Treasury consults on draft payment times reporting legislation in response to government review

The draft legislation represents another milestone in regulatory efforts to promote transparency and fairness in payment practices to Australian small business suppliers, as outlined by Alia Lum, Geoff Yiu, Jenny Wong and Natalie Brand.

Three years into the ground-breaking Payment Times Reporting scheme, the Government has this week (on 15 April 2024), released the draft amendments to the Payment Times Reporting Act Bill 2024 (Amendment Bill). This Bill proposes to amend the Payment Times Reporting Act 2020 to implement some recommendations from the recent two-year Statutory Review of the Payment Times Reporting Act 2020. The proposed amendments seek to improve the operation of the Payment Times Reporting Scheme (Scheme) t...

Sign in below or register now to read the full article

Authors: Alia Lum, Geoffrey Yiu,

Published Date: 18 April 2024