This statement is a reminder to reporting entities when preparing payment times reports for the reporting period which ended 30 June 2023.
Reports due by 30 September 2023
The reporting window is now open for reporting entities with a reporting period ending 30 June 2023. This report is due by 30 September 2023.
Updating group structures in the portal
Reporting entities can submit a request to link registered entities in the portal for group reporting. This should be requested as soon as possible through the new Contact form.
Only registered entities will be linked through this process.
Guidance for preparing reports is available
Reporting entities are reminded that detailed guidance is provided in Guidance Note 2: Appendix 1 to assist in preparing payment times reports. Entities are reminded to (a) ensure that the entity name in the report matches those details in the Australian Business Register and (b) check the total value of small business procurement has been accurately recorded.
Independent review of the Payment Times Reporting Act 2020
Section 57A of the Payment Times Reporting Act 2020 (the Act) required an independent review of the operation of the Act be completed by 30 June 2023.
On 31 August 2023, the Minister for Small Business, the Hon Julie Collins MP, released the written report of the independent review of the Payment Times Reporting Act 2020.
The Government will consider the recommendations of this review and publish a response in due course.
There are no changes to reporting obligations at this time. The regulator will continue to monitor and enforce compliance with the Act.
Should the Government decide to make any changes to the Payment Times Reporting Scheme, this will be publicly communicated, and any proposed changes are expected to be widely consulted upon before they can take effect. The regulator will advise reporting entities and stakeholders with sufficient time for implementation.