07 July 2020
Payment times longer than 30 days should be banned, the ATA submission to the Senate Education and Employment Committee’s inquiry into the payment times reporting bills says.
The submission argues that creditors should have an immediate right to interest and recovery costs and that there should be penalties for serious non-compliance.
The submission proposes amendments to the bills that would provide industry-level insights into the experience of small business suppliers.
The ATA followed up on the submission by giving evidence to the committee at its hearing on 7 July 2020.