✨ Financial Accounts Notes
NEW ZEALAND GAZETTE
No. 33
NOTES TO THE ACCOUNTS
1. Income Tax
Details of income tax are as follows:
| 1988 ($'000) | 1987 ($'000) | |
|---|---|---|
| Company | 1,017,432 | 810,959 |
| Fringe benefit tax | 383,505 | 153,824 |
| Individuals | 8,043,833 | 7,218,802 |
| Non-resident withholding tax | 139,270 | 112,738 |
| Miscellaneous | (1,052) | |
| $9,582,988 | $8,296,323 |
Income tax is net of refunds, and advance payments to the Accident Compensation Corporation in respect of self-employed levies.
Refunds to exporters in terms of the Income Tax Act 1976 were $74,058,529 for 1988-89 and $253,458,419 for 1987-88.
Advance payments to Accident Compensation Corporation were $122,478,624 for 1988-89 and $34,147,628 for 1987-88.
2. Other Direct Taxation
Details of other direct taxation are as follows:
| 1988 ($'000) | 1987 ($'000) | |
|---|---|---|
| Estate and gift duty | 47,930 | 37,662 |
| Land tax | 152,537 | 69,674 |
| $200,467 | $107,336 |
3. Other Indirect Taxation
Details of other indirect taxation are as follows:
| 1988 ($'000) | 1987 ($'000) | |
|---|---|---|
| Energy resources levy | 66,128 | 47,331 |
| Gaming duties | ||
| Lottery | 13,726 | 5,723 |
| Totalisator | 38,113 | 37,537 |
| 51,839 | 43,260 | |
| Instrument duty | ||
| Cheque duty | 14,311 | 13,698 |
| Stamp duty | 74,222 | 181,837 |
| 88,533 | 195,535 | |
| Motor vehicles, fees and charges | 78,899 | 84,070 |
| Miscellaneous | (685) | 295 |
| $284,714 | $370,491 |
Footnote:
1 Includes Winding-up Distribution Tax $1,885,256
2 Prior to 1 April 1988, Non-resident withholding tax included in Miscellaneous.
3 Residual net collections (refunds) from indirect taxes and duties which have been phased out in previous financial years.
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VUW Te Waharoa —
NZ Gazette 1989, No 33
NZLII —
NZ Gazette 1989, No 33
✨ LLM interpretation of page content
💰
Transactions in Connection with the Public Debt for the Nine Months Ended 31 December 1988
(continued from previous page)
💰 Finance & RevenuePublic Debt, Loans, Repayments, Realignments, Financial Summary
💰 Income Tax Details
💰 Finance & RevenueIncome Tax, Company Tax, Fringe Benefit Tax, Individuals Tax, Non-resident Withholding Tax, Tax Refunds, Accident Compensation Corporation
💰 Other Direct Taxation Details
💰 Finance & RevenueEstate Duty, Gift Duty, Land Tax
💰 Other Indirect Taxation Details
💰 Finance & RevenueEnergy Resources Levy, Gaming Duties, Lottery, Totalisator, Instrument Duty, Cheque Duty, Stamp Duty, Motor Vehicles Fees, Miscellaneous Taxes