Bigger tax take from GST, tobacco excise bolsters govt coffers in 6-month surplus

Wed, 06 Feb 2019

By Paul McBeth Feb. 7 (BusinessDesk) - The Crown reaped a bigger tax take than expected from GST and tobacco excise in the six months through December, while KiwiBuild and welfare payments were smaller than projected. The operating balance before gains and losses (obegal) was a surplus of $1.11 billion in the six months ended Dec. 31, compared to $1.1 billion a year earlier, and tracking ahead of the $859 million forecast in the December half-year economic and fiscal update. Core tax revenue rose 7.6 percent to $40 billion, some $164 mil...

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