Oh, come on. You’re a businessman. You know that if provisional tax is down, the money received by the IRD will be lower because fewer businesses have reached the threshold to be eligible for paying terminal tax.How do you get that?
"Corporate tax and other individuals' tax revenue were both below forecast (by $0.3 billion and $0.2 billion, respectively) driven by weaker than expected provisional tax, partly offset by stronger-than-forecast terminal tax," Treasury said.
‘Net debt was lower than expected at $186.5b’
As the article says, a mixed bag.
Small straw poll of one business, I haven’t earned enough money this year to have to pay provisional tax.
Hey, if the Greens and TPM can base their wealth tax on such a small basis on the 300 richest families/individuals, I’ll say the provisional tax IRD will receive will be down based on a one business sample.