The Treasury

Global Navigation

Personal tools

Government
Publication

Pre-election Economic & Fiscal Update 2011

Table 11 - Treasury and Inland Revenue forecasts of tax receipts (cash)

2010/11
Actual 		2011/12
Forecast 		2012/13
Forecast 		2013/14
Forecast 		2014/15
Forecast 		2015/16
Forecast
$ million   Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference Treasury IRD Difference

Direct tax

                 

Individuals

                 
Source deductions 21,081 21,576 21,281 295 23,013 22,811 202 24,608 24,468 140 26,327 26,205 122 28,105 27,959 146
Other persons tax 4,386 4,897 4,570 327 5,002 4,880 122 5,164 5,350 (186) 5,309 5,480 (171) 5,484 5,600 (116)
Refunds (2,463) (2,342) (2,410) 68 (2,350) (2,290) (60) (2,270) (2,150) (120) (2,206) (2,090) (116) (2,180) (1,980) (200)
Fringe benefit tax 457 439 447 (8) 457 457 ..  481 473 8 511 489 22 541 505 36
Subtotal: Individuals 23,461 24,570 23,888 682 26,122 25,858 264 27,983 28,141 (158) 29,941 30,084 (143) 31,950 32,084 (134)
Company tax (net) 7,717 8,522 8,255 267 8,785 8,455 330 9,635 9,000 635 10,038 9,365 673 10,305 9,555 750

Withholding taxes on:

                 
Resident interest income 1,701 1,645 1,768 (123) 1,873 1,854 19 2,250 1,978 272 2,644 2,461 183 3,068 3,087 (19)
Non-resident income 462 427 477 (50) 478 533 (55) 536 598 (62) 589 658 (69) 630 700 (70)
Foreign-source dividends (1) ..  1 (1) ..  1 (1) ..  1 (1) ..  1 (1) ..  1 (1)
Resident dividend income 196 206 215 (9) 286 292 (6) 469 469 ..  486 478 8 497 482 15
Subtotal: Withholding tax 2,358 2,278 2,461 (183) 2,637 2,680 (43) 3,255 3,046 209 3,719 3,598 121 4,195 4,270 (75)
Total income tax 33,536 35,370 34,604 766 37,544 36,993 551 40,873 40,187 686 43,698 43,047 651 46,450 45,909 541
Other: Estate and gift duties 2 ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  ..  .. 
Total direct tax 33,538 35,370 34,604 766 37,544 36,993 551 40,873 40,187 686 43,698 43,047 651 46,450 45,909 541

Indirect tax

                  
GST (net) 18,796 20,927 21,040 (113) 22,053 21,933 120 23,261 23,146 115 24,466 24,331 135 25,485 25,352 133

Excise duties on:

                 
Alcoholic drinks 625 712 696 16 746 732 14 777 769 8 812 808 4 849 851 (2)
Tobacco products 181 210 203 7 219 211 8 212 213 (1) 206 208 (2) 207 209 (2)
Petroleum fuels 869 921 939 (18) 938 948 (10) 979 987 (8) 1,016 1,016 0 1,055 1,046 9
Subtotal: Excise duties 1,675 1,843 1,838 5 1,903 1,891 12 1,968 1,969 (1) 2,034 2,032 2 2,111 2,106 5

Other indirect tax

                 
Customs duty 2,005 2,019 1,995 24 2,076 2,032 44 2,079 2,055 24 2,082 2,065 17 2,113 2,083 30
Road user charges 1,015 1,073 1,065 8 1,142 1,125 17 1,223 1,195 28 1,297 1,265 32 1,367 1,330 37
Gaming duties 268 272 271 1 277 275 2 282 279 3 287 283 4 292 287 5
Motor vehicle fees 171 168 175 (7) 166 180 (14) 169 185 (16) 173 190 (17) 176 195 (19)
Exhaustible resource levy 36 38 35 3 36 34 2 36 36 (0) 36 39 (3) 36 42 (6)
Approved issuer levy, cheque duty & other 89 91 104 (13) 91 93 (2) 91 91 ..  91 89 2 91 87 4
Subtotal: Other indirect tax 3,584 3,661 3,645 16 3,788 3,739 49 3,880 3,841 39 3,965 3,931 34 4,075 4,024 51
Total indirect tax 24,055 26,431 26,523 (92) 27,744 27,563 181 29,109 28,956 153 30,465 30,294 171 31,671 31,482 189
Total tax 57,593 61,801 61,127 674 65,288 64,556 732 69,982 69,143 839 74,163 73,341 822 78,121 77,391 730
Total tax (% of GDP) 28.8% 29.2% 28.9% 0.3% 29.4% 29.1% 0.3% 29.9% 29.5% 0.4% 30.1% 29.8% 0.3% 30.4% 30.1% 0.3%

less Core Crown tax eliminations

                 
Core Crown income tax 517 415 415   354 354 452 452   491 491 535 535  
GST on Crown expenses and departmental outputs 5,741 6,441 6,441   6,194 6,194 6,258 6,258   6,462 6,462 6,600 6,600  
Crown ESCT 370 359 359   365 365 369 369   374 374 379 379  
Crown AIL 29 30 30   30 30 30 30   30 30 30 30  
Core Crown taxation 50,936 54,555 53,881 674 58,345 57,613 732 62,872 62,034 839 66,807 65,984 822 70,577 69,847 730
Core Crown tax (% of GDP) 25.4% 25.8% 25.4% 0.3% 26.3% 26.0% 0.3% 26.8% 26.5% 0.4% 27.1% 26.8% 0.3% 27.5% 27.2% 0.3%

less Total Crown tax eliminations

                 
Income tax from SOEs and CEs 384 422 422   480 480 582 582   608 608 639 639  
Other Crown GST 70 11 11   (0) (0) 3 3   (28) (28) 6 6  
ESCT from SOEs and CEs 12 5 5   5 5 5 5   5 5 5 5  
Lottery duty 52 47 47   50 50 53 53   54 54 54 54  
Total Crown taxation 50,418 54,071 53,396 674 57,810 57,078 732 62,230 61,391 839 66,168 65,346 822 69,873 69,143 730
Total Crown tax (% of GDP) 25.2% 25.5% 25.2% 0.3% 26.1% 25.7% 0.3% 26.6% 26.2% 0.4% 26.9% 26.5% 0.3% 27.2% 26.9% 0.3%
Page top