NZ govt operating surplus beats expectations as tax take swells 6.1%

Tue, 09 Oct 2018

By Paul McBeth Oct. 9 (BusinessDesk) - The New Zealand government's operating surplus beat expectations as the Crown's tax take was bolstered rising company profits, a bigger working population and increased investment gains. The operating balance before gains and losses (obegal) widened to $5.53 billion in the 12 months ended June from $4.07 billion a year earlier, beating Treasury's forecast in May for a surplus of $3.14 billion. The government's tax take rose 6.1 percent to $80.22 billion, outpacing the projected $79.54 billion, while...

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