NZ govt 4-month operating deficit smaller than predicted as company tax take swells

Mon, 07 Dec 2015

By Paul McBeth Dec. 8 (BusinessDesk) - The New Zealand government's operating deficit was smaller than predicted in the first four months of the 2016 financial year, as a number of one-off corporate tax payments swelled the Crown's coffers. The operating balance before gains and losses (obegal) was a deficit of $478 million in the four months ended Oct. 30, smaller than the $1.17 billion shortfall predicted in the May budget, and narrowing from a $1 billion deficit a year earlier, according to the government's financial statements. Th...

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