NZ income tax take growth outperforms OECD average
Monday 25 October 2004
The New Zealand government's personal and corporate income tax take, as a percentage of gross domestic product, grew faster in the 2001 to 2002 year than in any other OECD country a report shows.
By The Landlord
The Paris-based, thirty member Organisation for Economic Co-operation yesterday published its annual Revenue Statistics and also a comparative overview of tax policies.The Revenue Statistics showed New Zealand's overall tax take in the 2002 year at 34.9% of GDP was below the OECD average of 36.3%. Provisional figures which did not include an average figure across the organisation showed NZ's total tax take eased slightly in 2003 to 34.8% of GDP.
But the report showed that while the OECD average ratio of revenue from personal and corporate tax for 2002 was 12.9% - down from 13.3% the previous year - New Zealand was up to 20.6% from 19.5%.
Read More - Opens in a new window
Commenting is closed
Property News
Consents fall could have been worse
New dwellings consents dropped in April. That didn’t surprise anyone but economists were surprised that the drop wasn’t bigger.
House Prices
House price drops are short-lived - Alexander
Periods of house price decline are rare and "short-lived", says economist Tony Alexander, amid forecasts of a drop of 10%-15% this year.
Commercial
Resilience needed in face of change
The Reserve Bank says the commercial property sector is vulnerable to the Covid-19 crisis. But PMG Funds' chief executive believes that while there’ll be short-term pain, the biggest long-term impact will be structural change.
Mortgages
Mortgage lending slumps to record low in April
Mortgage lending fell to its lowest level on record last month as the property market ground to a halt during the Covid-19 lockdown.
