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Budget 2013 Home Page Budget Economic and Fiscal Update 2013

Table 9 - Treasury and IRD forecasts of tax receipts (cash)

Table 9 - Treasury and IRD forecasts of tax receipts (cash)
$million 2011/12
Actual		 2012/13
Forecast		 2013/14
Forecast		 2014/15
Forecast		 2015/16
Forecast		 2016/17
Forecast
Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference
Direct tax                  
Individuals                  
Source deductions 21,347 22,665 22,670 (5) 24,011 24,001 10 25,195 25,184 11 26,421 26,389 32 27,843 27,803 40
Other persons tax 4,720 5,278 5,207 71 5,549 5,402 147 5,910 5,639 271 6,105 5,779 326 6,197 5,915 282
Refunds (2,468) (2,252) (2,156) (96) (2,222) (2,181) (41) (2,193) (2,126) (67) (2,268) (2,131) (137) (2,223) (2,146) (77)
Fringe benefit tax 458 458 463 (5) 476 480 (4) 498 494 4 517 508 9 539 524 15
Subtotal: Individuals 24,057 26,149 26,184 (35) 27,814 27,702 112 29,410 29,191 219 30,775 30,545 230 32,356 32,096 260
Company tax (net) 8,582 8,991 9,128 (137) 9,998 10,151 (153) 10,449 10,283 166 10,942 10,737 205 11,194 10,963 231
Withholding taxes on:                  
Resident interest income 1,699 1,601 1,635 (34) 1,670 1,600 70 1,868 1,830 38 2,328 2,370 (42) 2,684 2,950 (266)
Non-resident income 434 448 437 11 446 463 (17) 496 511 (15) 557 568 (11) 605 611 (6)
Foreign-source dividends 4 ..  1 (1) ..  1 (1) ..  1 (1) ..  1 (1) ..  1 (1)
Resident dividend income 290 394 400 (6) 607 582 25 623 593 30 644 607 37 657 613 44
Subtotal: Withholding tax 2,427 2,443 2,473 (30) 2,723 2,646 77 2,987 2,935 52 3,529 3,546 (17) 3,946 4,175 (229)
Total income tax 35,066 37,583 37,785 (202) 40,535 40,499 36 42,846 42,409 437 45,246 44,828 418 47,496 47,234 262
Other: Estate and gift duties ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  .. 
Total direct tax 35,066 37,583 37,785 (202) 40,535 40,499 36 42,846 42,409 437 45,246 44,828 418 47,496 47,234 262
Indirect tax                  
GST (net) 20,208 21,259 21,215 44 22,480 22,495 (15) 23,618 23,541 77 24,617 24,598 19 25,415 25,568 (153)
Excise duties on:                  
Alcoholic drinks 654 656 670 (14) 678 703 (25) 706 727 (21) 735 761 (26) 765 798 (33)
Tobacco products 238 288 300 (12) 277 264 13 282 275 7 289 284 5 300 289 11
Petroleum fuels 845 878 890 (12) 931 938 (7) 991 1,022 (31) 1,056 1,075 (19) 1,083 1,104 (21)
Subtotal: Excise duties 1,737 1,822 1,860 (38) 1,886 1,905 (19) 1,979 2,024 (45) 2,080 2,120 (40) 2,148 2,191 (43)
Other indirect tax                  
Customs duty 2,057 2,037 2,100 (63) 2,141 2,210 (69) 2,236 2,200 36 2,346 2,345 1 2,415 2,460 (45)
Road user charges 1,048 1,062 1,080 (18) 1,164 1,210 (46) 1,264 1,320 (56) 1,363 1,425 (62) 1,426 1,480 (54)
Gaming duties 271 274 271 3 278 274 4 283 276 7 288 280 8 293 283 10
Motor vehicle fees 169 178 180 (2) 187 185 2 193 190 3 198 195 3 203 200 3
Exhaustible resource levy 36 36 32 4 36 33 3 36 32 4 36 31 5 36 31 5
Approved issuer levy, cheque duty & other 90 85 83 2 92 89 3 92 94 (2) 92 91 1 92 89 3
Subtotal: Other indirect tax 3,671 3,672 3,746 (74) 3,898 4,001 (103) 4,104 4,112 (8) 4,323 4,367 (44) 4,465 4,543 (78)
Total indirect tax 25,616 26,753 26,821 (68) 28,264 28,401 (137) 29,701 29,677 24 31,020 31,085 (65) 32,028 32,302 (274)
Total tax 60,682 64,336 64,606 (270) 68,799 68,900 (101) 72,547 72,086 461 76,266 75,913 353 79,524 79,536 (12)
Total tax (% of GDP) 29.11% 30.09% 30.21% -0.13% 30.19% 30.23% -0.04% 30.49% 30.29% 0.19% 30.75% 30.61% 0.14% 30.92% 30.92% 0.00%
less Core Crown tax eliminations                  
Core Crown income tax 262 586 586   749 749 505 505   543 543 586 586  
GST on Crown expenses and departmental outputs 6,073 6,192 6,192   6,296 6,296 6,418 6,418   6,529 6,529 6,659 6,659  
Crown ESCT 324 415 415   416 416 423 423   430 430 437 437  
Crown AIL 36 30 30   30 30 30 30   30 30 30 30  
Core Crown taxation 53,987 57,113 57,383 (270) 61,308 61,409 (101) 65,171 64,710 461 68,734 68,381 353 71,812 71,824 (12)
Core Crown tax (% of GDP) 25.90% 26.71% 26.83% 0.13% 26.90% 26.95% -0.04% 27.39% 27.19% -0.19% 27.71% 27.57% 0.14% 27.92% 27.92% 0.00%
less Total Crown tax eliminations                  
Income tax from SOEs and CEs 342 318 318   520 520 589 589   662 662 720 720  
Other Crown GST (4) (3) (3)   27 27 (22) (22)   (18) (18) (19) (19)  
ESCT from SOEs and CEs 13 10 10   11 11 11 11   11 11 11 11  
Lottery duty 54 50 50   55 55 58 58   61 61 64 64  
Total Crown taxation 53,582 56,738 57,008 (270) 60,695 60,796 (101) 64,535 64,074 461 68,018 67,665 353 71,036 71,048 (12)
Total Crown tax (% of GDP) 25.70% 26.53% 26.66% -0.13% 26.63% 26.68% -0.04% 27.12% 26.93% 0.19% 27.43% 27.28% 0.14% 27.62% 27.62% 0.00%
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