Sorry FP, I should have qualified that. An example might be dairy farmers, and of course their income is all over the place depending on the payout. Their income is high at the moment, so if the drought has not had too much effect, the govt should see more tax income. But strong new car and tractor sales around the place, are an indicator of a mopping up effect in the provinces.
Dairy farmers in NZ have an average of 44% debt to asset ratio, $30billion of borrowing at about 6% average, so that implies capital values of $68bill in total. If they were to achieve value for those deployed assets (10% return), $6.8bill in net profit each year, the tax on that at 28% would be $1,900 mill.
In 2011 the sum of NZ's dairy farmers paid an aggregate of just $26mill in income tax.
http://www.stuff.co.nz/the-press/new...-paying-no-tax