Employers will soon need to increase transparency and take action on pay rates as the federal parliament considers a new measure to help close the gender gap.
Minister for Women Katy Gallagher will introduce a law to the Senate requiring the publication of pay gaps in workplaces with 100 or more employees.
The minister said this would be a key reform towards driving transparency and action.
"On current projections it will take another 26 years to close the gender pay gap," she said.
Australian women are earning nearly $26,000 less than male colleagues.
Data released by the Workplace Gender Equality Agency in December showed the gap stuck at 22.8 per cent.
Seven in 10 employers have pay gaps favouring men while women continue to be under-represented in leadership.
Senator Gallagher said this hurt the economy, with $51.8 billion a year lost in women's pay.
"Women have waited long enough for the pay gap to close, let's not wait another quarter of a century," she said.
"The bill will also reduce red tape for businesses making it easier to report."
Reporting will start in 2024, drawing on data already provided by employers.
Gender pay gaps will be published on the Workplace Gender Equality Agency website.
