Tax take rises 22 per cent
PA Wellington New Zealanders paid 22 per cent more tax in the last financial year than the year before. The total tax collected by the Inland Revenue Department increased from 52954 M to $3605M, the Commissioner of Inland Revenue (Mr T. M. Hunt) said in his annual report tabled in Parliament by the Associate Minister of Finance (Mr Templeton). Of the tax take, 53482 M came from income tax, S4SM from estate duty and S33M from racing duty. The number of income tax returns rose by 10 per cent to 1,995,000, while the number of tax refunds increased 11 per cent over the previous year to 1,290,000, said Mr Hunt. It cost S24M to collect the tax, compared with S22M the year before.
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Press, 4 July 1978, Page 3
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129Tax take rises 22 per cent Press, 4 July 1978, Page 3
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