Tax revenue 0.5pc above forecast

Government tax revenue for the year ending June 30 totalled $46.2 billion, 0.5 per cent higher than the forecast updated in the May budget , Treasury said today.

Treasury said direct tax of $29.2 billion was up 0.4 per cent, while indirect tax of $17.0 billion was 0.5 per cent above the budget forecast.

The May budget forecast total revenue of $42.35 billion for the year to June 30, and $44.19 billion in the 2005 June year.

The 2003/04 tax revenue was 7.2 per cent above the amount collected in the previous year.

Audited tax data for the June year will be released with the July figures on August 26, Treasury said.

- NZPA