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Payment Times Reporting Scheme - Corporate/Commercial Law


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The Payment Times Reporting Scheme begins on 1 January 2021. While aimed at assisting small businesses when engaging with large business customers, the Scheme has significant implications on negotiated payment terms and compliance obligations for large business customers.
Following two inquiries by the Australian Small Business and Family Enterprises Ombudsman in 2017 and 2019 into the payment times and practices of large businesses, the Federal Government has introduced the Payment Times Reporting Scheme. The Scheme is comprised of two Bills, which received royal assent in September and October 2020, and will come into effect on 1 January 2021. A summary of the Bills is outlined below. ....

Family Enterprises Ombudsman , Payment Times Reporting Scheme , Australian Small Business , Federal Government , Payment Times Reporting , Explanatory Memorandum , குடும்பம் நிறுவனங்கள் ஆஂபட்‌ஸ்மந் , கட்டணம் முறை புகாரளித்தல் திட்டம் , ஆஸ்திரேலிய சிறிய வணிக , கூட்டாட்சியின் அரசு , கட்டணம் முறை புகாரளித்தல் ,