Do sole traders need to lodge Payment Times Reports (large business)?

Depends on size or structure. Across every industry and every size band, the engine's answer for a sole trader is: depends on size or structure.

Do businesses with 1–5 employees need to lodge Payment Times Reports (large business)?

No (1–5 employees, turnover $100K–$1M).

When is "Lodge Payment Times Reports (large business)" due?

Two reports a year, each covering a 6-month period based on the entity's financial year, due within 3 months after the end of each period. A short extension of up to 28 days can be sought without supporting evidence.

Who must lodge Payment Times Reports (large business)?

The applicability test for Lodge Payment Times Reports (large business) (ASBFEO), computed across 35 industries, 9 business structures and 6 size bands.

Short answer: Some businesses

Applies when the business has consolidated revenue ≥ $100M.

What the obligation is

Large businesses (>$100M revenue) must report payment times to small business suppliers every 6 months.

The Payment Times Reporting Act 2020 (Cth), overhauled by the Payment Times Reporting Amendment Act 2024 from 7 September 2024 and supported by the Payment Times Reporting Rules 2024, requires large businesses to report how quickly they pay their small business suppliers. A reporting entity is a constitutionally covered entity with a connection to Australia and annual consolidated revenue of $100 million or more under accounting standards; a controlling entity gives one consolidated report covering the entities it controls. Reports are lodged through the Payment Times Reporting Portal and appear on the public Payment Times Reports Register, where businesses that pay small suppliers within 20 days can appear on a fast payers list and the slowest 20 per cent of payers can be required to make enhanced disclosures. The Regulator can publish details of non-compliance.

The applicability test

Applies when the business has consolidated revenue ≥ $100M.

How the regulator frames it: Constitutionally covered entities (incorporated, carrying on business, or with central management and control or voting power in Australia) with annual consolidated revenue of $100 million or more, including corporate Commonwealth entities. Entities registered with the ACNC and entities controlled by another reporting entity are excluded; others can volunteer to report.

What triggers it: Meeting the $100 million consolidated revenue threshold for the financial year.

Jurisdiction: Commonwealth law, so the test is the same in every state and territory.

Which industries are in or out

Outcome across the 35 industries Rules Mate maps (35 of 35: depends on size or structure).

The answer is the same in every industry: depends on size or structure. Industry does not change who must comply.

Business structure and size

Structure does not change the answer across all industries: for every structure the answer is "depends on size or structure".

Size band	Answer across all industries, any structure
No employees (turnover $100K–$1M)	No
1–5 employees (turnover $100K–$1M)	No
6–19 employees (turnover $1M–$3M)	No
20–99 employees (turnover $3M–$10M)	No
100–499 employees (turnover $10M–$100M)	No
500+ employees (turnover $100M–$1B)	Yes

Worked examples

Each line is one run of the Rules Mate applicability engine for a single business profile, with the reason the engine gives:

Pty Ltd company in real estate agents with 500+ employees, turnover $100M–$1B: applies. Consolidated revenue ≥ $100M.
Pty Ltd company in real estate agents with 6–19 employees, turnover $1M–$3M: does not apply. Requires consolidated revenue ≥ $100M.
Pty Ltd company in real estate agents with no employees, turnover $100K–$1M: does not apply. Requires consolidated revenue ≥ $100M.

What you must do, and when

When due: Two reports a year, each covering a 6-month period based on the entity's financial year, due within 3 months after the end of each period. A short extension of up to 28 days can be sought without supporting evidence.
Frequency: Ongoing
Evidence to keep: Payment times reports lodged in the Portal in the post-July 2024 format; payment data and the calculation methodology applied, including excluded and exempt payments; identification of small business suppliers (for example using the Small Business Identification tool); any nominee, subsidiary or exemption approvals.
Status: Current
Priority: High

Penalty for not complying

Maximum penalty: Failing to give a payment times report (s 15): up to 300 penalty units ($109,200) for a body corporate per contravention. A false or misleading report (s 16) or failing to comply with a slow small business payer direction (s 22G): up to 0.6% of the entity's total income for the income year. The Regulator can instead issue an infringement notice of up to 60 penalty units ($21,840), accept an enforceable undertaking, and publish the non-compliance.

Audit or assurance level

Rules Mate has not yet classified the audit or assurance level for this obligation. Any audit, review or certification requirement is set by the regulator source listed below.

What usually applies alongside it

Across the 1,890 business profiles Rules Mate evaluates, these obligations apply to most of the businesses this one applies to, and are far more common among them than among businesses generally:

Where it sits in the corpus

Rules Mate tracks 1 published obligation tagged "payment times", 0 of them rated critical. For a professional services Pty Ltd company with 6–19 employees operating in every state, 0 of those apply outright. This obligation is rated high priority, and is an ongoing duty.

Regulator, legislation and tools

Regulated by Australian Small Business and Family Enterprise Ombudsman.

ASBFEO: Assists with small business disputes (especially with large businesses and government), and advocates on small business regulation policy.

Australian Small Business and Family Enterprise Ombudsman

Free tools that help with this obligation:

Compliance calendar builder

Run the compliance journeyAnswer a short questionnaire about your business and get the obligations that apply to you, with the reason each one applies.

Questions

Who must lodge Payment Times Reports (large business)?: Applies when the business has consolidated revenue ≥ $100M.
Do sole traders need to lodge Payment Times Reports (large business)?: Depends on size or structure. Across every industry and every size band, the engine's answer for a sole trader is: depends on size or structure.
Do businesses with 1–5 employees need to lodge Payment Times Reports (large business)?: No (1–5 employees, turnover $100K–$1M).
When is "Lodge Payment Times Reports (large business)" due?: Two reports a year, each covering a 6-month period based on the entity's financial year, due within 3 months after the end of each period. A short extension of up to 28 days can be sought without supporting evidence.

Sources

ASBFEO: official source

Computed by the Rules Mate applicability engine from the published obligation corpus; facts last checked 3 October 2026. Rules Mate is not a law firm and this is general information, not legal advice. Confirm your position with the regulator source or a qualified adviser before acting.