Late payments hit record low in 12 months to June

The average late payment time for an Australian business fell to a record 11.0 days during FY2018, according to illion’s latest analysis. The June quarter average represents a 24.9 per cent annual drop, down from 14.6 days in the prior corresponding period. The percentage of businesses paying their bills on time was 70 percent.

Key Insights:

  • Tasmania fastest region at 8.5 days
  • Retail worst sector at 14.5 days
  • Prompt payments hits 70%
  • Late payment times down 25% in FY18
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