The government has raised the prospect of the nation's accounts being in black this year after posting an unexpected operating surplus.
Its operating balance before gains and losses beat forecasts to post a $448 million surplus for the 10-month period to April 30.
Treasury estimates had forecast a deficit of $NZ555 million ($A514.72 million).
Core tax revenue was $NZ437 million stronger than forecast at $NZ55 billion while expenses were $NZ420 million lower than expected.
At last month's budget Finance Minister Bill English said the government would miss its target of a surplus this financial year.
It forecast a $NZ684 million deficit this year before posting a $NZ176 million surplus in 2015/16.
But now he says a surplus could come sooner than expected.
"We've always said small differences between large revenue and expenditure numbers can lead to swings of several hundred million dollars in the OBEGAL balance," he said.
"We won't know whether we will make surplus for the full year until we see the final accounts in October. But it's clear it will be a close run thing."
The government also achieved a surplus in the seven months to January of $NZ77 million.
"The Treasury advises that, based on the April results, there is now some upside risk in both tax revenue and Crown expenses," said Mr English
"However, it's not yet clear how much of this latest overall improvement will carry through to the full year's result."
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