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Budget 2021 - Summary of all tax collections

Budget 2021 - Summary of all tax collections

This table outlines the New Zealand Government's planned tax collections for the 2021/22 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 20, 2021.

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
2016/17
Actual
2017/18
Actual
2018/2019
Actual
2019/20
Actual
2020/21
  Estimate
2021/22
%
NZ$m NZ$m NZ$m NZ$m NZ$m   NZ$m  
               
14.8 14.1 12.7 9.4.0 16.5 Unclaimed Monies 13.3 0.0
56.3 24.0 14.6 20.8 20.0 Working for Families Tax Credit Interest and Penalties 18.0 0.0
57.0 88.2 102.7 97.7 125.0 Income Equalisation Reserve Account 90.0 0.1
86.5 108.6 107.2 103.0 116.0 Other Indirect Taxes 116.0 0.1
5.9 11.7 18.0 26.7 128.0 Other non-tax revenue 157.0 0.1
602.5 603.7 429.9 367.0 271.0 Interest on Impaired Student Loans 229.0 0.2
1.6 0.0 0.7 4.6 99.0 Adverse Income Equalisation Account 252.0 0.2
297.7 317.0 313.6 276.2 320.0 Gaming Duties 318.0 0.3
464.2 469.1 469.9 493.2 470.0 Child Support  451.0 0.4
524.8 558.5 585.5 593.3 611.0 Fringe Benefit Tax 648.0 0.6
1,272.8 1,348.1 1,370.7 1,413.5 1,453.0 Student Loans repayments 1,508.0 1.4
2,803.5 2,913.4 3,147.5 2,926.8 2,524.0 Withholding Taxes 2,201.0 2.0
3,591.7 3,547.8 3,754.4 3,560.3 2,877.2 Finance 3,367.1 3.1
4,743.9 4,716.8 5,234.4 5,303.5 5,838.0 Other Persons 5,061.0 4.6
13,743.4 13,622.2 15,724.5 12,342.9 15,748.0 Company Tax 14,009.0 12.9
13,269.2 14,379.5 15,543.5 15,115.9 14,620.7 Customs 15,837.8 14.5
17,899.2 18,688.4 19,393.1 20,630.9 24,953.0 Goods and Services Tax 24,673.0 22.7
29,123.9 31,217.7 33,373.9 35,479.8 37,533.0 Payroll deductions by employers 39,942.0 36.7
---------- ---------- ---------- ---------- ---------- ----------------------------- ---------- ----
$ 88,559 $ 92,629 $ 99,597 $ 98,766 $ 107,723 Grand Total $ 108,891 100%
$274,612 $292,897 $303,287 $310,261 $316,552 GDP (nominal, per RBNZ) $334,339  
32.2% 31.6% 32.8% 31.8% 34.0%  Govt taxation - % of GDP 33.0%  
and this compares with spending as follows:
$83,774 $86,289 $99,868 $130,096 $144,029 Total Expenditure $ 146,880  

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

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1 Comments

Do 'customs' taxes include all excise taxes - such as for tobacco and alcohol?

If not, where are these found in the above headings?