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Thousands of large Australian businesses have been invited to register early for the Morrison Government’s new Payment Times Reporting Scheme which requires large businesses with a total annual income of over $100 million to publicly report their payment terms and practices to their small business suppliers.
From 1 January 2021, large businesses must start reporting on how and when they pay their small business suppliers with the first payment times reports to be provided from 1 July 2021.
Around 4,200 of Australia’s largest businesses including foreign companies that operate a business in Australia are being invited to register their details.
The objective of the Scheme is to improve payment outcomes for Australia’s 3.5 million small businesses by creating transparency around the payment terms and practices of large businesses.
By providing access to information on large business payment performance, small businesses will be able to make more informed choices about their potential customers. Greater transparency will also incentivise large businesses to pay their small businesses on time.
Minister for Employment, Skills, Small and Family Business, Senator the Hon Michaelia Cash said that longer payment times hurt small business cash flow.
“The Government is acting decisively and responsibly to support small businesses to overcome the challenges posed by COVID-19. It is now even more important large businesses pay their small business suppliers the money that they are owed promptly” Minister Cash said.
“The Morrison Government has already got its house in order and is paying its bills faster. Commonwealth agencies are paying invoices for contracts under $1 million within 20 days and paying e-invoices within 5 days”
“Improving payment times for small businesses will help them to prosper, grow and employ more Australians”, Minister Cash said.
After an initial 12 month transition period, civil penalties will apply to reporting businesses that fail to report or give the Payment Times Reporting Regulator a false or misleading report.
For more information on the scheme, visit industry.gov.au/ptrs

In less than thirty days of mutual obligations being re-instated after they were suspended due to the covid pandemic 74,434 payments have been suspended by Centrelink.
Estimates has revealed that 12,137 First Nations peoples, 6,334 single parents, 13,169 disabled people 9,100 homeless people and 12,135 culturally and linguistically diverse people are among those that have had a payment suspended within the first month of mutual obligations returning.
“There are very clearly vulnerable people who are disproportionately impacted by the punitive mutual obligations system,” Senator Rachel Siewert said.
I’m at a loss to understand how suspending a homeless person’s payment in the midst of a recession will help them find work.
These are cohorts that the Government should be providing additional support for, not punishing them for being on income support.
Having a payment suspended is an incredibly stressful thing for someone to go through, particularly if you are living below the poverty line for a long period of time, not to mention in the midst of a pandemic and recession.
For those who say it may have only been for a couple of days, they miss the point. It is incredibly stressful to be trying to navigate this system to be dealing with Centrelink and in some cases intimidating Employment Providers.
In the best of times this system causes anxiety and poor mental health and this is only exacerbated in the midst of a recession when so many people are living with such uncertainty in their lives.
The Government itself has recognised the problems with the suspension process and in December introducing a 48 hour period to reconnect before suspension occurs, in the meantime all these people have been suspended.

The Senate today supported a Greens motion condemning the government for abandoning the key recommendation of the Banking Royal Commission.
“The Senate has today cast doubt on whether the government has the numbers to tear up responsible lending obligations, which was one of its major budget announcements,” Greens Economic Justice spokesperson Senator Nick McKim said.
“The motion before the Senate highlighted that the government’s proposed changes to consumer credit laws are inconsistent with the first recommendation of the Royal Commission.”
“The government accepted this recommendation when it was handed down last year. Now they are abandoning it.”
“I thank the Senate for joining the Greens in condemning the government.”
“The Greens urge fellow Senators to abide by the Royal Commission’s recommendation and reject the Government’s Bill that would make it easier for the banks to trap people into unsustainable levels of debt.”
Text of Senate motion:

1. Notes that, in respect of responsible lending to consumers, and the provisions of the National Consumer Credit Protection (NCCP) Act 2009 in particular, the final report of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry:
   a. noted that there was little or no debate about the terms of the NCCP Act;
   b. emphasised that the submission from Treasury stated that abidance by existing laws would likely enhance rather than detract from macroeconomic performance; and
   c. concluded simply that the law should be applied as it stands;
2. Notes that the Government, in February 2019:
   a. accepted Recommendation 1.1 of the Royal Commission that the NCCP Act not be amended to alter the obligation to assess unsuitability; and
   b. agreed to take action in relation to all 76 recommendations of the Royal Commission; and

1. Notes that the Government has reneged on its previous acceptance of Recommendation 1.1 of the Royal Commission; and
2. Condemns the Government for failing to honour its acceptance of Recommendation 1.1 of the Royal Commission.

The theme for this year’s NAIDOC Week is ‘Always Was. Always Will Be.’
This week, we acknowledge and celebrate the breadth and depth of First People’s knowledge, achievements, experiences and stories, and connection to country.
Australia is home to the oldest living civilisation on Earth – made up of hundreds of nations and cultures that spanned this continent.
This is rightfully a source of pride for all Australians – First Nations and non-Indigenous alike.
For tens of thousands of years, First Australians practised and accrued knowledge in a range of fields: from exploration and navigation; to farming and botany; science, engineering and astronomy; trade and diplomacy; to art and story-telling.
As the world contemplates the challenges of climate change – from severe bushfires; to catastrophic droughts; and rising sea levels – there is much to learn from First Australians, particularly in relation to land care and sustainability.
NAIDOC is about opening our minds, and to listen and learn.
We may not be celebrating NAIDOC Week the same way we usually do, but all of us can still get involved.
There are various ways we can all safely participate in activities in our local community.
For more information and to find out more about NAIDOC events happening near you, visit www.naidoc.org.au.

Renowned physicist Dr Cathy Foley AO has been appointed Australia’s next Chief Scientist.
Dr Foley, who has spent the last two years as the CSIRO’s Chief Scientist, will take over from Dr Alan Finkel AO whose tenure comes to an end in December 2020.
Prime Minister Scott Morrison said Dr Foley had the background needed to deliver during such a pivotal time in history.
“As we recover from COVID-19 and look to rebuild a brighter future, the role of the Chief Scientist has never been more important,” Prime Minister Morrison said.
“Dr Foley has a big task ahead to drive collaboration between industry and the science and research community, as we look to create jobs for the COVID-19 recovery and for the future.
“I would like to thank Dr Alan Finkel AO for his outstanding contribution as Chief Scientist over the past five years. He has been a valued and respected voice to Government, and I know he will continue to make a significant contribution to the Australian and international science communities.”
Minister for Industry, Science and Technology Karen Andrews also thanked Dr Finkel for his service and said Dr Foley would bring a unique mix of experience to the role.
“Dr Foley is highly regarded in the scientific community, has extensive experience working with government, but most importantly understands how to drive collaboration between industry and researchers,” Minister Andrews said.
“We know science will play a crucial role in helping to create jobs at this critical time, and Dr Foley’s skills as a talented science communicator will help sell that important message.
“Like me, Dr Foley is also a strong advocate for women in science, technology, engineering and mathematics and her lived experience will make her an important role model for aspiring young scientists.”
Dr Foley is the second woman to be named Australia’s Chief Scientist, after Professor Penny Sackett, who held the role from 2008-2011.
Dr Foley is a Fellow of both the Australian Academy of Science, and the Australian Academy of Technology and Engineering. She is an accomplished scientist who has made significant contributions in the area of physics relating to superconductors.
Her appointment as Australia’s Chief Scientist is for three years, starting in January 2021.