From www.pwc.com.au: On December 16, 2024, the Payment Times Reporting (PTR) Regulator released new guidance material that outlines updated rules and criteria for entities participating in the Payment Times Reporting Scheme, focusing on enhancing reporting quality and compliance.

Key changes include criteria for identifying reporting entities, detailed instructions for data aggregation, and the introduction of volunteering, nominee, and subsidiary reporting entities.

The Regulator’s priorities for 2025 emphasize improving awareness, reporting accuracy, and encouraging better payment practices among large businesses.