Some CCEs won’t meet the requirements to become a reporting entity. If they wish to participate in the scheme, they can volunteer to become a reporting entity.
Volunteer reporting entities will:
- apply via email to Paymenttimesreporting@industry.gov.au
- continue to be reporting entities until they apply to cease to be a reporting entity
- have the same obligations as other reporting entities
A volunteer reporting entity becomes a reporting entity at the start of its next income year. That is the income year after the income year in which it applies to volunteer.