Government tax take $1.7 billion more than expected

Resident withholding tax contributed to a greater tax intake than forecast. (Image: NZME)

Wed, 05 Jun 2024

The government has taken in $1.7 billion more in taxes than forecast, according to the latest crown accounts. On Wednesday morning, Treasury released the government's interim financial statements for the 10 months ended April 30, 2024. It showed core crown tax revenue was $100.32b.This was more than the $98.67b forecast in the Budget Economic Fiscal Update published on May 30. In commentary provided alongside the data release, Treasury said the largest contributing factor came from corporate tax revenue, including "the strong...

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