Changing the way we work with our brokers

The introduction of our new finance system is supporting our people to do their best work for our customers.
We are introducing longer payment terms for our broker deferred account holders and we are moving our deferred brokers account payment terms from fortnightly payment to monthly payments.

By moving our deferred broker payments to the 20th each month, we will give brokers up to 7 weeks to make the payment. This gives them more time to make any adjustments or cancellations to lodgements, if needed.

As part of our commitment to helping our customers get ready for these changes, we are working with our brokers to review their approved credit limit for their deferred account. This is so that they can be confident that their deferred account will be able to manage their business activity over the extended 7 weeks, and that there will be no disruption when the system automatically manages their accounts transactions against the approved credit limit.

What do brokers need to do to now to get ready?

• All brokers with deferred accounts need to ensure their approved Customs credit limit is sufficient to support their business activity over the extended 50 days.
  If not sufficient, brokers need to request a credit limit review immediately. From 27 October, the new finance system will automatically manage the deferred account transactions against the approved credit limit.
• Be prepared for the scheduled Trade Single Window (TSW) system outage from 1800 on Saturday 24 October to 0600 on Sunday 25 October (NZT).
• Watch out for more updates over the next two weeks.
  Where to go for more information and support
  For more information about what is changing for our customers, or to request a credit limit review, email revenue@customs.govt.nz