Australia: Payment times reporting legislation passes Parliament
The Payment Times Reporting Amendment Bill 2024 has passed both Houses of Parliament, with amendments.
Payment times reporting legislation passes Parliament
The Payment Times Reporting Amendment Bill 2024, which aims to implement the federal government's response to the Statutory Review of the Payment Times Reporting Act, has passed both Houses of Parliament, with amendments.
The legislation seeks to improve small business payment times, influence large businesses with poor small business payment practices, and encourage fair and improved payment terms, times, and practices for small businesses.
The legislation previously passed the House of Representatives (read TaxNewsFlash), and has now passed the Senate with amendments relating to a requirement to publish fast small business payers.
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