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Cash flow is important to the prosperity and health of any business, in particular small businesses. Unreasonable payment terms between businesses increases the cost of doing business and constrain a business’ ability to invest and grow.

Recent reports show that late payments from large to small and medium sized businesses are estimated to be around $115 billion each year, with $7 billion owed at any time.

Making $7 billion in capital available to small business would deliver a net economic benefit to Australia of $2.54 billion over ten years.

What is the Payment Times Reporting Framework?

To establish a better payment culture in Australia, the Australian Government announced the introduction of a new Payment Times Reporting Framework.

The framework will improve payment time transparency and will require Australia’s 2,500 largest businesses to publish how and when they pay their small business suppliers. Australian businesses with an annual turnover of $100 million or more, including foreign companies and government entities, will be covered by the scheme.

How can I have my say?

You can provide feedback on the final framework design by: