Select from the topics below for answers to some of our frequently asked questions about the Payment Times Reporting Scheme.
On this page
Who must report
Do I have to report?
You must report if your business is:
- constitutionally covered
- carries on an enterprise in Australia
- has a total income above a certain income threshold.
You must also report if your business has volunteered to report under the scheme.
You don’t have to report if your business is registered under the Australian Charities and Not-for-profits Commission Act 2012.
You’ll need to self-assess whether your business is required to report. Check our Who must report topic for detailed information about reporting obligations and the income thresholds.
If you’re still not sure, you may need to seek professional advice. We can’t give you legal advice.
What if I don’t have any invoices or small business suppliers?
If you’re required to report under the scheme you must report, even if you don’t have any:
- payments or invoices to report
- small business suppliers.
When you fill in the reporting template, report ‘0’ in the columns that require payment times data.
What happens if I don’t report?
Penalties may apply if you fail to report or don’t report on time. These can be applied for each day your business doesn’t comply.
If you need more time due to exceptional circumstances or circumstances outside of your control, you can apply for an extension during the 3-month reporting window.
Find out what the penalties are and when they apply.
When to report
When do I need to report?
This depends on your entity’s income (financial) year. There are 2 reporting periods per year covering the first and the second 6 months of your income year.
At the end of each reporting period, you have a 3-month reporting window to submit your report.
Read more about Reporting periods.
How do I apply for an extension?
You can apply for an extension if there are exceptional circumstances or circumstances outside of your control and you need more time to report. To apply:
- Log in to the reporting portal.
- Select Submit and View Applications on the home page.
- Select Extension of Time Application on the applications page.
Your application will need to set out the reasons for seeking an extension and attach evidence of circumstances that are exceptional or outside your entity’s control.
You must apply within 3 months of the end of the reporting period.
Read more about applying for an extension.
How long will my application take to get assessed?
We begin processing your application when we receive it through the portal.
The amount of time taken to assess applications varies.
It may take longer to process your application if we need to request additional information or evidence.
The amount of time the Regulator may grant for an extension depends on:
- the severity of the circumstances
- the strength of the evidence in your application.
The Regulator will email you the results of your application. If approved, the portal will update with your new due date.
Read more about applying for an extension.
How to report
How do I fill in the reporting template?
If you’re reporting for:
- one entity – only add data in row 3 of the template
- multiple entities in the same group – add data for each entity in a separate row from row 3 down.
You must report aggregate data for each reporting entity, not on individual small business invoices.
Use our template instructions for help completing each field in the reporting template. It has clear explanations and data requirements. You can download the PTRS Reporting – Template Instructions from the Payment Times Reporting Portal site.
What’s the difference between a head entity and a controlling corporation?
Head entity is not defined by the Payment Times Reporting Act 2020. It refers to either the:
- controlling corporation of a group, or
- another type of entity that has a similar role to a controlling corporation.
A controlling corporation is an Australian body corporate that is not a subsidiary of another body corporate incorporated in Australia.
Head entity is a term only used in the portal to describe the head of a corporate group that isn’t a controlling corporation.
You don’t need to fill in both controlling corporation and head entity details in the template. If you have a controlling corporation, enter details under the controlling corporation fields. If your head entity is not a controlling corporation, enter details under head entity and leave the controlling corporation fields blank.
Read more about group structures.
How do I complete the responsible member declaration form?
For help completing the responsible member declaration, download the PTRS Reporting – Template Instructions from the Payment Times Reporting Portal.
The declaration must be signed by a responsible member of your principal governing body who is authorised to sign the payment times report.
Check our information about who can sign on our What's in a report page.
You can submit the declaration as either a Word document or a PDF.
Can I use an electronic signature?
Yes you can. If you use electronic signatures, make sure they identify the person signing in a reliable way (see the Electronic Transactions Act 1999).
The signature may be an image of the person’s handwritten signature, a digital signature, or their typed name accompanied by the word ‘signed’.