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Tax Tables

In line with established practice, Inland Revenue has also prepared a set of tax forecasts, which, like the Treasury's tax forecasts, is based on the Treasury's macroeconomic forecasts.

Table 9: Treasury and Inland Revenue forecasts of tax revenue (accrual)
  2008/09
Actual 		2009/10
Forecast 		2010/11
Forecast 		2011/12
Forecast 		2012/13
Forecast 		2013/14
Forecast
$ million   Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference

Direct tax

                 

Individuals

                 
Source deductions 22,966 22,248 22,271 (23) 20,580 20,676 (96) 21,424 21,207 217 22,959 22,743 216 24,792 24,576 216
Other persons tax 4,408 4,261 4,149 112 4,403 4,293 110 4,865 4,741 124 5,019 4,904 115 5,156 4,975 181
Refunds (1,636) (1,979) (1,970) (9) (1,484) (1,710) 226 (1,609) (1,690) 81 (1,609) (1,660) 51 (1,620) (1,580) (40)
Fringe benefit tax 500 459 476 (17) 430 455 (25) 439 441 (2) 466 465 1 499 492 7
Subtotal: Individuals 26,238 24,989 24,926 63 23,929 23,714 215 25,119 24,699 420 26,835 26,452 383 28,827 28,463 364
Company tax (net) 8,294 6,447 6,871 (424) 8,550 9,038 (488) 9,156 9,509 (353) 9,569 9,609 (40) 10,011 9,900 111

Withholding taxes on:

                 
Resident interest income 2,571 1,812 1,754 58 1,465 1,533 (68) 1,928 1,855 73 2,310 2,091 219 2,583 2,291 292
Non-resident income 1,451 1,009 1,025 (16) 628 577 51 714 661 53 754 684 70 790 710 80
Foreign-source dividends 10 (1) 8 (9) 8 9 (1) 8 9 (1) 8 9 (1) 8 9 (1)
Resident dividend income 65 142 121 21 240 232 8 252 219 33 325 281 44 503 511 (8)
Subtotal: Withholding tax 4,097 2,962 2,908 54 2,341 2,351 (10) 2,902 2,744 158 3,397 3,065 332 3,884 3,521 363
Total income tax 38,629 34,398 34,705 (307) 34,820 35,103 (283) 37,177 36,952 225 39,801 39,126 675 42,722 41,884 838
Other: Estate and gift duties 1 2 2 ..  1 1 ..  1 1 ..  1 1 ..  1 1 .. 
Total direct tax 38,630 34,400 34,707 (307) 34,821 35,104 (283) 37,178 36,953 225 39,802 39,127 675 42,723 41,885 838

Indirect tax

                 
GST (net) 16,108 16,417 16,659 (242) 20,278 20,382 (104) 22,142 22,323 (181) 23,060 23,254 (194) 24,069 24,246 (177)

Excise duties on:

                 
Alcoholic drinks 616 636 622 14 657 665 (8) 702 692 10 726 719 7 750 745 5
Tobacco products 172 188 173 15 209 198 11 223 212 11 232 216 16 232 215 17
Petroleum fuels 781 849 820 29 907 886 21 972 965 7 990 1,003 (13) 1,020 1,042 (22)
Subtotal: excise duties 1,569 1,673 1,615 58 1,773 1,749 24 1,897 1,869 28 1,948 1,938 10 2,002 2,002 .. 

Other indirect tax

                 
Customs duty 1,880 1,933 1,872 61 2,060 2,096 (36) 2,170 2,120 50 2,215 2,204 11 2,231 2,256 (25)
Road user charges 868 894 885 9 955 930 25 1,002 980 22 1,048 1,030 18 1,105 1,090 15
Gaming duties 264 269 272 (3) 273 275 (2) 279 277 2 282 281 1 286 285 1
Motor vehicle fees 171 170 168 2 175 175 ..  180 180 ..  186 185 1 192 190 2
Exhaustible resource levy 39 37 35 2 38 33 5 38 32 6 36 32 4 36 33 3
Approved issuer levy, cheque duty & other 98 83 83 ..  96 86 10 96 85 11 96 85 11 96 85 11
Subtotal: Other indirect tax 3,320 3,386 3,315 71 3,597 3,595 2 3,765 3,674 91 3,863 3,817 46 3,946 3,939 7
Total indirect tax 20,997 21,476 21,589 (113) 25,648 25,726 (78) 27,804 27,866 (62) 28,871 29,009 (138) 30,017 30,187 (170)
Total tax 59,627 55,876 56,296 (420) 60,469 60,830 (361) 64,982 64,819 163 68,673 68,136 537 72,740 72,072 668
Total tax (% of GDP) 32.3% 29.5% 29.7% -0.2% 29.7% 29.8% -0.2% 30.1% 30.0% 0.1% 30.4% 30.2% 0.2% 30.6% 30.3% 0.3%

less Core Crown tax eliminations

                 
Core Crown income tax 3 142 142 ..  310 310 ..  337 337 ..  367 367 ..  399 399 .. 
GST on Crown expenses and departmental outputs 4,557 4,711 4,711 ..  5,834 5,834 ..  6,249 6,249 ..  6,366 6,366 ..  6,509 6,509 .. 
Crown ESCT 368 356 356 ..  398 398 ..  404 404 ..  407 407 ..  407 407 .. 
Crown AIL 18 15 15 ..  15 15 ..  15 15 ..  15 15 ..  15 15 .. 
Core Crown taxation 54,681 50,652 51,072 (420) 53,912 54,273 (361) 57,977 57,814 163 61,518 60,981 537 65,410 64,742 668
Core Crown tax (% of GDP) 29.6% 26.7% 26.9% -0.2% 26.4% 26.6% -0.2% 26.9% 26.8% 0.1% 27.2% 27.0% 0.2% 27.5% 27.2% 0.3%

less Total Crown tax eliminations

                 
Income tax from SOEs and CEs 476 370 370 ..  402 402 ..  479 479 ..  548 548 ..  652 652 .. 
Other Crown GST ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  .. 
ESCT from SOEs and CEs 11 8 8 ..  8 8 ..  8 8 ..  9 9 ..  9 9 .. 
Lottery duty 49 40 40 ..  45 45 ..  49 49 ..  50 50 ..  51 51 .. 
Total Crown taxation 54,145 50,234 50,654 (420) 53,457 53,818 (361) 57,441 57,278 163 60,911 60,374 537 64,698 64,030 668
Total Crown tax (% of GDP) 29.4% 26.5% 26.7% -0.2% 26.2% 26.4% -0.2% 26.6% 26.6% 0.1% 27.0% 26.7% 0.2% 27.2% 26.9% 0.3%
Nominal GDP 184,455 189,526 189,526   203,876 203,876 215,722 215,722   225,820 225,820 237,609 237,609  

Source: Inland Revenue, The Treasury

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