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Budget 2012- Summary of all tax collections

Posted in News

This table outlines the New Zealand Government's planned tax collections for the 2012/13 budget year.

Actual tax collected for the previous four years is on the left and includes, for the sake of comparison, the previous Labour Government's final spending in 2008/09.

The numbers are drawn together from data released by the Minister of Finance on May 24, 2012.

Links to the primary sources used, from Treasury's website, can be found at the bottom of the page.

Figures for each allocation are in millions of NZ$.

Actual
 2008/09
Actual
2009/10 
Actual
2010/11 
Actual
2011/12
  Budget
2012/13
%
NZ$m NZ$m NZ$m NZ$m   NZ$m  
             
 1.5  1.6  2.0 0.0  Minor direct taxes 0.0 0.0
90.4 81.7  4.0 4.0  Stamp and cheque duties 3.0 0.0
7.1 6.5 7.8 7.8  Energy resource levy - coal 7.8 0.0
31.4 32.7 28.0 30.1  Energy resource levy - gas 28.1 0.0
 7.73 10.5 84.0 84.0  Other indirect taxes 96.0 0.1
214.3 171.3 169.0 167.8  Motor vehicle registration 170.5 0.3
264.9 265.3 263.0 268.0  Gaming duties 281.0 0.4
500.1 460.7 461.0 430.0  Fringe benefit tax 458.0 0.7
880.7 909.9 995.4 1,049.1  Road user charges 1,152.3 1.8
1,569.4 1,621.7 1,725.3 1,801.8  Excise duties (incl petrol) 1,860.4 2.8
1,879.8 1,873.1 1,991.0 2,053.0  Customs duty 2,037.0 3.1
4,097.1 2,815.2 2,409.0 2,686.0  Withholding taxes 2,503.0 3.8
2,772.1 2,156.0 2,141.0 2,383.0  Other persons (trusts, small businesses) 2,819.0 4.3
8,294.3 6,630.8 7,834.0 8,423.0  Company income tax 8,968.0 13.7
16,107.4 16,727.6 18,914.0 21,077.0  GST 22,023.0 33.7
22,966.1 22,134.7 21,161.0 21,636.0  Personal income tax 22,977.0 35.1
=====  =====  =====     =================  =====  --- 
$59,684.3 $55,899.4 $58,189.5  $62,100.6  Total tax collected $65,383.9  
$184,132 $188,546 $197,699 $204,551  GDP (nominal, per RBNZ) $213,750 E
32.4% 29.6% 29.4%  30.4%  Tax collected as % of GDP 30.6% E
and this compares with spending as follows:        
$75,390.4 $76,053.8 $78,944.4 $82,050.5 Total government spending $81,664.8  
        click on this link for details    
             
Not all the difference between tax collected and expenditure needs to be borrowed. The Crown has other sources of revenue than tax. The biggest single reason is that significant portions of National Super payments are pre-funded in the Super Fund. In 2011/12 the Government is expecting to borrow about $13.5 billion gross, $5.9 billion net.

Sources: You can download the data behind these tables from the Treasury website here >>

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