SALES TAX
£3,050,985 FOR YEAR The national accounts will benefit to the extent of £3,050,985 from sales tax collected during the financial year ended March 31. Since the tax was imposed in February. 1933, collections have mounted steadily, and the total for March established a record. The sales tax has becctne of increasing importance in the Treasury returns, and now ranks with Customs revenue and income tax as an important source of general revenue. Yields for the past four financial years, and the Increase per cent in each year, are as follows: Increase
The increased yield from the tax indicates a marked improvement in internal business conditions In New Zealand. Furthermore, the Increased return has been attained in spite of a larger list of exempted commodities. Collections during March totalled £296,637. compared with £194,624 in February and £206,101 In March, 1936. The previous record yield was in January, when £294,431 was collected. This figure was a reflection of the Christmas shopping, so that the Increase during March is particularly significant.
Per cent. 1933-34 . ... £1 847,273 — 1934-35 . ... 2,171,235 17.5 1935-36 . ... 2,467,660 13.7 1936-37 . ... 3,050,985 23.6
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/THD19370519.2.125
Bibliographic details
Timaru Herald, Volume CXLIII, Issue 20731, 19 May 1937, Page 14
Word Count
184SALES TAX Timaru Herald, Volume CXLIII, Issue 20731, 19 May 1937, Page 14
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