New guidance available for consultation – October 2024

Date
28 October 2024

Exposure draft guidance materials for the overhauled Payment Times Reporting Scheme are now available for public consultation.

New guidance

Exposure draft guidance will replace existing Payment Times Reporting Regulator Guidance to align with the recent reforms to the Payment Times Reporting Scheme.

The exposure draft guidance will assist reporting entities to meet their new obligations and understand the Regulator’s expectations:

Payment Times Reporting: Exposure Draft Guidance

The exposure draft guidance will apply for reporting periods beginning 1 July 2024 onwards. Entities will still need to rely on current guidance for reporting periods beginning prior to 1 July 2024.

Consultation details

Consultation on the exposure draft guidance will close at 5pm AEDT on Friday, 22 November 2024. We encourage you to engage in the consultation process and provide feedback and submissions.

Submissions may be lodged electronically or by post, but electronic lodgement is preferred. For accessibility reasons, please submit responses in a Word or RTF format via email. An additional PDF version may also be submitted.

We plan to publish a final version of guidance in the Regulatory resources section of the our website shortly after the close of the consultation period.

We encourage entities to monitor the Regulator’s news page for updates on changes to guidance.

Consultation sessions

The Regulator is hosting 3 virtual consultation sessions that will provide an opportunity to discuss and provide feedback on the exposure draft guidance material. Scheduled dates are:

  • Friday, 8 November 2024, 2.00 pm – 3.00 pm
  • Wednesday, 13 November 2024, 10.00am – 11.00am
  • Thursday, 14 November 2024, 2.00pm – 3.00pm

If you would like to participant in one of these sessions, please email your contact details and preferred session date to PaymentTimesReformSMB@treasury.gov.au and an electronic invitation will follow.