The Payment Times Reporting Scheme requires reporting entities, mostly large businesses and some government enterprises, to report on their payment terms and practices for their small business suppliers.
Under the Payment Times Reporting Scheme, large businesses and some government enterprises (known as reporting entities) must report every 6 months on their payment times and terms to small businesses.
These reports include information on standard payment terms, actual payment times, and the use of supply chain finance arrangements.
Payment times reports are then published to the public Payment Times Reports Register, which shows how each reporting entity is paying their small business suppliers.
Making payment information available to the public can help small businesses and encourage large businesses to improve their payment times. The scheme doesn't set any payment terms or mandate payment times for large businesses.
The scheme commenced on 1 January 2021. The scheme is administered by the Payment Times Reporting Regulator under the Payment Times Reporting Act 2020, Payment Times Reporting Rules 2020 and the Payment Times Reporting (Form and Manner for Giving Report) Instrument 2021.
This website provides information about the Payment Times Reporting Scheme including:
- Who must report
- How to report
- How the regulator monitors and enforces compliance
- How to use the Payment Times Reports Register
- How payment times reports can help small business
- Guidance to assist reporting entities meet their reporting obligations.