Budget 2020 - Summary of all tax collections

Budget 2020 - Summary of all tax collections

This table outlines the New Zealand Government's planned tax collections for the 2019/20 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 14, 2020.

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
2015/16
Actual
2016/17
Actual
2017/2018
Actual
2018/19
Actual
2019/20
  Estimate
2020/21
%
NZ$m NZ$m NZ$m NZ$m NZ$m   NZ$m  
               
1.3 1.6 0.0 0.7   Adverse Income Equalisation Account    
12.1 14.8 14.1 12.7 13.0 Unclaimed Monies 13.3 0.0
65.0 56.3 24.0 14.6 20.0 Working for Families Tax Credit Interest and Penalties 18.0 0.0
7.2 5.9 11.7 18.0 18.5 Other non-tax revenue 18.5 0.0
214.3 57.0 88.2 102.7 80.0 Income Equalisation Reserve Account 80.0 0.1
86.4 86.5 108.6 107.2 110.0 Other Indirect Taxes 110.0 0.1
275.5 297.7 317.0 313.6 285.0 Gaming Duties 296.0 0.3
603.3 602.5 603.7 429.9 385.0 Interest on Impaired Student Loans 387.0 0.4
473.7 464.2 469.1 469.9 472.0 Child Support Collections 471.0 0.5
502.4 524.8 558.5 585.5 591.0 Fringe Benefit Tax 555.0 0.6
1,208.9 1,272.8 1,348.1 1,370.7 1,375.0 Student Loans repayments 1,347.0 1.4
3,019.1 2,803.5 2,913.4 3,147.5 2,825.0 Withholding Taxes in interest/dividends 2,043.0 2.2
4,301.9 3,591.7 3,547.8 3,754.4 3,616.5 Finance 3,608.3 3.9
4,047.4 4,743.9 4,716.8 5,234.4 5,090.0 Other Persons 4,892.0 5.2
11,531.9 13,743.4 13,622.2 15,724.5 12,727.0 Company tax 11,556.0 12.4
13,179.8 13,269.2 14,379.5 15,543.5 15,103.9 Customs 15,930.2 17.0
16,440.4 17,899.2 18,688.4 19,393.1 19,077.0 Goods and Services Tax 18,139.0 19.4
27,498.6 29,123.9 31,217.7 33,373.9 35,398.0 Payroll deductions by employers 33,995.0 36.4
---------- ---------- ---------- ---------- ---------- ----------------------------- ---------- ----
$ 83,469 $ 88,559 $ 92,629 $ 99,597 $ 97,187 Grand Total $ 93,459 100%
257,702 274,612 292,897 303,287 307,229  GDP (nominal, per RBNZ) 291,867  
32.4% 32.2% 31.6% 32.8% 31.6%  Govt taxation - % of GDP 32.0%  
and this compares with spending as follows:
86,219 89,455 92,134 99,867 130,778 Total expenditure 129,109  

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

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