NZ government operating surplus bigger than expected on company, investment taxes

Wed, 05 Jul 2017

By Paul McBeth July 6 (BusinessDesk) - The government's operating surplus beat the Treasury's forecast in the May budget again as the company and investment tax take beat expectations. The operating surplus before gains and losses (obegal) was $4.49 billion in the 11 months ended May 31, more than the $2.94 billion surplus predicted in the budget forecasts, and widening from $2.3 billion a year earlier. The Crown's tax take rose 7.8 percent to $69.53 billion, or $1.09 billion more than anticipated of which $250 million was put down to ea...

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