Who can report?

  • Large businesses also known as a “reporting entity” under the PTR is a constitutionally covered entity that carries on an enterprise in Australia 
  • Entity or group over the income threshold 
  • Other entities who wish to report can volunteer to become a reporting entity

To determine if you are a reporting entity visit the Australian Government PTR Regulatory.

When are payment times reports submitted?

For Australian businesses, the reporting period will be the business’ income year. The first PTRS window will be available for six months from the date it was announced, which means that anyone who made income between July and December 2020 is eligible. 

The due date for submitting your reports, in this case, would fall on March 23rd 2021–a little over three months away! The second reporting window would be the second 6 months of the income year. The Payment Times Reporting Due Dates are a great way for reporting entities to note and submit their payment in time to avoid financial penalties. 

Where can I get more information about the portal?

For more information on the payment times reporting portal, please visit the Australian Government’s Payment Times Reporting Regulator.

The payment times reporting scheme is valuable for small businesses. It allows them to track payment times and hold large businesses and government enterprises accountable for late payments. The payment times reporting portal is an online platform where businesses can log in and submit their payment reports. 

How can Eftsure help?

Eftsure is dedicated to helping organisations identify and protect themselves against fraud and errors that occur in the payment process. Our Know Your Payee solution provides real-time alerts and messaging so you don’t pay the wrong supplier. 

Eftsure can help businesses with payment times by streamlining the payment process and providing payment protection. This is completed through onboarding vendors by supplying identification documents. For more information, visit our Payment Times Reporting Guide or contact us today.

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