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Half Year Economic & Fiscal Update 2009

Notes to the Forecast Financial Statements

Note 1: Revenue Collected Through the Crown's Sovereign Power
2009
Actual
$m
2010
Previous
Budget
$m
2010
Forecast
$m
2011
Forecast
$m
2012
Forecast
$m
2013
Forecast
$m
2014
Forecast
$m

Taxation Revenue (accrual)

Individuals

Source deductions 22,587 21,699 22,353 22,763 23,983 25,354 27,045
Other persons 4,408 4,387 4,428 4,469 4,762 5,058 5,366
Refunds (1,636) (1,651) (1,886) (1,782) (1,857) (1,957) (2,073)
Fringe benefit tax 500 487 501 505 535 562 580
Total individuals 25,859 24,922 25,396 25,955 27,423 29,017 30,918

Corporate Tax

Gross companies tax 8,245 7,077 6,301 7,802 8,096 8,635 9,027
Refunds (430) (345) (360) (345) (344) (371) (378)
Non-resident withholding tax 1,451 1,107 1,060 1,086 1,154 1,201 1,250
Foreign-source dividend w/holding payments 10 13 3 13 13 13 13
Total corporate tax 9,276 7,852 7,004 8,556 8,919 9,478 9,912

Other Direct Income Tax

Resident w/holding tax on interest income 2,571 2,049 1,872 1,681 1,810 2,161 2,452
Resident w/holding tax on dividend income 65 211 146 293 304 312 320
Estate and gift duties 1 2 1 1 1 1 1
Total other direct income tax 2,637 2,262 2,019 1,975 2,115 2,474 2,773
Total direct income tax 37,772 35,036 34,419 36,486 38,457 40,969 43,603

Goods and Services Tax

Gross goods and services tax 20,551 21,121 18,835 20,397 22,369 24,057 25,428
Refunds (9,000) (9,960) (7,428) (8,156) (9,495) (10,653) (11,511)
Total goods and services tax 11,551 11,161 11,407 12,241 12,874 13,404 13,917

Other Indirect Taxation

Road user charges 868 885 900 916 959 1,010 1,059
Petroleum fuels excise - domestic production 781 802 856 929 984 1,017 1,053
Alcohol excise - domestic production 616 657 640 663 684 706 730
Tobacco excise - domestic production 172 172 185 186 188 190 193
Petroleum fuels excise - imports1 514 547 594 629 651 674
Alcohol excise - imports1 213 219 227 234 242 250
Tobacco excise - imports1 891 904 910 919 930 941
Other customs duty 262 1,818 235 211 191 170 154
Gaming duties 215 224 239 241 243 247 252
Motor vehicle fees 171 167 166 167 165 163 162
Energy resources levies 39 38 38 38 38 36 36
Approved issuer levy and cheque duty 80 92 88 88 88 87 87
Total other indirect taxation 4,822 4,855 5,017 5,170 5,322 5,449 5,591
Total indirect taxation 16,373 16,016 16,424 17,411 18,196 18,853 19,508
Total taxation revenue 54,145 51,052 50,843 53,897 56,653 59,822 63,111

Other Sovereign Revenue (accrual)

ACC levies 2,880 3,226 3,248 4,050 4,214 4,362 4,515
Fire Service levies 299 307 302 309 322 333 345
EQC levies 86 88 88 89 90 91 91
Other miscellaneous items 853 1,239 996 1,399 1,421 1,636 1,853
Total other sovereign revenue 4,118 4,860 4,634 5,847 6,047 6,422 6,804
Total sovereign revenue 58,263 55,912 55,477 59,744 62,700 66,244 69,915

1. Customs excise-equivalent duty.

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