This document was authored by the then Department of Jobs and Small Business as part of the Small Business portfolio policy functions which have since been transferred to the Treasury.
The Australian Government plans to introduce a new Payment Times Reporting Scheme for large businesses and large government enterprises with a total annual income of over $100 million to publicly report information on their small business payment terms and times. The scheme will:
- increase transparency of the payment performance of large businesses so small businesses can make more informed decisions about their potential customers
- drive cultural change to improve payment times
The former Department of Employment, Skills, Small and Family Business undertook the first stage of consultation on the initial design of the scheme through a discussion paper.
Specifically, the consultation focused on six design issues central to the scheme’s development:
- What is the preferred scope of reporting?
- Who should report under the scheme?
- What payment information should be reported?
- How should information be reported?
- Who should the framework be administered by?
The consultation process also included face-to-face consultation workshops in Perth, Sydney and Melbourne, an online consultation workshop and one-on-one meetings.