In late 2018, the Australian Government asked that the ATO accelerate the implementation of e‑invoicing and have the standards, infrastructure and interim governance in place by March 2019.
The trans-Tasman approach is based on international standards which will allow business systems to ‘speak’ to each other, resulting in fewer errors.
E-invoicing relies on open standards and technology solutions to exchange invoices seamlessly, without manual input. It removes the need to create paper-based or PDF invoices, scan, post or email, or manually enter them.
E-invoices can be sent directly to a customer’s software system, even if the buyer and supplier are using different systems. It’s secure, safe and reliable.
E-Invoicing standards will ensure that all businesses in all sectors can access and benefit from e‑invoicing, regardless of their size and the systems they currently use.
Some of the benefits that business can expect from adopting e-invoicing include:
For more information, check out ato.gov.au/einvoicing