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Notes to the Forecast Financial Statements

NOTE 1: Revenue collected through the Crown's sovereign power
	2011 Actual $m	2012 Previous Budget $m	2012 Forecast $m	2013 Forecast $m	2014 Forecast $m	2015 Forecast $m	2016 Forecast $m
Taxation revenue (accrual)
Individuals
Source deductions	20,857	21,165	21,169	22,563	24,057	25,622	27,231
Other persons	3,791	4,342	4,242	4,386	4,609	4,802	4,992
Refunds	(1,679)	(1,656)	(1,657)	(1,567)	(1,466)	(1,394)	(1,326)
Fringe benefit tax	462	430	444	458	482	507	532
Total individuals	23,431	24,281	24,198	25,840	27,682	29,537	31,429
Corporate tax
Gross companies tax	6,687	7,978	8,019	8,301	8,961	9,469	9,975
Refunds	(197)	(400)	(274)	(279)	(305)	(342)	(349)
Non-resident withholding tax	467	508	451	455	513	572	613
Foreign-source dividend w/holding payments	-	1	5	-	-	-	-
Total corporate tax	6,957	8,087	8,201	8,477	9,169	9,699	10,239
Other direct income tax
Resident w/holding tax on interest income	1,704	1,665	1,671	1,673	1,893	2,208	2,503
Resident w/holding tax on dividend income	195	209	288	375	575	605	630
Estate and gift duties	2	-	-	-	-	-	-
Total other direct income tax	1,901	1,874	1,959	2,048	2,468	2,813	3,133
Total direct income tax	32,289	34,242	34,358	36,365	39,319	42,049	44,801
Goods and services tax
Gross goods and services tax	23,484	26,007	25,853	26,795	29,730	32,152	34,639
Refunds	(9,776)	(10,965)	(11,212)	(11,052)	(12,450)	(13,869)	(15,377)
Total goods and services tax	13,708	15,042	14,641	15,743	17,280	18,283	19,262
Other indirect taxation
Road user charges	1,016	1,049	1,038	1,152	1,240	1,320	1,399
Petroleum fuels excise - domestic production	872	886	885	939	969	1,012	1,041
Alcohol excise - domestic production	623	665	665	698	734	769	803
Tobacco excise - domestic production	220	251	254	223	211	218	227
Petroleum fuels excise - imports¹	575	668	602	626	646	675	694
Alcohol excise - imports¹	229	250	240	249	260	272	284
Tobacco excise - imports¹	924	1,005	957	983	1,030	1,066	1,108
Other customs duty	188	130	190	179	172	162	155
Gaming duties	214	223	229	231	233	237	242
Motor vehicle fees	172	168	174	170	171	173	176
Energy resources levies	36	38	33	36	36	36	36
Approved issuer levy and cheque duty	62	73	65	69	69	69	69
Total other indirect taxation	5,131	5,406	5,332	5,555	5,771	6,009	6,234
Total indirect taxation	18,839	20,448	19,973	21,298	23,051	24,292	25,496
Total taxation revenue	51,128	54,690	54,331	57,663	62,370	66,341	70,297
Other sovereign revenue (accrual)
ACC levies	3,586	3,882	3,670	3,395	3,484	3,573	3,663
Fire Service levies	312	309	322	313	319	326	337
EQC levies	88	89	98	240	272	275	277
Other miscellaneous items	1,295	1,528	1,022	1,498	1,604	1,698	1,944
Total other sovereign revenue	5,281	5,808	5,112	5,446	5,679	5,872	6,221
Total sovereign revenue	56,409	60,498	59,443	63,109	68,049	72,213	76,518

1: Customs excise-equivalent duty.

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Notes to the Forecast Financial Statements

Taxation revenue (accrual)

Individuals

Corporate tax

Other direct income tax

Goods and services tax

Other indirect taxation

Other sovereign revenue (accrual)