Late Payment of Government Debts (Interest) Act 2013

In this Act, unless the contrary intention appears—

contract for the supply of goods or services means a contract—

for the sale or transfer of goods; or

for the hire of goods; or

for the provision of services;

designated contract means a contract for the supply of goods or services but does not include—

a written contract where the contract—

makes specific provision for payment terms that are greater than the prescribed number of days; or

makes specific provision for the payment of interest if a payment is not made in accordance with the terms of the contract; or

a construction contract under the Building and Construction Industry Security of Payment

Act 2009; or

a contract where the consideration for the sale, transfer or hire of goods, or the provision of services, is not, or does not include, a monetary consideration; or

a contract of a class excluded from the ambit of this definition by the regulations;

designated payment period means the period of days that applies under section 5(1)(e);

GST means the tax payable under the GST law;

GST law means—

A New Tax System (Goods and

Services Tax) Act 1999 of the Commonwealth;

and

the related legislation of the Commonwealth dealing with the imposition of a tax on the supply of goods and services;

not-for-profit entity means—

an entity that is registered, or entitled to be registered, under the Australian Charities and

Not-for-profits Commission Act 2012 of the Commonwealth;

or

any other entity (other than a government entity) that is not carried on for the purposes of profit or gain or for the benefit of particular people;

public authority means a public authority under the Public Finance and Audit

Act 1987 brought within the ambit of this definition by notice published by the Treasurer in the Gazette;

purchaser means the buyer in a contract for the sale of goods or the person who contracts with the supplier in any other contract for the supply of goods or services (subject to the operation of section 4);

qualifying body means—

a corporation incorporated under the

Corporations Act 2001 of the Commonwealth; or

a not-for-profit entity;

qualifying contract means a designated contract where—

the purchaser is a public authority; and

the supplier is a qualifying person or a qualifying body;

qualifying day means the day immediately following the end of a designated payment period that applies in relation to a particular qualifying contract under section 5;

qualifying debt means a debt created by virtue of a qualifying contract;

qualifying person means a natural person whose principal place of residence is situated in Australia;

supplier means the seller in a contract for the sale of goods or the person agreeing with the purchaser to transfer property in goods or to provide a service under any other contract for the supply of goods or services (subject to the operation of section 4);

Treasurer's instruction means an instruction issued by the Treasurer under section 41 of the

Public Finance and Audit

Act 1987.

This Act applies in relation to an invoice sent or a claim made to a public authority or other entity on or after the day on which this Act comes into operation (subject to the invoice or claim being rendered in accordance with a relevant Treasurer's instruction).