The Australian Government has introduced the Payment Times Reporting Scheme (PTRS). The scheme aims to improve payment times for Australian small businesses.
The scheme commenced on 1 January 2021. Our department administers the scheme under the Payment Times Reporting Act 2020.
Under the scheme, large businesses and large government enterprises need to report their small business payment terms and times.
The scheme will:
- increase transparency around large business’ payment performance
- help small businesses decide who to do business with
- create incentives for improved payment times and practices
- help the public make decisions about the large businesses they buy from
On this page
The scheme applies to:
- large businesses and certain government enterprises with a total annual income of over $100 million
- controlling corporations where the combined total annual income for all members is more than $100 million
- businesses with a total annual income greater than $10 million and that are part of a group headed by a controlling corporation with a collective income greater than $100 million
If your business falls into one of these categories, you’re required to report the payment terms and practices for your small business suppliers. You will submit online ‘Payment times reports’ twice per year.
Businesses that are not covered by the scheme will be able to apply to volunteer report in April 2021.
Read about volunteer reporting entities.
Large businesses can use the Small Business Identification (SBI) tool to find their small business suppliers.
As a small business, you can opt out of being identified by the tool. If you opt out, large businesses will not report on their payment times and terms to your business.
The SBI tool is available in the payment times portal.
The SBI tool has been released early in response to requests from business.
Your feedback will help us improve the SBI tool to better meet your needs.
To provide feedback, please contact us at PaymentTimesReporting@industry.gov.au.
Read about the SBI tool.
In the portal, you can:
- register your business details
- manage your corporate structure
- use the Small Business Identification (SBI) tool
- register for updates on volunteer reporting
An early release of the portal is currently available. Access to the full portal, including report submissions, will be available from April 2021.
To access the Payment Times Portal you will need a myGovID and authorisation to act on behalf of your ABN for interactions with our department.
Read more about how to report.
Guidance has been developed for reporting entities. It provides practical guidance on how to comply with the reporting requirements of the scheme.
The guidance will be periodically updated, with updates likely to occur in response to queries from stakeholders during the first reporting period.
Small businesses can also provide feedback on their large business clients’ payment times and terms by contacting the Australian Small Business and Family Enterprise Ombudsman (ASBFEO). ASBFEO provides assistance for small businesses including advocacy and dispute resolution.
The Australian Government established the Payment Times Reporting Regulator on 1 January 2021.
The Regulator administers the scheme and raises awareness.
The Regulator will also maintain the Payment times reports register. This public register shows how reporting entities are paying their small business suppliers.
The scheme has a 12 month transition period before compliance and enforcement measures apply. The transition period ends in December 2021.
The Regulator will engage with large businesses and educate them about how to comply during its first year of operation. This supports voluntary compliance and transparent reporting.
- See how we consulted with small and large business, and industry, to design and develop the Scheme
- The Minister announced the Payment Times Reporting Scheme Rules and Guidance Material on 27 November
- The Minister announced the Payment Times Reporting Bill on 13 May 2020
- Email: PaymentTimesReporting@industry.gov.au
- Call business.gov.au 13 28 46 (select option 1 government grants, programs and services)
The Department of Industry, Science, Energy and Resources (the department) administers the Payment Times Reporting Scheme. The department designates a Regulator for the scheme who is supported by departmental staff. The department (including the Regulator) is bound by the Australian Privacy Principles outlined in Schedule 1 of the Privacy Act 1988 (Cth), which regulates how we may collect, use, disclose and store personal information.