NZ govt turns out unexpected operating surplus in five-months to November on rising tax take

Wed, 24 Jan 2018

By Paul McBeth Jan. 25 (BusinessDesk) - The New Zealand government posted an unexpected operating surplus in the first five months of the financial year as rising consumer spending bolstered GST and a robust labour market boosted income tax. The operating balance before gains and losses (obegal) was a surplus of $125 million in the five months ended Nov. 30, compared to a forecast deficit of $457 million and turning around a shortfall of $768 million a year earlier. That was largely due to a 5.5 percent increase in the tax take to $30.41...

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