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Notes to the Financial Statements

Note 1:  Tax and Levies Collected through the Crown’s Sovereign Power (Accrual)

Forecast Actual
Original Budget $m Estimated Actual $m 30 June 2005 $m 30 June 2004 $m
Original Budget $m Estimated Actual $m 30 June 2005 $m 30 June 2004 $m
Forecast Actual
Income Tax Revenue (accrual)
Individuals
17,701 18,324 Source deductions 18,324 16,908
3,995 4,103 Other persons 4,103 4,027
(876) (876) Refunds (876) (860)
432 441 Fringe benefit tax 441 410
21,252 21,992 Total Individuals 21,992 20,485
Corporate Tax
6,416 7,549 Gross companies tax 7,537 6,099
(187) (232) Refunds (232) (180)
803 927 Non-resident withholding tax 927 800
130 188 Foreign-source dividend withholding payments 188 139
7,162 8,432 Total Corporate Tax 8,420 6,858
Other Income Tax
1,282 1,501 Resident withholding tax on interest income 1,501 1,188
58 59 Resident withholding tax on dividend income 59 49
2 2 Estate and gift duties 2 2
1,342 1,562 Total Other Income Tax 1,562 1,239
29,756 31,986 Total Direct Income Tax 31,974 28,582
Goods and Services Tax
17,156 17,324 Gross goods and services tax 17,378 16,603
(7,120) (7,180) Refunds (7,180) (6,885)
10,036 10,144 Total Goods and Services Tax 10,198 9,718
Other Indirect Taxation
802 817 Petroleum fuels excise 823 947
831 823 Tobacco excise 842 819
958 917 Customs duty 947 720
686 713 Road user charges 713 667
482 485 Alcohol excise 491 476
299 282 Gaming duties 281 261
211 217 Motor vehicle fees 217 211
77 73 Energy resources levies 73 75
55 64 Approved issuer levy and cheque duty 65 56
4,401 4,391 Total Other Indirect Taxation 4,452 4,232
14,437 14,535 Total Indirect Taxation 14,650 13,950
44,193 46,521 Total Tax Revenue Collected 46,624 42,532
Other Sovereign Revenues (accrual)
2,000 2,184 ACC levies 2,119 1,989
231 241 Fire Service levies 249 233
80 80 EQC levies 80 78
763 721 Other 667 686
3,074 3,226 Total Other Sovereign Revenues 3,115 2,986
47,267 49,747 Total Sovereign Revenue 49,739 45,518
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