Crown finances for the first 10 months of the year are some $1.7 billion better than was forecast in last week's Budget due to higher than expected tax revenue
The April results are reported against forecasts based on the Budget Economic and Fiscal Update 2024 (BEFU 2024), published on 30 May 2024, and the results for the same period for the previous year.
A guest post/analysis from the Taxpayers' Union: Income Tax: The government intends to reduce income taxes by adjusting tax brackets upwards slightly. This is how the changes would look: These changes would see the average earner on $66,196 paying around $15.30 less tax each week. This is topped up by an additional $10 a week