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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	Estimated Actual		30 June 2007	30 June 2006
$m	$m		$m	$m
		Direct Income Tax Revenue (accrual) [1]
		Individuals
20,595	21,073	Source deductions	21,085	19,985
4,533	4,614	Other persons	4,440	5,075
(962)	(1,085)	Refunds	(1,080)	(953)
426	456	Fringe benefit tax	468	451
24,592	25,058	Total Individuals	24,913	24,558
		Corporate Tax
8,353	8,265	Gross companies tax	8,618	9,439
(205)	(252)	Refunds	(296)	(270)
874	1,142	Non-resident withholding tax	1,189	1,096
220	146	Foreign-source dividend withholding payments	149	160
9,242	9,301	Total Corporate Tax	9,660	10,425
		Other Income Tax
2,079	2,156	Resident withholding tax on interest income	2,227	1,880
56	89	Resident withholding tax on dividend income	89	74
2	4	Estate and gift duties	2	3
2,137	2,249	Total Other Income Tax	2,318	1,957
35,971	36,608	Total Direct Income Tax	36,891	36,940
		Indirect Tax Revenue (accrual)
		Goods and Services Tax
18,692	19,203	Gross goods and services tax	19,527	18,367
(8,028)	(8,332)	Refunds	(8,325)	(7,664)
10,664	10,871	Total Goods and Services Tax	11,202	10,703
		Other Indirect Taxation
914	881	Petroleum fuels excise	819	852
145	244	Tobacco excise	238	834
1,773	1,760	Customs duty	1,836	1,083
793	785	Road user charges	786	731
537	559	Alcohol excise	553	516
256	230	Gaming duties	245	275
223	220	Motor vehicle fees	222	221
58	49	Energy resources levies	54	73
74	71	Approved issuer levy and cheque duty	92	83
4,773	4,799	Total Other Indirect Taxation	4,845	4,668
15,437	15,670	Total Indirect Taxation	16,047	15,371
51,408	52,278	Total Taxation Revenue	52,938	52,311
		Levies, fees, fines and penalties (accrual)
2,189	2,454	ACC levies	2,476	2,326
253	259	Fire Service levies	265	254
83	84	EQC levies	84	82
654	711	Other	743	749
3,179	3,508	Total levies, fees, fines and penalties	3,568	3,411
54,587	55,786	Total Sovereign Revenue	56,506	55,722

Notes

[1] There has been a change in the disclosure of bad debt write-offs of tax receivables. Tax write-offs are now shown as an expense rather than netted off against revenue. To ensure consistency comparative figures have been adjusted to conform with this change in presentation.

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

Forecast			Actual
Original Budget	Estimated Actual		30 June 2007	30 June 2006
$m	$m		$m	$m
		Direct Income Tax Receipts (cash)
		Individuals
20,534	21,034	Source deductions	21,069	19,897
5,189	5,296	Other persons	5,121	4,883
(1,780)	(1,858)	Refunds	(1,850)	(1,503)
421	469	Fringe benefit tax	482	450
24,364	24,941	Total Individuals	24,822	23,727
		Corporate Tax
8,602	8,865	Gross companies tax	9,016	8,512
(746)	(1,091)	Refunds	(1,153)	(833)
874	1,092	Non-resident withholding tax	1,135	1,093
220	148	Foreign-source dividend withholding payments	141	157
8,950	9,014	Total Corporate Tax	9,139	8,929
		Other Income Tax
2,078	2,154	Resident withholding tax on interest income	2,192	1,862
56	91	Resident withholding tax on dividend income	90	74
2	4	Estate and gift duties	3	2
2,136	2,249	Total Other Income Tax	2,285	1,938
35,450	36,204	Total Direct Income Tax	36,246	34,594
		Indirect Tax Receipts (cash)
		Goods and Services Tax
18,183	18,415	Gross goods and services tax	18,713	17,705
(7,669)	(7,604)	Refunds	(7,625)	(7,216)
10,514	10,811	Total Goods and Services Tax	11,088	10,489
		Other Indirect Taxation
914	881	Petroleum fuels excise	835	847
145	244	Tobacco excise	265	842
1,773	1,760	Customs duty	1,778	1,074
793	785	Road user charges	780	721
537	559	Alcohol excise	549	514
257	235	Gaming duties	246	273
223	220	Motor vehicle fees	208	199
58	53	Energy resources levies	55	73
74	71	Approved issuer levy and cheque duty	88	80
4,774	4,808	Total Other Indirect Taxation	4,804	4,623
15,288	15,619	Total Indirect Taxation	15,892	15,112
50,738	51,823	Total Taxation Receipts	52,138	49,706
		Levies, fees, fines and penalties (cash)
2,105	2,401	ACC levies	2,416	2,256
253	262	Fire Service levies	268	254
83	85	EQC levies	84	83
606	639	Other	650	653
3,047	3,387	Total levies, fees, fines and penalties	3,418	3,246
53,785	55,210	Total Sovereign Receipts	55,556	52,952

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Notes to the Financial Statements

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

Notes

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