Payment Times Reporting Scheme updated guidance

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4 May 2021

The Payment Times Reporting Scheme guidance material has been updated and is now available. 

This guidance provides practical information for reporting entities on how to comply with the reporting requirements of the scheme.

We have provided updated guidance in response to requests for further details from businesses on key elements of the reporting requirements.  It includes more information on:

  • how reporting requirements may apply to different business structures including trusts, partnerships and joint ventures
  • defining and calculating total income, including how it relates to mergers and acquisitions
  • understanding an entity’s most recent income year
  • activities that count as ‘carrying on an enterprise’
  • calculating and reporting:
    • the value of total procurement
    • payments using rebates and credit notes
    • standard payment periods
  • how to obtain a myGovID
  • submitting your reports
  • updating the Small Business Identification tool

Businesses should ensure they are referring to the latest version of the guidance when preparing Payment Times Reports.   

Read the updated Payment Times Reporting Scheme guidance material.

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