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Budget 2017 - Summary of all tax collections

Budget 2017 - Summary of all tax collections

This table outlines the New Zealand Government's planned tax collections for the 2017/18 budget year.

Actual tax collected for the previous four years is on the left for the sake of comparison.

The numbers are drawn together from data released by the Minister of Finance on May 25, 2017.

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 2013/14 Actual 2014/15 Actual
2015/16
Actual
2016/17
  Budget
2017/18
%
NZ$m NZ$m NZ$m NZ$m   NZ$m  
             
3.0 0.0 0.0 0.0 Stamp and cheque duties 0.0 0.0
8.0 6.9 5.8 5.0 Energy resource levy - coal 5.0 0.0
27.4 29.6 22.4 25.9 Energy resource levy - gas 24.9 0.0
93.2 102.6 86.4 86.0 Other indirect taxes 88.0 0.1
187.1 181.0 214.1 237.2 Motor vehicle registration 235.2 0.3
267.0 264.4 275.5 293.0 Gaming duties 285.0 0.3
488.5 514.1 502.4 530.0 Fringe benefit tax 554.0 0.6
1,204.5 1,283.0 1,381.1 1,430.8 Road user charges 1,436.8 1.7
1,787.5 1,978.1 2,218.3 2,185.1 Excise duties (incl petrol) 2,292.8 2.7
2,159.8 2,391.1 2,441.6 2,493.0 Customs duty 2,473.0 2.9
2,525.6 2,839.0 3,019.1 2,752.0 Withholding taxes 2,793.0 3.2
3,643.1 4,253.2 4,047.4 4,647.0 Other persons (trusts, SMEs) 4,811.0 5.6
10,425.0 10,384.1 11,531.9 13,149.0 Company income tax 13,189.0 15.3
22,416.6 23,677.6 24,901.5 26,430.0 GST 27,810.0 32.3
24,203.6 25,777.8 27,498.6 28,919.0 Personal income tax 29,987.0 34.9
====== ====== ====== ======  =================  ======  
$69,439.2 $73,682.9 $78,146.2 $83,182.9 Total tax collected $85.984.7  100%
$236,268 $242,989 $253,071 $266,750 GDP (nominal, per RBNZ) $278,000 E
29.4% 30.3% 30.9% 31.2% Tax collected as % of GDP 30.9% E
and this compares with spending as follows:    
$80,555.7 $83,200.2 $86,218.5 $91.964.6 Total government spending $94,557.2  
        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.

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

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