NZ reaps more tax in first 10 months of year on PIE growth, fewer GST refunds

Tue, 05 Jun 2012

By Paul McBeth June 06 (BusinessDesk) - The New Zealand government took in $772 million more tax than expected in the first 10 months of the fiscal year as Personal Investment Entities grew faster than anticipated and there were fewer refunds of goods and services tax. The Crown took in $45.09 billion in tax in the 10 months ended April 30, against a forecast of $44.32 billion based on the May 24 budget assumptions. Core spending was 0.6 percent below forecast at $56.13 billion. That led to a smaller operating deficit before gains and losses...

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