Formats and related files
Vote Revenue#
APPROPRIATION MINISTER(S): Minister of Revenue (M57)
APPROPRIATION ADMINISTRATOR: Inland Revenue Department
RESPONSIBLE MINISTER FOR INLAND REVENUE DEPARTMENT: Minister of Revenue
Details of Appropriations and Capital Injections#
Annual and Permanent Appropriations#
| 2017/18 | |||
|---|---|---|---|
| Titles and Scopes of Appropriations by Appropriation Type | Estimates Budget $000 |
Supplementary Estimates Budget $000 |
Total Budget $000 |
|
Departmental Output Expenses |
|||
|
Investigations (M57) This appropriation is limited to undertaking investigation, audit and litigation activities administered by Inland Revenue. |
173,657 | (20,940) | 152,717 |
|
Management of Debt and Outstanding Returns (M57) This appropriation is limited to activities to prevent returns becoming outstanding and debt becoming overdue, and to collect outstanding returns and overdue payments, whether for the Crown, other agencies or external parties. |
148,301 | (8,357) | 139,944 |
|
Policy Advice (M57) This appropriation is limited to the provision of advice, including second opinion advice and contributions to policy advice led by other agencies, to support decision-making by Ministers on government policy matters. |
9,560 | (163) | 9,397 |
|
Services to Inform the Public About Entitlements and Meeting Obligations (M57) This appropriation is limited to providing information and assistance to the public to make them aware of their obligations and entitlements. This also includes the provision of services to help Ministers fulfil their responsibilities to Parliament and the New Zealand public, other than policy decision-making responsibilities. |
216,454 | 15,795 | 232,249 |
|
Services to Other Agencies RDA (M57) This appropriation is limited to the provision of services by Inland Revenue to other agencies, where those services are not within the scope of another departmental output expense appropriation in Vote Revenue. |
3,060 | 2,011 | 5,071 |
|
Services to Process Obligations and Entitlements (M57) This appropriation is limited to both the registration, assessment and processing of tax obligations and other entitlements, including associated review and Crown accounting activities, and the collection and sharing of related information with other agencies. |
114,502 | (9,446) | 105,056 |
|
Total Departmental Output Expenses |
665,534 | (21,100) | 644,434 |
|
Departmental Capital Expenditure |
|||
|
Inland Revenue Department - Capital Expenditure PLA (M57) This appropriation is limited to the purchase or development of assets by and for the use of the Inland Revenue Department, as authorised by section 24(1) of the Public Finance Act 1989. |
221,600 | (98,504) | 123,096 |
|
Total Departmental Capital Expenditure |
221,600 | (98,504) | 123,096 |
|
Benefits or Related Expenses |
|||
|
Child Support Payments PLA (M57) Child support payments to custodial persons who are not dependent on the state for financial support (expenses incurred pursuant to section 141 of the Child Support Act 1991). |
291,000 | (3,000) | 288,000 |
|
Child Tax Credit PLA (M57) Extra assistance for low to middle income families who are not dependent on the state for financial support (expenses incurred pursuant to section 185 of the Tax Administration Act 1994). |
900 | (100) | 800 |
|
Family Tax Credit PLA (M57) Family Support payments made to beneficiaries and non-beneficiaries during the year (expenses incurred pursuant to section 185 of the Tax Administration Act 1994). |
1,823,000 | (127,000) | 1,696,000 |
|
In-Work Tax Credit PLA (M57) Extra assistance for low to middle income families where the person works a minimum of 20 hours per week and does not have a partner, or a person and their partner work a minimum of 30 hours per week (expenses incurred pursuant to section 185 of the Tax Administration Act 1994). |
561,000 | (28,000) | 533,000 |
|
KiwiSaver: Interest (M57) To enable the payment of interest on KiwiSaver contributions as set out in the KiwiSaver Act 2006. |
12,000 | (2,000) | 10,000 |
|
KiwiSaver: Tax Credit (M57) To enable the payment of a tax credit to KiwiSaver members and the payment of residual tax credits to employers as set out in the Income Tax Act 2007. |
798,000 | 34,000 | 832,000 |
|
Minimum Family Tax Credit PLA (M57) Extra payment made to families where at least one parent is working for salary or wages (expenses incurred pursuant to section 185 of the Tax Administration Act 1994). |
12,000 | - | 12,000 |
|
Paid Parental Leave Payments (M57) This appropriation is limited to Paid Parental Leave Payments made to parents in accordance with the Parental Leave and Employment Protection Act 1987. |
338,000 | (41,000) | 297,000 |
|
Parental Tax Credit PLA (M57) This appropriation is limited to expenses incurred on parental tax credit as provided for in subpart MD of the Income Tax Act 2007 and as authorised by section 185 of the Tax Administration Act 1994. |
29,000 | - | 29,000 |
|
Payroll Subsidy PLA (M57) This appropriation is limited to the payment of a subsidy to a payroll agent undertaking employers' payroll-related tax compliance activities on their behalf, section 185 of the Tax Administration Act 1994. |
5,900 | 1,700 | 7,600 |
|
Total Benefits or Related Expenses |
3,870,800 | (165,400) | 3,705,400 |
|
Non-Departmental Borrowing Expenses |
|||
|
Adverse Event Interest PLA (M57) This appropriation is limited to interest on Adverse Event Income Equalisation Reserve accounts held by taxpayers in the farming and agriculture business, authorised by section 65ZH(1) of the Public Finance Act 1989. |
10 | - | 10 |
|
Environmental Restoration Account Interest PLA (M57) This appropriation is limited to interest on Environmental Restoration accounts, authorised by section 65ZH(1) of the Public Finance Act 1989. |
2,000 | - | 2,000 |
|
Income Equalisation Interest PLA (M57) This appropriation is limited to interest on Income Equalisation Reserve Scheme accounts held by taxpayers in the farming, fishing or forestry industries, authorised by section 65ZH(1) of the Public Finance Act 1989. |
10,000 | (3,000) | 7,000 |
|
Total Non-Departmental Borrowing Expenses |
12,010 | (3,000) | 9,010 |
|
Non-Departmental Other Expenses |
|||
|
Impairment of Debt and Debt Write-Offs (M57) This appropriation is limited to bad debt write-offs for Crown debt administered by Inland Revenue, excluding child support and student loans and to amounts relating to the impairment of this debt. |
800,000 | - | 800,000 |
|
Impairment of Debt Relating to Child Support (M57) This appropriation is limited to the impairment of child support debt. |
- | 5,000 | 5,000 |
|
Impairment of Debt Relating to Student Loans (M57) This appropriation is limited to the impairment of student loan debt. |
100,000 | (34,000) | 66,000 |
|
Initial Fair Value Write-Down Relating to Student Loans (M57) This appropriation is limited to the initial fair value write-down of student loans. |
676,000 | (38,000) | 638,000 |
|
Total Non-Departmental Other Expenses |
1,576,000 | (67,000) | 1,509,000 |
|
Total Annual and Permanent Appropriations |
6,345,944 | (355,004) | 5,990,940 |
Multi-Year Appropriations#
| Type, Title, Scope and Period of Appropriations | Appropriations, Adjustments and Use | $000 |
|---|---|---|
|
Departmental Other Expenses |
||
|
Transformation (M57) This appropriation is limited to the design and implementation of a modern system for tax revenue and social policy administered by Inland Revenue.Commences: 01 July 2017 Expires: 30 June 2021 |
Original Appropriation | 1,112,607 |
| Adjustments to 2016/17 | - | |
| Adjustments for 2017/18 | 26,254 | |
| Adjusted Appropriation | 1,138,861 | |
| Actual to 2016/17 Year End | - | |
| Estimated Actual for 2017/18 | 220,168 | |
| Estimated Actual for 2018/19 | 320,876 | |
| Estimated Appropriation Remaining | 597,817 |
Total Annual and Permanent Appropriations and Multi-Year Appropriation Forecasts#
| 2017/18 | |||
|---|---|---|---|
| Estimates Budget $000 |
Supplementary Estimates Budget $000 |
Total Budget $000 |
|
| Total Annual and Permanent Appropriations | 6,345,944 | (355,004) | 5,990,940 |
| Total MYA Departmental Other Expenses Forecasts | 382,372 | (162,204) | 220,168 |
|
Total Annual and Permanent Appropriations and Multi-Year Appropriation Forecasts |
6,728,316 | (517,208) | 6,211,108 |
Capital Injection Authorisations#
| 2017/18 | |||
|---|---|---|---|
| Estimates Budget $000 |
Supplementary Estimates Budget $000 |
Total Budget $000 |
|
| Inland Revenue Department - Capital Injection (M57) | 181,600 | (123,000) | 58,600 |
Supporting Information#
Part 1 - Vote as a Whole#
1.2 - Trends in the Vote
Summary of Financial Activity
| 2017/18 | |||||
|---|---|---|---|---|---|
| Supplementary Estimates | |||||
| Estimates $000 |
Departmental Transactions $000 |
Non-Departmental Transactions $000 |
Total Transactions $000 |
Total $000 |
|
|
Appropriations |
|||||
| Output Expenses | 665,534 | (21,100) | - | (21,100) | 644,434 |
| Benefits or Related Expenses | 3,870,800 | N/A | (165,400) | (165,400) | 3,705,400 |
| Borrowing Expenses | 12,010 | - | (3,000) | (3,000) | 9,010 |
| Other Expenses | 1,958,372 | (162,204) | (67,000) | (229,204) | 1,729,168 |
| Capital Expenditure | 221,600 | (98,504) | - | (98,504) | 123,096 |
| Intelligence and Security Department Expenses and Capital Expenditure | - | - | N/A | - | - |
| Multi-Category Expenses and Capital Expenditure (MCA) | |||||
| Output Expenses | - | - | - | - | - |
| Other Expenses | - | - | - | - | - |
| Capital Expenditure | - | N/A | - | - | - |
|
Total Appropriations |
6,728,316 | (281,808) | (235,400) | (517,208) | 6,211,108 |
|
Crown Revenue and Capital Receipts |
|||||
| Tax Revenue | 70,574,000 | N/A | 1,619,000 | 1,619,000 | 72,193,000 |
| Non-Tax Revenue | 1,152,500 | N/A | (46,000) | (46,000) | 1,106,500 |
| Capital Receipts | 1,427,000 | N/A | 6,000 | 6,000 | 1,433,000 |
|
Total Crown Revenue and Capital Receipts |
73,153,500 | N/A | 1,579,000 | 1,579,000 | 74,732,500 |
Part 2 - Details of Departmental Appropriations#
2.1 - Departmental Output Expenses#
Investigations (M57)
Scope of Appropriation
Expenses and Revenue
| 2017/18 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 173,657 | (20,940) | 152,717 |
| Revenue from the Crown | 173,089 | (20,676) | 152,413 |
| Revenue from Others | 568 | (264) | 304 |
Reasons for Change in Appropriation
This appropriation decreased by $20.940 million to $152.717 million for 2017/18, due to:
- a fiscally neutral adjustment of $14.720 million to other appropriations administered by Inland Revenue to reflect changes in expenditure assumptions within the 2017/18 financial year
- a transfer of $4.494 million from 2017/18 to 2018/19 as a result of efficiencies and other savings made in the 2017/18 financial year
- a transfer of $873,000 from 2017/18 to 2018/19 and out years to align with the timing of depreciation and other operating costs associated with shorter term investments until the Transformation programme is fully implemented
- a transfer of $586,000 to the Department of Internal Affairs to meet cross-agency funding needs for the Service Innovation Work Programme Initiatives in 2017/18
- a fiscally neutral adjustment of $264,000 to ensure all co-location revenue received from other departments is captured within the Services to Other Agencies appropriation, and
- the return of $3,000 unspent capital charge as a result of returned capital funding for the implementation of the 2016 Business Tax Package to the Crown.
Management of Debt and Outstanding Returns (M57)#
Scope of Appropriation#
Expenses and Revenue#
| 2017/18 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 148,301 | (8,357) | 139,944 |
| Revenue from the Crown | 145,680 | (7,758) | 137,922 |
| Revenue from Others | 2,621 | (599) | 2,022 |
Reasons for Change in Appropriation#
This appropriation decreased by $8.357 million to $139.944 million for 2017/18 due to:
- a transfer of $4.448 million from 2017/18 to 2018/19 as a result of efficiencies and other savings made in the 2017/18 financial year
- a fiscally neutral adjustment of $1.560 million to other appropriations administered by Inland Revenue to reflect changes in expenditure assumptions within the 2017/18 financial year
- a transfer of $1.167 million from 2017/18 to 2018/19 and out years to align with the timing of depreciation and other operating costs associated with shorter term investments until the Transformation programme is fully implemented
- a fiscally neutral adjustment of $599,000 to ensure all co-location revenue received from other departments is captured within the Services to Other Agencies appropriation
- a transfer of $580,000 to the Department of Internal Affairs to meet cross-agency funding needs for the Service Innovation Work Programme Initiatives in 2017/18, and
- the return of $3,000 of unspent capital charge as a result of returned capital funding for the implementation of the 2016 Business Tax Package to the Crown.
Policy Advice (M57)#
Scope of Appropriation#
Expenses and Revenue#
| 2017/18 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 9,560 | (163) | 9,397 |
| Revenue from the Crown | 9,537 | (153) | 9,384 |
| Revenue from Others | 23 | (10) | 13 |
Reasons for Change in Appropriation#
This appropriation decreased by $163,000 to $9.397 million for 2017/18, due to:
- a transfer of $135,000 from 2017/18 to 2018/19 as a result of efficiencies and other savings made in the 2017/18 financial year
- a transfer of $18,000 to the Department of Internal Affairs to meet cross-agency funding needs for the Service Innovation Work Programme Initiatives in 2017/18, and
- a fiscally neutral adjustment of $10,000 to ensure all co-location revenue received from other departments is captured within the Services to Other Agencies appropriation.
Services to Inform the Public About Entitlements and Meeting Obligations (M57)#
Scope of Appropriation#
Expenses and Revenue#
| 2017/18 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 216,454 | 15,795 | 232,249 |
| Revenue from the Crown | 214,572 | 16,399 | 230,971 |
| Revenue from Others | 1,882 | (604) | 1,278 |
Reasons for Change in Appropriation#
This appropriation increased by $15.795 million to $232.249 million for 2017/18 due to:
- a fiscally neutral adjustment of $21.247 million from other appropriations administered by Inland Revenue to reflect changes in expenditure assumptions within the 2017/18 financial year, and
- additional funding of $800,000 for the implementation of the Budget 2017 Family Incomes Package initiative.
This is partially offset by:
- a transfer of $5.641 million from 2017/18 to 2018/19 and out years to align with the timing of depreciation and other operating costs associated with shorter term investments until the Transformation programme is fully implemented
- a fiscally neutral adjustment of $604,000 to ensure all co-location revenue received from other departments is captured within the Services to Other Agencies appropriation, and
- the return of $7,000 unspent capital charge as a result of returned capital funding for the implementation of the 2016 Business Tax Package to the Crown.
Services to Other Agencies RDA (M57)#
Scope of Appropriation#
Expenses and Revenue#
| 2017/18 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 3,060 | 2,011 | 5,071 |
| Revenue from the Crown | - | - | - |
| Revenue from Others | 3,060 | 2,011 | 5,071 |
Reasons for Change in Appropriation#
This appropriation increased by $2.011 million to $5.071 million for 2017/18 due to:
- a fiscally neutral adjustment of $1.796 million to ensure all co-location revenue received from other departments is captured within the Services to Other Agencies appropriation, and
- a cost recovery of $420,000 from The Treasury for costs incurred by the Tax Working Group.
This is partially offset by a decrease of $205,000 in operating cost recoveries received from other agencies.
Services to Process Obligations and Entitlements (M57)#
Scope of Appropriation#
Expenses and Revenue#
| 2017/18 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Total Appropriation | 114,502 | (9,446) | 105,056 |
| Revenue from the Crown | 93,368 | (9,127) | 84,241 |
| Revenue from Others | 21,134 | (319) | 20,815 |
Reasons for Change in Appropriation#
This appropriation decreased by $9.446 million to $105.056 million for 2017/18 due to:
- a transfer of $4.967 million to other appropriations administered by Inland Revenue to reflect changes in expenditure assumptions within the 2017/18 financial year
- a transfer of $3.019 million from 2017/18 to 2018/19 and out years to align with the timing of depreciation and operating costs associated with shorter term investments until the Transformation programme is fully implemented
- a transfer of $2.423 million from 2017/18 to 2018/19 as a result of efficiencies and other savings in the 2017/18 financial year
- a fiscally neutral adjustment of $319,000 to ensure all co-location revenue received from other departments is captured within the Services to Other Agencies appropriation
- a transfer of $316,000 to the Department of Internal Affairs to meet cross-agency funding needs for the Service Innovation Work Programme Initiatives in 2017/18, and
- the return of $2,000 unspent capital charge as a result of returned capital funding for the implementation of the 2016 Business Tax Package to the Crown.
This is partially offset by additional funding of $1.600 million for the implementation of the Budget 2017 Family Incomes Package initiative.
2.2 - Departmental Other Expenses#
Transformation (M57)#
Scope of Appropriation and Expenses
| Type, Title, Scope and Period of Appropriations | Appropriations, Adjustments and Use | $000 |
|---|---|---|
|
Transformation (M57) This appropriation is limited to the design and implementation of a modern system for tax revenue and social policy administered by Inland Revenue.Commences: 01 July 2017 Expires: 30 June 2021 |
Original Appropriation | 1,112,607 |
| Adjustments to 2016/17 | - | |
| Adjustments for 2017/18 | 26,254 | |
| Adjusted Appropriation | 1,138,861 | |
| Actual to 2016/17 Year End | - | |
| Estimated Actual for 2017/18 | 220,168 | |
| Estimated Actual for 2018/19 | 320,876 | |
| Estimated Appropriation Remaining | 597,817 |
Reasons for Change in Appropriation
This Transformation MYA appropriation increased by $26.254 million to $1,138.861 million in 2017/18 due to a transfer from the 2016/17 annual Transformation appropriation to better align with the estimated costs of the updated Transformation work programme. The forecast numbers have changed to reflect the planned release approach and timing of key support activities across the Transformation programme.
2.3 - Departmental Capital Expenditure and Capital Injections#
Inland Revenue Department - Capital Expenditure PLA (M57)#
Scope of Appropriation
Capital Expenditure
| 2017/18 | |||
|---|---|---|---|
| Estimates $000 |
Supplementary Estimates $000 |
Total $000 |
|
| Forests/Agricultural | - | - | - |
| Land | - | - | - |
| Property, Plant and Equipment | 8,000 | 6,000 | 14,000 |
| Intangibles | 213,600 | (104,504) | 109,096 |
| Other | - | - | - |
|
Total Appropriation |
221,600 | (98,504) | 123,096 |
Reasons for Change in Appropriation
This appropriation decreased by $98.504 million to $123.096 million for 2017/18. The cost estimates for the remainder of the Transformation programme have been updated. The forecast shows that while transformation costs are expected to remain well within the approved funding envelope, the timing of some of the costs and contingencies has changed due to the planned release approach and the timing of key support activities across the programme. As a result, $109.128 million has been re-phased to 2018/19 and out years.
This is partially offset by a $10.624 million increase in capital expenditure to maintain and improve business infrastructure projects and leasehold improvement projects.
Capital Injections and Movements in Departmental Net Assets
Inland Revenue Department
| Details of Net Asset Schedule | 2017/18 Main Estimates Projections $000 |
2017/18 Supplementary Estimates Projections $000 |
Explanation of Projected Movements in 2017/18 |
|---|---|---|---|
| Opening Balance | 255,461 | 253,605 | Supplementary Estimates opening balance reflects the audited results as at 30 June 2017. |
| Capital Injections | 181,600 | 58,600 | The cost estimates for the remainder of the Transformation programme have been updated. Capital injections have been adjusted to reflect the planned release approach and the timing of key support activities across the programme. |
| Capital Withdrawals | - | (483) | Capital withdrawal of $483,000 for the business tax package initiative. |
| Surplus to be Retained (Deficit Incurred) | - | - | |
| Other Movements | - | - | |
|
Closing Balance |
437,061 | 311,722 |
Part 3 - Details of Non-Departmental Appropriations#
3.2 - Non-Departmental Benefits or Related Expenses#
Child Support Payments PLA (M57)
Scope of Appropriation
Reasons for Change in Appropriation
This appropriation decreased by $3 million to $288 million for 2017/18 due to lower than predicted receipts from non-custodial parents.
Child Tax Credit PLA (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation decreased by $100,000 to $800,000 for 2017/18 due to slightly faster than forecast attrition. The child tax credit is an historical credit and is closed to new claims. Expenditure on the child tax credit will continue to ease, and eventually cease, as remaining recipients gradually change to the in-work tax credit or are no longer eligible.
Family Tax Credit PLA (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation decreased by $127 million to $1,696 million for 2017/18 mainly due to the repeal of the Budget 2017 working for families initiatives which were to have increased payments between April and June 2018. Family income growth was stronger than expected and this also reduced entitlement.
In-Work Tax Credit PLA (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation decreased by $28 million to $533 million for 2017/18 mainly due to stronger than expected family income growth which reduced entitlement.
KiwiSaver: Interest (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation decreased by $2 million to $10 million for 2017/18 due to lower than forecast interest rates. The estimate for KiwiSaver interest includes a level of contingency ($2 million) as this appropriation is demand driven and does not have a permanent legislative authority.
KiwiSaver: Tax Credit (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation increased by $34 million to $832 million for 2017/18 due to contributing membership uptake being stronger than expected. The estimate for KiwiSaver tax credit includes a level of contingency ($10 million) as this appropriation is demand driven and does not have a permanent legislative authority.
Paid Parental Leave Payments (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation decreased by $41 million to $297 million for 2017/18 due to forecasting model improvements. The estimate for paid parental leave payments includes a level of contingency ($10 million) as this appropriation is demand driven and does not have a permanent legislative authority.
Payroll Subsidy PLA (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation increased by $1.700 million to $7.600 million for 2017/18 as Budget 2017 anticipated repeal of the appropriation effective from 1 April 2018. The subsidy is now legislated to continue until April 2020.
3.3 - Non-Departmental Borrowing Expenses#
Income Equalisation Interest PLA (M57)#
Scope of Appropriation
Reasons for Change in Appropriation
This appropriation decreased by $3 million to $7 million for 2017/18 as taxpayer activity in the scheme is lower than expected.
3.4 - Non-Departmental Other Expenses#
Impairment of Debt Relating to Child Support (M57)#
Scope of Appropriation
What is Intended to be Achieved with this Appropriation
This appropriation provides for incurring the expense involved in recognising an impairment loss to reflect the recoverable value of the total child support debt as at the end of the financial year.
How Performance will be Assessed and End of Year Reporting Requirements
An exemption was granted under section 15D(2)(b)(ii) of the Public Finance Act 1989, as additional performance information is unlikely to be informative because this appropriation is solely for the impairment of child support debt. Performance information relating to this expenditure is provided under the Services for Customers Multi-Category Appropriation under the Management of Debt and Outstanding Returns category.
Reasons for Change in Appropriation
The appropriation increased by $5 million to $5 million in 2017/18 to reflect the inclusion of a contingency to prevent any unauthorised expenditure as this appropriation does not have a permanent legislative authority.
Impairment of Debt Relating to Student Loans (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation decreased by $34 million to $66 million for 2017/18 following an interim valuation of the scheme completed in April 2018.
Initial Fair Value Write-Down Relating to Student Loans (M57)#
Scope of Appropriation#
Reasons for Change in Appropriation#
This appropriation decreased by $38 million to $638 million in 2017/18 mainly due to a decrease in the lending forecast as a result of the fees free policy. This was partially offset by an increase in the lending forecast as a result of the $50 per week increase to the student loan living costs. This appropriation is largely dependent on the level of student loan lending.