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Payment Times Reporting Scheme: guidance for reporting entities

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Publication Date: 
December 2020

This guidance is for reporting entities under the Payment Times Reporting Scheme. It provides practical guidance on how to comply with the scheme’s reporting requirements.

The guidance should be read with the Payment Times Reporting Act 2020 and the Payment Times Reporting Rules 2020.

The guidance will help reporting entities understand specific parts of the legislation and the reporting requirements. It also addresses the main issues and concepts that reporting entities will need to understand.

This information has been prepared to provide general guidance only.

The interpretation of the Act, the Minister’s Rules and the legal obligations for reporting entities to report their payment terms and practices is ultimately a matter for the courts.

Where appropriate, reporting entities should seek their own legal advice to ensure compliance with the requirements. 

The Payment Times Reporting Regulator will administer the Act in accordance with the information in this guidance. Please note our department will update the guidance material from time to time. We will make updates in response to stakeholder input and other circumstances. It is the reporting entities’ responsibility to ensure they’re referring to the latest version.

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