The Treasury

Global Navigation

Personal tools

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. The two sets of forecasts differ from each other because of the different modelling approaches used by the two agencies and the various assumptions and judgements made by the forecasting teams in producing their forecasts.

The Treasury's total tax forecasts are higher than Inland Revenue's in every year from 2010/11 through to 2014/15. By 2014/15, the difference between the forecasts has reached $1.5 billion, a much larger difference than has usually been the case in past forecast updates. The bulk of the difference occurs in estimates for corporate tax. The Treasury forecasts corporate tax growth to remain subdued through the early part of the recovery as tax loss usage increases and growth will accelerate through 2013 to 2015 as tax loss usage abates. Inland Revenue has not forecast such a rapid acceleration in corporate tax, as it has made no explicit assumption regarding the utilisation of tax losses.

Page top