This table outlines the New Zealand Government's planned tax collections for the 2022/23 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 19, 2022.
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 2017/18 | Actual 2018/19 | Actual 2019/20 | Actual 2020/21 | Estimate 2021/22 | Budget 2022/23 | % | |
| NZ$m | NZ$m | NZ$m | NZ$m | NZ$m | NZ$m | ||
| 0.0 | 0.7 | 4.6 | 112.4 | 0.0 | Adverse Income Equalisation Account | 0.0 | 0.0% |
| 14.1 | 12.7 | 9.4 | 17.4 | 30.0 | Unclaimed Monies | 16.0 | 0.0% |
| 24.0 | 14.6 | 20.8 | 20.0 | 20.0 | Working for Families interest and penalties | 19.0 | 0.0% |
| 88.2 | 102.7 | 97.7 | 130.8 | 97.0 | Income Equalisation Reserve Account | 97.0 | 0.1% |
| 469.1 | 469.9 | 493.2 | 467.0 | 179.0 | Child Support Collections | 172.0 | 0.1% |
| 317.0 | 313.6 | 276.2 | 321.9 | 258.0 | Gaming Duties | 321.0 | 0.2% |
| 603.7 | 429.9 | 367.0 | 271.6 | 299.0 | Interest on Impaired Student Loans | 435.0 | 0.3% |
| 0.0 | 0.0 | 0.0 | 0.0 | 754.0 | Small Business Cashflow Scheme receipts & interest unwind | 585.0 | 0.4% |
| 558.5 | 585.5 | 593.3 | 607.9 | 641.0 | Fringe Benefit Tax | 657.0 | 0.5% |
| 1,348.1 | 1,370.7 | 1,413.5 | 1,494.7 | 1,605.0 | Student Loans repayments | 1,665.0 | 1.2% |
| 2,913.4 | 3,147.5 | 2,926.8 | 2,992.1 | 2,194.0 | Withholding Taxes | 2,905.0 | 2.1% |
| 707.9 | 889.4 | 1,082.6 | 1,680.8 | 3,323.2 | Environment | 3,409.3 | 2.5% |
| 3,547.8 | 3,754.4 | 3,560.3 | 3,005.0 | 4,362.2 | Finance | 3,866.3 | 2.8% |
| 4,837.1 | 5,359.7 | 5,433.3 | 7,276.2 | 8,387.0 | Other Indirect Taxes | 9,369.0 | 6.8% |
| 14,379.5 | 15,543.5 | 15,115.9 | 14,890.9 | 17,098.2 | Customs | 17,973.1 | 13.1% |
| 13,622.2 | 15,724.5 | 12,342.9 | 18,031.0 | 17,570.0 | Companies | 22,230.0 | 16.1% |
| 18,688.4 | 19,393.1 | 20,630.9 | 26,016.2 | 25,228.0 | GST | 28,304.0 | 20.6% |
| 31,217.7 | 33,373.9 | 33,331.7 | 31,663.9 | 34,763.0 | PAYE | 37,148.0 | 33.1% |
| $93,337 | $100,486 | $97,700 | $108,970 | $116,809 | Grand Total | $129,172 | 100% |
| $295,641 | $310,163 | $318,731 | $342,477 | $361,900 | GDP (nominal, per RBNZ) | $392,100 | |
| 31.6% | 32.4% | 31.3% | 33.9% | 34.4% | Govt taxation - % of GDP | 35.1% | |
| and this compares with taxes collected as follows: | |||||||
| $81,582 | $94,402 | $124,855 | $131,109 | $161,686 | Total Expenditure | $150,480 | |
Sources: You can download the data behind these tables from the Treasury website here.
19 Comments
Assuming LVT = land value tax? Isn't that already baked into council rates? which is of course another tax...
Rates 100% have property values baked into it - why do we need tax on tax?
I remember when we bought our land to build our house and even though there were no drainage or permanent power we still had to pay $1,100p.a. to the council while we were building, just for owning it...
Of course that nearly quadrupled once we had a house on it...
. . the current government have been placing extra burdens on companies for 5 years ... it's a wonder the whole business sector hasn't collapsed ... Ardern's ministers have been kicking the snot out of farmers & companies repeatedly since 2017 ...
Whereas .... rich folks sitting on fortunes in property , aren't paying a single cent in tax on the increasing value of their land ... tax free windfalls for the rich ...
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