NZ corporate tax-take to beat expectations this year, ACC actuarial losses double

Thu, 05 Jul 2012

By Paul McBeth July 6 (BusinessDesk) - New Zealand's corporate tax-take is set to beat expectations this year as the government reaps more from Portfolio Investment Entities than anticipated, though it faces mounting insurance liabilities from its Accident Compensation Corporation scheme. The Crown took in $50.54 billion in tax in the 11 months ended May 31, beating the Treasury's forecast $49.87 billion and helped lead to a smaller operating deficit before gains and losses of $5.91 billion than the $7.04 billion forecast. Core spending was...

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