The Payment Times Reporting Scheme requires large businesses to report on their payment terms and practices to small business suppliers. The scheme applies to large businesses with an annual income of over $100 million. It will help create faster and fairer payment times for Australia’s 3.5 million small businesses.

The Australian Government appointed the Payment Times Reporting Regulator on 1 January 2021. During the first year of the scheme, the Regulator will focus on education and awareness activities. These activities will assist large businesses comply with their reporting obligations.

How to report

Reporting entities report twice a year on their payment terms and practices to small business suppliers. The first reporting window opens 1 July 2021.

An early release of the Payment Times Reporting Portal is currently available. The Small Business Identification tool (SBI tool) assists large businesses to identify their small business suppliers. The provisional version of the SBI tool is now available through the Payment Times Portal.

Payment Times Reporting Template is available in the Portal. The reporting template comes in 3 parts:

  1. The main data component of the report template will be a .csv file.
  2. A word file for the report signatures and associated declarations.
  3. Instructions document includes clear definitions and validation requirements.

Reporting entities will complete the template with their payment times information and submit through the Portal. Information that businesses provide in their reports will available to the public on the Payment Times Reports Register. The Register will be available after the end of the first reporting period, which is the third quarter of 2021.

Learn more about the Payment Times Reporting Scheme.