CreditWorks recently met with Inland Revenue (IRD) to discuss the future of tax credit reporting in New Zealand, marking an important step toward a more open and effective reporting environment.
The discussion highlighted a shared commitment to improving how tax default information is managed and used.
IRD acknowledged that the current framework is narrow, administratively difficult and has not delivered the scale or effectiveness originally intended, and they are now developing a refreshed policy aimed for 1 April 2026.
The new direction is positive: broader participation, clearer rules, and more modern data sharing processes, moving away from a closed, constrained approach toward an open and scalable framework, sharing information with approved credit reporting agencies.
CreditWorks is actively working through the onboarding process to become one of those approved agencies. This involves close collaboration with IRD teams, preparing for updated data processes, and ensuring we are ready to support a more modern and transparent framework.
For New Zealand businesses, this shift represents meaningful progress. Improved access to accurate information supports stronger credit decisions, fairer outcomes, and a healthier financial ecosystem.
As a long‑standing New Zealand‑owned bureau, CreditWorks is committed to supporting this evolution and helping build a system that works better for everyone.
We will continue to share updates as the new framework takes shape.
CreditWorks Group provides extensive, real-time credit data and historical insights, helping businesses understand the deeper credit risks and payment behaviours of their customers. Our secure and comprehensive services ensure that companies can make informed decisions based on a complete picture. Discuss with us today how we can help you with comprehensive credit reporting and monitoring of your customers.
Please note that due to the vast amount of data required to produce these reports, most of which is accessed from a multitude of external sources, there is an inevitable time delay in their generation. However, we prefer to defer their publication in favour of ensuring greater accuracy.