The Treasury

Global Navigation

Personal tools

Government
Publication

Budget 2012 Home Page Budget Economic and Fiscal Update 2012

Notes to the Forecast Financial Statements

NOTE 1 (continued): Receipts 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 receipts (cash)

Individuals

Source deductions 20,699 21,066 21,011 22,450 23,938 25,498 27,102
Other persons 4,386 4,765 4,890 5,062 5,232 5,365 5,492
Refunds (2,463) (2,394) (2,558) (2,493) (2,325) (2,210) (2,102)
Fringe benefit tax 457 424 440 457 481 506 531
Total individuals 23,079 23,861 23,783 25,476 27,326 29,159 31,023

Corporate tax

Gross companies tax 7,588 8,369 8,285 8,737 9,438 9,994 10,394
Refunds (772) (799) (729) (756) (815) (918) (969)
Non-resident withholding tax 462 508 432 454 512 571 612
Foreign-source dividend w/holding payments (1) 1 5 -  -  -  - 
Total corporate tax 7,277 8,079 7,993 8,435 9,135 9,647 10,037

Other direct income tax

Resident w/holding tax on interest income 1,701 1,664 1,670 1,672 1,892 2,207 2,502
Resident w/holding tax on dividend income 196 208 288 375 575 605 630
Estate and gift duties 2 -  -  -  -  -  - 
Total other direct income tax 1,899 1,872 1,958 2,047 2,467 2,812 3,132
Total direct income tax 32,255 33,812 33,734 35,958 38,928 41,618 44,192

Goods and services tax

Gross goods and services tax 22,162 25,135 25,024 25,895 28,922 31,347 33,836
Refunds (9,177) (10,394) (10,912) (10,552) (11,950) (13,369) (14,877)
Total goods and services tax 12,985 14,741 14,112 15,343 16,972 17,978 18,959

Other indirect taxation

 
Road user charges 1,015 1,049 1,038 1,152 1,240 1,320 1,399
Petroleum fuels excise - domestic production 869 886 885 939 969 1,012 1,041
Alcohol excise - domestic production 625 665 665 698 734 769 803
Tobacco excise - domestic production 181 251 254 223 211 218 227
Customs duty 2,005 2,053 1,989 2,037 2,108 2,175 2,241
Gaming duties 216 223 229 231 233 237 242
Motor vehicle fees 171 168 174 170 171 173 176
Energy resources levies 36 38 33 36 36 36 36
Approved issuer levy and cheque duty 60 73 65 69 69 69 69
Total other indirect taxation 5,178 5,406 5,332 5,555 5,771 6,009 6,234
Total indirect taxation 18,163 20,147 19,444 20,898 22,743 23,987 25,193
Total taxation receipts 50,418 53,959 53,178 56,856 61,671 65,605 69,385

Other sovereign receipts (cash)

ACC levies 3,612 3,804 3,703 3,413 3,423 3,459 3,732
Fire Service levies 312 309 322 313 319 326 337
EQC levies 88 88 121 270 273 275 278
Other miscellaneous items 681 677 743 733 743 753 763
Total other sovereign receipts 4,693 4,878 4,889 4,729 4,758 4,813 5,110
Total sovereign receipts 55,111 58,837 58,067 61,585 66,429 70,418 74,495
Page top