry of Health, LMB 961, NORTH SYDNEY NSW 2059” and should be submitted to the Accounts Unit e-mail address below.
The effective date of receiving a correctly rendered invoice will be the date the Ministry’s Accounts Unit receives that invoice, not the date another party (where applicable) receives the invoice if for any reason the invoice should have been redirected by the supplier to travel with the goods or services supplied. Small vendors are encouraged to submit their invoice by e-mail to firstname.lastname@example.org to facilitate effective invoice receipt.
- Interest Payable
Interest on late payment of Small Business invoices will not commence until after 1 January 2012 and after that date will be payable on delayed payments where the interest calculated is greater than $20.00 where the above conditions are met.
Where a Small Business has a query in relation to this initiative contact may be made via e-mail to email@example.com or by telephone on (02) 9391 9131. The relevant NSW Government policy circular can be viewed at http://www.treasury.nsw.gov.au
If you wish to register your business please go to: Small Vendor’s Registration Form.