Late payment times for an Australian business have fallen to their lowest level on record during the first quarter of 2018. The average payment time for the March quarter was 11.7 days, representing a 23.5 percent annual drop during the same period last year.
Late payment times for New Zealand businesses have increased sharply, according to illion’s latest analysis. The 22 per cent year-on-year spike leaves late payments at their highest level since the September quarter of 2015, but still well below the 2011 peak.
Late payment times for Australian businesses dropped to their lowest level on record in the final quarter of 2017. The average late payment time for an Australian business was 11.9 days during the December quarter, down 17.5 percent year-on-year.
The average late payment times for New Zealand business rose 9.7 percent during 2017. Despite the annual increase, the late payment time for an overdue invoice was 5.8 days in Q4 2017, representing a marginal decline compared to the September quarter.