Late payment interest charges

This change encourages timely payment of levy invoices, supporting effective cashflow management, and making sure there is equity across all levy payers.

Payment of levies on time helps fund maritime safety and environmental protection services that benefit the sector. It also supports Maritime NZ's ability to meet its own payment obligations in line with government expectations.

The approach is targeted and proportionate and applies only to a small number of high-value debtor accounts with a pattern of late payment.

Why are we making this change?

Maritime NZ has seen an increase in overdue invoices, particularly for higher-value levy accounts.

Introducing late payment interest charges will:

• Encourage timely and consistent payment behaviour
• Support effective financial stewardship and cashflow management
• Make sure there is equity across levy payers
• Reduce the impact of significant overdue debt on the organisation.

Paying levies on time makes sure the costs associated with maritime services are shared fairly. Where significant debts remain unpaid over a long period, it can place a burden on the levy payers who consistently meet their payment obligations.

Who will this apply to?

Late payment interest will only apply where both of the following criteria are met:

• total outstanding debt exceeds $50,000
• there is a pattern of late payment.

A pattern of late payment means:

• outstanding debt exceeds $50,000 over three or more months within a 12-month period
• debt remains unpaid past the applicable 30-day payment period.

The change will apply to significant and persistent overdue debt rather than occasional or isolated late payments.

How will interest be applied?

Interest will:

• be charged at 2% per month on outstanding debt
• apply after the expiry of the applicable 30-day payment period
• continue to accrue until the outstanding debt is paid in full.

Interest may only apply where the eligibility criteria above are met.

Implementation and transition arrangements

The late payment interest change will take effect from 1 October 2026.

Maritime NZ has provided advance notice of this change to help levy payers review their payment processes before implementation.

For the purposes of determining a pattern of late payment, payment behaviour will only be assessed from 1 July 2026 onwards.

Payment behaviour before this date will not be used to see if a levy payer is subject to late payment interest charges.

Frequently asked questions

Will interest apply if I make an occasional late payment?

No. The change targets significant and persistent overdue debt and does not apply to routine or isolated late payments.

Why is Maritime NZ introducing this change?

The change supports on time payments, financial stewardship and equity across levy payers.

Will all levy payers be affected?

No. The change is expected to affect only a small number of levy payers who meet the defined criteria.

Who can I contact for more information?

If you would like more information or wish to discuss your circumstances, please contact [email protected].