Budget 2014 - Summary of all tax collections

Budget 2014 - Summary of all tax collections

This table outlines the New Zealand Government's planned tax collections for the 2014/15 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 15, 2014.

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
2010/11
Actual
2011/12
Actual 2012/13 Interim 2013/14   Budget
2014/15
%
NZ$m NZ$m NZ$m NZ$m   NZ$m  
             
 2.0 0.0 0.0 0.0  Minor direct taxes 0.0 0.0%
 4.0 4.0 3.0 3.0  Stamp and cheque duties 0.0 0.0%
7.8 7.8 7.8 7.8  Energy resource levy - coal 7.8 0.0%
28.0 30.1 28.1 28.1  Energy resource levy - gas 28.1 0.0%
84.0 84.0 82.0 89.0  Other indirect taxes 95.0 0.1%
169.0 167.8 177.7 186.7  Motor vehicle registration 195.4 0.3%
263.0 268.0 275.0 278.0  Gaming duties 267.0 0.4%
461.0 430.0 460.0 477.0  Fringe benefit tax 512.0 0.7%
995.4 1,049.1 1,062.0 1,163.6  Road user charges 1,267.7 1.71%
1,725.3 1,801.8 1,860.5 1,922.6  Excise duties (incl petrol) 1,903.3 2.6%
1,991.0 2,053.0 2,037.0 2,141.0  Customs duty 2,284.0 3.1%
2,409.0 2,686.0 2,444.0 2,725.0  Withholding taxes 2,985.0 4.0%
2,141.0 2,383.0 3,553.0 3,595.0 Other persons (trusts, small businesses) 4,033.0 5.4%
7,834.0 8,423.0 8,968.0 9,451.0  Company income tax 10,479.0 14.2%
18,914.0 21,077.0 22,023.0 21,602.0  GST 24,186.0 32.7%
21,161.0 21,636.0 22,977.0 22,815.0  Personal income tax 25,693.0 34.8%
=====  ===== ===== ======  =================  =====  =====
$58,595.3  $61,732.4 $66,248.2 $69,512.5  Total tax collected $73,936.2  100%
$200,234 $20,8467 $213,844 $223,217  GDP (nominal, per RBNZ) $229,020 E
29.3% 29.6% 31.0% 31.1%  Tax collected as % of GDP 32.3% E
and this compares with spending as follows:    
$78,944.4 $79,499.1 $82,163.9 $82,712.6 Total government spending $85,548.6  
        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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