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Budget 2010 Home Page Budget Economic and Fiscal Update 2010

Table 10: Treasury and Inland Revenue forecasts of tax receipts (cash)

Table 10: Treasury and Inland Revenue forecasts of tax receipts (cash)
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 22,945 22,155 22,180 (25) 20,679 20,398 281 21,316 21,114 202 22,849 22,648 201 24,684 24,483 201
Other persons tax 4,988 4,745 4,790 (45) 4,875 4,830 45 5,488 5,310 178 5,670 5,470 200 5,899 5,590 309
Refunds (2,488) (2,739) (2,820) 81 (2,255) (2,560) 305 (2,482) (2,540) 58 (2,524) (2,520) (4) (2,599) (2,460) (139)
Fringe benefit tax 506 476 475 1 433 448 (15) 430 433 (3) 453 457 (4) 490 484 6
Subtotal: Individuals 25,951 24,637 24,625 12 23,732 23,116 616 24,752 24,317 435 26,448 26,055 393 28,474 28,097 377
Company tax (net) 5,909 7,107 6,956 151 8,350 8,703 (353) 8,964 9,248 (284) 9,396 9,332 64 9,798 9,609 189

Withholding taxes on:

                 
Resident interest income 2,593 1,778 1,734 44 1,463 1,533 (70) 1,926 1,855 71 2,308 2,091 217 2,581 2,291 290
Non-resident income 1,437 892 909 (17) 627 577 50 713 661 52 753 684 69 789 710 79
Foreign-source dividends (2) 8 8 ..  8 9 (1) 8 9 (1) 8 9 (1) 8 9 (1)
Resident dividend income 97 126 121 5 240 232 8 252 219 33 325 281 44 503 511 (8)
Subtotal: Withholding tax 4,125 2,804 2,772 32 2,338 2,351 (13) 2,899 2,744 155 3,394 3,065 329 3,881 3,521 360
Total income tax 35,985 34,548 34,353 195 34,420 34,170 250 36,615 36,309 306 39,238 38,452 786 42,153 41,227 926
Other: Estate and gift duties 2 2 2 ..  1 1 ..  1 1 ..  1 1 ..  1 1 .. 
Total direct tax 35,987 34,550 34,355 195 34,421 34,171 250 36,616 36,310 306 39,239 38,453 786 42,154 41,228 926

Indirect tax

                 
GST (net) 15,392 16,102 16,356 (254) 19,773 19,917 (144) 21,823 22,019 (196) 22,731 22,940 (209) 23,747 23,939 (192)

Excise duties on:

                 
Alcoholic drinks 587 636 632 4 657 665 (8) 702 692 10 726 719 7 750 745 5
Tobacco products 170 188 173 15 209 198 11 223 212 11 232 216 16 232 215 17
Petroleum fuels 786 849 820 29 907 886 21 972 965 7 990 1,003 (13) 1,020 1,042 (22)
Subtotal: Excise duties 1,543 1,673 1,625 48 1,773 1,749 24 1,897 1,869 28 1,948 1,938 10 2,002 2,002 .. 

Other indirect tax

                 
Customs duty 1,957 1,933 1,872 61 2,060 2,096 (36) 2,170 2,160 10 2,215 2,204 11 2,231 2,256 (25)
Road user charges 864 894 885 9 955 930 25 1,002 980 22 1,048 1,030 18 1,105 1,090 15
Gaming duties 276 267 272 (5) 273 275 (2) 279 277 2 282 281 1 286 285 1
Motor vehicle fees 165 170 168 2 175 175 ..  180 180 ..  186 185 1 192 190 2
Exhaustible resource levy 36 43 35 8 38 33 5 38 32 6 36 32 4 36 33 3
Approved issuer levy, cheque duty & other 95 90 83 7 96 86 10 96 85 11 96 85 11 96 85 11
Subtotal: Other indirect tax 3,393 3,397 3,315 82 3,597 3,595 2 3,765 3,714 51 3,863 3,817 46 3,946 3,939 7
Total indirect tax 20,328 21,172 21,296 (124) 25,143 25,261 (118) 27,485 27,602 (117) 28,542 28,695 (153) 29,695 29,880 (185)
Total tax 56,315 55,722 55,651 71 59,564 59,432 132 64,101 63,912 189 67,781 67,148 633 71,849 71,108 741
Total tax (% of GDP) 30.5% 29.4% 29.4% 0.0% 29.2% 29.2% 0.1% 29.7% 29.6% 0.1% 30.0% 29.7% 0.3% 30.2% 29.9% 0.3%

less Core Crown tax eliminations

                 
Core Crown income tax (152) 11 11 ..  223 223 ..  353 353 ..  381 381 ..  411 411 .. 
GST on Crown expenses and departmental outputs 4,567 4,751 4,751 ..  5,849 5,849 ..  6,262 6,262 ..  6,360 6,360 ..  6,502 6,502 .. 
Crown ESCT 367 319 319 ..  361 361 ..  367 367 ..  370 370 ..  370 370 .. 
Crown AIL 18 15 15 ..  15 15 ..  15 15 ..  15 15 ..  15 15 .. 
Core Crown taxation 51,515 50,626 50,555 71 53,116 52,984 132 57,104 56,915 189 60,655 60,022 633 64,551 63,810 741
Core Crown tax (% of GDP) 27.9% 26.7% 26.7% 0.0% 26.1% 26.0% 0.1% 26.5% 26.4% 0.1% 26.9% 26.6% 0.3% 27.2% 26.9% 0.3%

less Total Crown tax eliminations

                 
Income tax from SOEs and CEs 332 324 324 ..  390 390 ..  447 447 ..  529 529 ..  613 613 .. 
Other Crown GST 4 (9) (9) ..  (4) (4) ..  (3) (3) ..  4 4 ..  5 5 .. 
ESCT from SOEs and CEs 11 4 4 ..  4 4 ..  4 4 ..  4 4 ..  4 4 .. 
Lottery duty 49 40 40 ..  45 45 ..  49 49 ..  50 50 ..  51 51 .. 
Total Crown taxation 51,119 50,267 50,196 71 52,681 52,549 132 56,607 56,418 189 60,068 59,435 633 63,878 63,137 741
Total Crown tax (% of GDP) 27.7% 26.5% 26.5% 0.0% 25.8% 25.8% 0.1% 26.2% 26.2% 0.1% 26.6% 26.3% 0.3% 26.9% 26.6% 0.3%

Source: Inland Revenue, The Treasury

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