Key Documents
On 6 December 2022, the Australian Government announced an independent review of the Payment Times Reporting Act 2020 (the Act) would be conducted by the Hon Dr Craig Emerson.
The Terms of reference required the review to consider the operation of the Act against its legislated objects, whether related government policies have improved payment terms and practices of large businesses in relation to their small business suppliers, and whether other measures would be more effective in improving payment terms and practices.
The review also considered the efficacy of international approaches to improving payment times for small businesses and made recommendations on arrangements that ensure small businesses are paid on time.
The consultation paper sought stakeholder views on these issues. Submissions in response to the consultation paper assisted Dr Emerson to prepare a final report, which was provided to the Australian Government in June 2023.