NZ Super Fund, govt cash cow, paid 60 times more tax than Fonterra last year

Tue, 17 Oct 2017

By Rebecca Howard Oct. 17 (BusinessDesk) - The New Zealand Superannuation Fund is one of the country's biggest taxpayers, representing nearly a tenth of the total corporate tax paid in the 2017 financial year. Set up in 2001 to help meet the country's future pension needs, "the fund has become a significant presence in the New Zealand capital markets and economy. In fact, the fund’s $1.2 billion tax bill for 2016/17 represented 9 percent of the total New Zealand corporate tax take," it said in its 2017 annual report. Pre-tax profit in th...

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