Large firms will be required to report payment times

The 3,000 largest businesses in Australia will be legally obliged to report on how quickly they are paying suppliers as part of new legislation introduced into Parliament.

The Payment Times Reporting Bill aims to prevent late payments impacting on Australia’s 3.4m small businesses by obliging businesses with a turnover of more than $100m to publish information on SME payment times and practices.

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Large firms will be required to report payment times

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