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Financial Statements of the Government of New Zealand for the Year Ended 30 June 2008

Note 2: Tax and Levies Collected through the Crown's Sovereign Power (Accrual)

Note 2: Tax and Levies Collected through the Crown's Sovereign Power (Accrual)
Forecast Actual
Original
Budget
$m 		Estimated
Actuals
$m 		30 June 2008
$m 		30 June 2007
$m
Direct Income Tax Revenue (accrual)
Individuals
22,334 22,735 Source deductions 23,345 20,980
4,553 4,986 Other persons 5,071 4,440
(1,102) (1,290) Refunds (1,470) (1,080)
474 521 Fringe benefit tax 522 468
26,259 26,952 Total individuals 27,468 24,808
Corporate Tax
8,222 8,403 Gross companies tax 8,787 8,849
(255) (310) Refunds (242) (296)
1,005 1,653 Non-resident withholding tax 1,506 1,189
102 122 Foreign-source dividend withholding payments 71 149
9,074 9,868 Total corporate tax 10,122 9,891
Other Direct Income Tax
2,340 2,596 Resident withholding tax on interest income 2,699 2,227
92 63 Resident withholding tax on dividend income 69 89
2 3 Estate and gift duties 3 2
2,434 2,662 Total other direct income tax 2,771 2,318
37,767 39,482 Total direct income tax 40,361 37,017
Indirect Income Tax Revenue (accrual)
Goods and Services Tax
19,726 20,655 Gross goods and services tax 20,631 19,540
(8,231) (8,841) Refunds (9,516) (8,325)
11,495 11,814 Total goods and services tax 11,115 11,215
Other Indirect Taxation
1,865 1,880 Customs duty 1,857 1,836
877 867 Road user charges 851 786
903 818 Petroleum fuels excise 819 819
586 573 Alcohol excise 573 553
148 144 Tobacco excise 159 238
215 245 Gaming duties 260 230
219 227 Motor vehicle fees 226 222
64 89 Approved issuer levy and cheque duty 105 94
34 47 Energy resources levies 46 54
4,911 4,890 Total other indirect taxation 4,896 4,832
16,406 16,704 Total indirect taxation 16,011 16,047
54,173 56,186 Total taxation revenue 56,372 53,064
Other Sovereign Revenue (accrual)
2,654 2,770 ACC levies 2,718 2,468
261 285 Fire Service levies 279 268
86 86 EQC levies 86 84
243 268 Child Support 308 242
236 264 Court Fines 262 250
213 178 Other miscellaneous items 226 184
3,693 3,851 Total other sovereign revenue 3,879 3,496
57,866 60,037 Total sovereign revenue 60,251 56,560
Note 2: Tax and Levies Collected through the Crown's Sovereign Power (Cash)
Forecast Actual
Original
Budget
$m 		Estimated
Actuals
$m 		30 June 2008
$m 		30 June 2007
$m
Direct Income Tax Receipts (cash)
Individuals
22,334 22,676 Source deductions 22,830 21,009
5,430 5,669 Other persons 5,469 5,121
(2,017) (2,238) Refunds (2,171) (1,850)
470 486 Fringe benefit tax 489 482
26,217 26,593 Total individuals 26,617 24,762
Corporate Tax
9,184 9,327 Gross companies tax 9,075 9,120
(1,041) (1,000) Refunds (1,026) (1,153)
981 1,615 Non-resident withholding tax 1,638 1,135
102 122 Foreign-source dividend withholding payments 72 141
9,226 10,064 Total corporate tax 9,759 9,243
Other Direct Income Tax
2,340 2,567 Resident withholding tax on interest income 2,616 2,192
92 63 Resident withholding tax on dividend income 40 90
2 3 Estate and gift duties 2 3
2,434 2,633 Total direct other income tax 2,658 2,285
37,877 39,290 Total direct income tax 39,034 36,290
Indirect Tax Receipts (cash)
Goods and Services Tax
19,354 20,038 Gross goods and services tax 20,085 18,701
(7,877) (8,561) Refunds (8,859) (7,625)
11,477 11,477 Total goods and services tax 11,226 11,076
Other Indirect Taxation
1,865 1,880 Customs duty 1,946 1,778
877 867 Road user charges 851 791
903 818 Petroleum fuels excise 809 835
586 573 Alcohol excise 554 549
148 144 Tobacco excise 160 265
215 245 Gaming duties 238 236
219 227 Motor vehicle fees 223 208
64 89 Approved issuer levy and cheque duty 85 74
35 52 Energy resources levies 42 55
4,912 4,895 Total other indirect taxation 4,908 4,791
16,389 16,372 Total indirect taxation 16,134 15,867
54,266 55,662 Total tax receipts collected 55,168 52,157
Other Sovereign Receipts (cash)
2,561 2,565 ACC levies 2,561 2,408
263 285 Fire Service levies 281 268
86 86 EQC levies 86 84
197 183 Child Support 171 178
156 167 Court Fines 169 160
209 210 Other miscellaneous items 192 126
3,472 3,496 Total other sovereign receipts 3,460 3,224
57,738 59,158 Total sovereign receipts 58,628 55,381
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