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Budget 2011 Home Page Budget Economic and Fiscal Update 2011

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

Table 10 - Treasuryand Inland Revenue forecasts of tax receipts (cash)
  2009/10
Actual 		 2010/11
Forecast 		2011/12
Forecast 		2012/13
Forecast 		2013/14
Forecast 		2014/15
Forecast
$ million   Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference

Direct tax

                 

Individuals

                 
Source deductions 22,097 21,066 20,988 78 21,536 21,313 223 23,510 23,216 294 25,104 24,926 178 26,721 26,609 112
Other persons tax 4,630 4,320 4,260 60 4,765 4,620 145 5,057 4,830 227 5,090 5,130 (40) 5,200 5,330 (130)
Refunds (2,793) (2,445) (2,480) 35 (2,394) (2,470) 76 (2,390) (2,350) (40) (2,254) (2,210) (44) (2,172) (2,150) (22)
Fringe benefit tax 469 456 463 (7) 424 454 (30) 450 473 (23) 473 490 (17) 500 506 (6)
Subtotal: Individuals 24,403 23,397 23,231 166 24,331 23,917 414 26,627 26,169 458 28,413 28,336 77 30,249 30,295 (46)
Company tax (net) 7,471 7,779 7,890 (111) 8,631 8,340 291 8,703 8,330 373 9,449 8,695 754 9,917 8,890 1,027

Withholding taxes on:

                 
Resident interest income 1,833 1,714 1,694 20 1,664 1,653 11 1,985 1,909 76 2,526 2,273 253 3,083 2,702 381
Non-resident income 889 494 445 49 508 495 13 573 560 13 643 630 13 688 660 28
Foreign-source dividends 6 1 1 ..  1 1 ..  1 1 ..  1 1 ..  1 1 .. 
Resident dividend income 114 202 200 2 208 210 (2) 291 285 6 469 460 9 488 465 23
Subtotal: Withholding tax 2,842 2,411 2,340 71 2,381 2,359 22 2,850 2,755 95 3,639 3,364 275 4,260 3,828 432
Total income tax 34,716 33,587 33,461 126 35,343 34,616 727 38,180 37,254 926 41,501 40,395 1,106 44,426 43,013 1,413
Other: Estate and gift duties 2 2 2 ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  .. 
Total direct tax 34,718 33,589 33,463 126 35,343 34,616 727 38,180 37,254 926 41,501 40,395 1,106 44,426 43,013 1,413

Indirect tax

                 
GST (net) 16,150 18,668 18,621 47 20,987 21,266 (279) 22,243 22,153 90 23,392 23,350 42 24,494 24,420 74

Excise duties on:

                 
Alcoholic drinks 622 625 639 (14) 665 659 6 700 695 5 732 732 ..  765 771 (6)
Tobacco products 214 238 225 13 251 241 10 259 251 8 257 254 3 259 259 .. 
Petroleum fuels 805 862 829 33 886 896 (10) 903 904 (1) 940 943 (3) 975 971 4
Subtotal: Excise duties 1,641 1,725 1,693 32 1,802 1,796 6 1,862 1,850 12 1,929 1,929 ..  1,999 2,001 (2)

Other indirect tax

                 
Customs duty 1,805 1,991 1,978 13 2,053 2,060 (7) 2,089 2,089 ..  2,107 2,089 18 2,136 2,089 47
Road user charges 908 995 1,010 (15) 1,049 1,050 (1) 1,134 1,125 9 1,214 1,190 24 1,289 1,255 34
Gaming duties 264 265 261 4 268 262 6 272 267 5 276 271 5 279 275 4
Motor vehicle fees 195 169 150 19 168 175 (7) 171 185 (14) 174 190 (16) 177 195 (18)
Exhaustible resource levy 37 36 37 (1) 38 36 2 36 35 1 36 37 (1) 36 40 (4)
Approved issuer levy, cheque duty & other 82 90 98 (8) 88 88 ..  88 83 5 88 83 5 88 83 5
Subtotal: Other indirect tax 3,291 3,546 3,534 12 3,664 3,671 (7) 3,790 3,784 6 3,895 3,860 35 4,005 3,937 68
Total indirect tax 21,082 23,939 23,848 91 26,453 26,733 (280) 27,895 27,787 108 29,216 29,139 77 30,498 30,358 140
Total tax 55,800 57,528 57,311 217 61,796 61,349 447 66,075 65,041 1,034 70,717 69,534 1,183 74,924 73,371 1,553
Total tax (% of GDP) 29.5% 28.8% 28.7% 0.1% 29.5% 29.3% 0.2% 29.6% 29.2% 0.5% 30.2% 29.7% 0.5% 30.4% 29.8% 0.6%

less Core Crown tax eliminations

                 
Core Crown income tax 111 444 444   580 580 419 419   456 456 496 496  
GST on Crown expenses and departmental outputs 4,809 5,951 5,951   6,232 6,232 6,116 6,116   6,161 6,161 6,365 6,365  
Crown ESCT 341 486 486   465 465 473 473   478 478 482 482  
Crown AIL 23 15 15   15 15 15 15   15 15 15 15  
Core Crown taxation 50,516 50,632 50,415 217 54,504 54,057 447 59,052 58,018 1,034 63,607 62,424 1,183 67,566 66,013 1,553
Core Crown tax (% of GDP) 26.7% 25.3% 25.2% 0.1% 26.1% 25.8% 0.2% 26.5% 26.0% 0.5% 27.2% 26.7% 0.5% 27.5% 26.8% 0.6%

less Total Crown tax eliminations

                 
Income tax from SOEs and CEs 354 434 434   481 481 539 539   569 569 616 616  
Other Crown GST ..  54 54   14 14 16 16   (30) (30) 6 6  
ESCT from SOEs and CEs 12 5 5   5 5 6 6   5 5 5 5  
Lottery duty 46 45 45   45 45 49 49   50 50 51 51  
Total Crown taxation 50,104 50,094 49,877 217 53,959 53,512 447 58,442 57,408 1,034 63,013 61,830 1,183 66,888 65,335 1,553
Total Crown tax (% of GDP) 26.5% 25.1% 25.0% 0.1% 25.8% 25.6% 0.2% 26.2% 25.8% 0.5% 26.9% 26.4% 0.5% 27.2% 26.5% 0.6%
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