Reporting entities can apply for an extension of time, a cease to report determination, or apply to submit a revised payment times report. Entities who do not already report, can volunteer to report. Learn how to submit applications, understand what notifications to include and how to apply for an internal review of regulator decisions.
On this page:
- Apply for an extension
- Apply to cease reporting
- Submit a revised report
- Apply to volunteer to report
- Apply for reconsideration of a decision
- Request a redaction of commercial-in-confidence information
- Guidance for reporting entities
Apply for an extension
Reporting entities can apply for an extension of time to lodge a payment times report if there are exceptional circumstances or circumstances outside of their control and more time is needed to report.
An application will need to set out the reasons for seeking an extension and attach evidence of circumstances that are exceptional or outside an entity’s control.
The Regulator cannot grant an extension, where an extension of time is sought more than 3 months after the reporting period has ended.
The amount of time granted for an extension depends on:
- the severity of the circumstances
- the strength of the evidence in the application.
Applications can be made in the Payment Times Reporting Portal through the Submit and View Applications menu on the home page, then select Extension of Time Application.
Apply to cease reporting
A reporting entity can apply for a cease to report determination if one of the following applies:
- Total annual income has fallen below $100 million in each of the 2 most recent income years.
- As a controlling corporation, the group’s combined total annual income has fallen below $100 million in each of the 2 most recent income years.
- A volunteer reporting entity no longer wants to report.
If a member entity has a total annual income below $10 million in each of the two most recent income years, they should include this as a notification in the payment times report for the reporting period when the event occurred.
To apply for a cease to report determination, a reporting entity will need to provide a cover letter stating the reason and date they wish to cease reporting and provide supporting documentation, which may include:
- latest lodged tax returns
- advice from an independent and suitably qualified auditor about the entity’s total income
- evidence of a change in business structure if the entity has ceased to be a constitutionally covered entity.
A determination is given at a point in time, this means an entity is still required to determine if they are a reporting entity for each income year thereafter.
Applications can be made in the portal, through the Submit and View Applications menu on the home page, then select Cease to report.
Submit a revised report
Reporting entities can apply to submit a revised report, that corrects substantial errors or omissions in the most recently registered version of a report. This application should include the revised report, updated responsible member declaration, and a description of the changes to the revised report.
Applications can be made in the portal, through the View and Revise Payment Times Reports menu on the home page.
Apply to volunteer to report
Entities that aren't required to report, but are constitutionally covered entities, can volunteer to report under the Payment Times Reporting Scheme.
To volunteer, an entity needs to register their business details in the portal and create a profile. A volunteer entity needs a Digital Identity with at least a Standard identity strength and authorisation in RAM to act on behalf of the ABN.
Once registered with a profile, an entity should select Submit and View Applications menu on the home page, then select Application to Volunteer. Once an application has been submitted and processed the entity will be provided portal access to submit reports.
A volunteer reporting entity can participate at the start of its next income year. This is the income year after the one in which it applies to volunteer.
Volunteering entities continue to be reporting entities until they obtain a cease to report determination under subsection 7(3) of the Act.
Apply for reconsideration of a decision
Reporting entities can apply for an internal review (reconsideration) of certain decisions made by the Payment Times Reporting Regulator, these reviewable decisions are:
- a decision not to determine that an entity has ceased to be a reporting entity
- a decision not to allow further time to submit a payment times report
- a decision to publish the identity of an entity or details of non-compliance.
The application must be made within 14 days of being notified of the Regulator’s decision and set out the reasons for seeking reconsideration of the decision. Applications can be made in the portal, through the Submit and View Applications menu, then select Reviewable decision application.
Request a redaction of commercial-in-confidence information
Prior to submitting a report, a reporting entity can request redaction of information in a report on the grounds it is commercial-in-confidence, for more information read Guidance note 3: Applications and notifications.
Guidance for reporting entities
For guidance on the process and content for applications and notifications made to the Regulator and the principles the Regulator applies when assessing applications, read:
For information on regulator decisions, including information about a decision, reviewable decisions under the Act and decision queries and complaints read: