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  • Trans-Tasman e-Invoicing initiative

    Earlier this year, the then Prime Ministers of Australia and New Zealand agreed to take action around common approaches to e-Invoicing, as a means to progress the Single Economic Market agenda.

    The ATO established the Trans-Tasman e-Invoicing working group to standardise e-Invoicing processes in Australia and New Zealand, taking advantage of opportunities arising from the digital transformation of our economy.

    The working group includes members from the:

    • Department of Industry, Innovation and Science
    • Department of Jobs and Small Business
    • Digital Transformation Agency
    • Treasury.
    • representatives from the governments of
      • New Zealand
      • New South Wales
      • South Australia.

    At the end of May 2018, the Australian Government issued a media release confirming their commitment to e-Invoicing.

    Minister O'Dwyer said 'e-Invoicing is approximately 70% cheaper to process than traditional paper or PDF invoices, according to estimates by Deloitte Access Economics - and it means businesses will be able to spend less time re-entering invoice data for all levels of government and spend more time on growing their business'.

    The processing costs of an invoice in Australia. It costs $30.87 to process a paper invoice, it costs $27.67 to process a paper invoice and it costs $9.18 to process a e-Invoice.  Shared trasaction savings to sender and receiver. There is a $21.69 saving using a e-Invoice compared with a paper invoice.There is a $18.49 saving using a e-Invoice compared with a paper invoice.  The benefits to the Australian economy. $28 billion saved over ten years as there are over 1.2billion invoices exchanged annually in Asutralia

    e-Invoicing in Australia and New Zealand will be based on international standards and the Australian interoperability framework developed by the Digital Business Council of Australia in collaboration the ATO and industry partners.

    The aim of the framework is to support and simplify the digital exchange of information between businesses and easily incorporate into existing software products.

    See also:

      Last modified: 19 Oct 2018QC 56900