Show download pdf controls
  • Payment Times Procurement Connected Policy guidelines

    The Payment Times Procurement Connected Policy (PT PCP) guidelines are available to help you understand your rights and responsibilities if your business is required to report under the Payment Times Reporting SchemeExternal Link and is awarded large Commonwealth Government procurement contracts.

    From 1 October 2021, the PT PCP will require large businesses (defined as the Reporting Entities in the Payment Times Reporting Act 2020External Link) that are awarded Commonwealth Government contracts valued over $4 million (GST inclusive) to pay their subcontracts valued up to $1 million (GST inclusive) within 20 calendar days, or pay interest.

    There is a transition period in place from 1 July 2021 to 30 September 2021 to allow government agencies and large businesses to adapt their payment systems and processes.

    The guidelines include further information on policy application and payment time requirements, following the policy’s implementation from 1 July 2021.

    See also:

    Last modified: 10 Sep 2021QC 66771