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Budget 2017 Home Page Budget Economic and Fiscal Update 2017

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

2015/16
Actual
2016/17
Forecast
2017/18
Forecast
2018/19
Forecast
2019/20
Forecast
2020/21
Forecast
$ million   Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference
Direct tax                  
Individuals                  
Source deductions 27,321 28,754 28,840 (86) 29,953 30,011 (58) 30,122 30,086 36 31,636 31,511 125 32,976 32,799 177
Other persons tax 6,170 6,574 6,700 (126) 6,868 6,898 (30) 7,112 7,045 67 7,397 7,283 114 7,658 7,602 56
Refunds (2,540) (2,520) (2,500) (20) (2,526) (2,467) (59) (2,551) (2,444) (107) (2,509) (2,390) (119) (2,545) (2,413) (132)
Fringe benefit tax 506 530 525 5 554 545 9 580 560 20 604 575 29 624 585 39
Subtotal: Individuals 31,457 33,338 33,565 (227) 34,849 34,987 (138) 35,263 35,247 16 37,128 36,979 149 38,713 38,573 140
Company tax (net) 10,974 12,861 12,732 129 12,859 13,143 (284) 14,019 14,241 (222) 15,056 15,258 (202) 15,878 16,082 (204)
Withholding taxes on:                  
Resident interest income 1,727 1,485 1,510 (25) 1,519 1,305 214 1,725 1,415 310 2,325 1,990 335 2,897 2,460 437
Non-resident income 636 569 605 (36) 589 635 (46) 653 687 (34) 740 753 (13) 801 807 (6)
Foreign-source dividends (5) 3 (2) 5 ..  1 (1) ..  1 (1) ..  1 (1) ..  1 (1)
Resident dividend income 620 684 675 9 685 682 3 719 707 12 747 732 15 775 757 18
Subtotal: Withholding tax 2,978 2,741 2,788 (47) 2,793 2,623 170 3,097 2,810 287 3,812 3,476 336 4,473 4,025 448
Total direct tax 45,409 48,940 49,085 (145) 50,501 50,753 (252) 52,379 52,298 81 55,996 55,713 283 59,064 58,680 384
                 
Indirect tax                  
GST (net) 24,736 26,109 26,272 (163) 27,527 27,797 (270) 29,129 29,079 50 30,531 30,253 278 31,514 31,235 279
Excise duties on:                  
Alcoholic drinks 667 679 683 (4) 712 706 6 731 723 8 756 756 ..  780 776 4
Tobacco products 370 348 352 (4) 366 365 1 380 375 5 393 391 2 408 402 6
Petroleum fuels 1,187 1,148 1,218 (70) 1,215 1,240 (25) 1,240 1,253 (13) 1,257 1,265 (8) 1,267 1,280 (13)
Subtotal: Excise duties 2,224 2,175 2,253 (78) 2,293 2,311 (18) 2,351 2,351 ..  2,406 2,412 (6) 2,455 2,458 (3)
Other indirect tax                  
Customs duty 2,553 2,500 2,400 100 2,457 2,469 (12) 2,544 2,533 11 2,618 2,601 17 2,691 2,670 21
Road user charges 1,382 1,431 1,470 (39) 1,437 1,542 (105) 1,483 1,625 (142) 1,536 1,706 (170) 1,582 1,782 (200)
Gaming duties 276 293 300 (7) 285 301 (16) 291 302 (11) 296 304 (8) 302 305 (3)
Motor vehicle fees 240 237 221 16 235 229 6 239 238 1 241 245 (4) 244 250 (6)
Exhaustible resource levy 28 31 28 3 30 28 2 30 27 3 30 27 3 30 26 4
Approved issuer levy, cheque duty & other 91 86 95 (9) 88 99 (11) 96 109 (13) 105 114 (9) 105 119 (14)
Subtotal: Other indirect tax 4,570 4,578 4,514 64 4,532 4,668 (136) 4,683 4,834 (151) 4,826 4,997 (171) 4,954 5,152 (198)
Total indirect tax 31,530 32,862 33,039 (177) 34,352 34,776 (424) 36,163 36,264 (101) 37,763 37,662 101 38,923 38,845 78
                 
Total tax 76,939 81,802 82,124 (322) 84,853 85,529 (676) 88,542 88,562 (20) 93,759 93,375 384 97,987 97,525 462
Total tax (% of GDP) 30.4% 30.4% 30.5% -0.1% 30.1% 30.4% -0.3% 29.8% 29.8% 0.0% 30.1% 29.9% 0.2% 30.2% 30.0% 0.2%
less Core Crown tax eliminations                  
Core Crown income tax (37) 867 867   976 976 751 751   807 807 866 866  
GST on Crown expenses and departmental outputs 6,698 6,929 6,929   7,213 7,213 7,494 7,494   7,797 7,797 7,976 7,976  
Crown ESCT 446 438 438   452 452 456 456   460 460 461 461  
Crown AIL 44 55 55   55 55 55 55   55 55 55 55  
Core Crown taxation 69,788 73,513 73,835 (322) 76,157 76,833 (676) 79,786 79,806 (20) 84,640 84,256 384 88,629 88,167 462
Core Crown tax (% of GDP) 27.6% 27.3% 27.5% -0.2% 27.0% 27.3% -0.3% 26.9% 26.9% 0.0% 27.1% 27.0% 0.1% 27.3% 27.1% 0.2%
less Total Crown tax eliminations                  
Income tax from SOEs and CEs 623 491 491   570 570 540 540   592 592 633 633  
Other Crown GST 49 41 41   (46) (46) (12) (12)   (6) (6) ..  ..   
ESCT from SOEs and CEs 24 15 15   16 16 16 16   16 16 16 16  
Lottery duty 56 53 53   54 54 55 55   56 56 57 57  
Total Crown taxation 69,036 72,913 73,235 (322) 75,563 76,239 (676) 79,187 79,207 (20) 83,982 83,598 384 87,923 87,461 462
Total Crown tax (% of GDP) 27.3% 27.1% 27.2% -0.1% 26.8% 27.1% -0.3% 26.7% 26.7% 0.0% 26.9% 26.8% 0.1% 27.1% 26.9% 0.2%
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