This table outlines the New Zealand Government's planned tax collections for the 2023/24 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, 2023.
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 2018/19 | Actual 2019/20 | Actual 2020/21 | Actual 2021/22 | Estimate 2022/23 | Budget 2023/24 | % | |
| NZ$m | NZ$m | NZ$m | NZ$m | NZ$m | NZ$m | ||
| 0.7 | 4.6 | 112.4 | 0.0 | 0.0 | Adverse Income Equalisation Account | 0.0 | 0.0% |
| 0.0 | 0.0 | 0.0 | 0.0 | 6.0 | Environmental Restoration Accounts Scheme | 0.0 | 0.0% |
| 469.9 | 493.2 | 467.0 | 194.8 | 138.0 | Child Support Collections | 13.0 | 0.0% |
| 18.0 | 26.7 | 129.7 | 18.6 | 21.0 | Other non-tax revenue | 21.0 | 0.0% |
| 14.6 | 20.8 | 20.0 | 23.7 | 25.0 | Working for Families Tax Credit Interest and Penalties | 25.0 | 0.0% |
| 12.7 | 9.4 | 17.4 | 50.4 | 60.0 | Unclaimed Monies | 60.0 | 0.0% |
| 102.7 | 97.7 | 130.8 | 122.1 | 110.0 | Income Equalisation Reserve Account | 110.0 | 0.1% |
| 0.0 | 0.0 | 0.0 | 122.6 | 108.0 | Small Business Cashflow Scheme interest unwind | 115.0 | 0.1% |
| 107.2 | 103.0 | 89.2 | 97.5 | 126.0 | Other Indirect Taxes | 126.0 | 0.1% |
| 313.6 | 276.2 | 321.9 | 272.5 | 338.0 | Gaming Duties | 341.0 | 0.3% |
| 0.0 | 0.0 | 0.0 | 362.3 | 421.6 | Small Business Cashflow Scheme receipts | 455.0 | 0.3% |
| 429.9 | 367.0 | 271.6 | 317.6 | 608.0 | Interest on Impaired Student Loans | 621.0 | 0.5% |
| 585.5 | 593.3 | 607.9 | 684.4 | 732.0 | Fringe Benefit Tax | 739.0 | 0.6% |
| 1,370.7 | 1,413.5 | 1,494.7 | 1,604.7 | 1,706.0 | Student Loans - Receipts | 1,805.0 | 1.3% |
| 3,147.5 | 2,926.8 | 2,992.1 | 2,465.6 | 3,345.0 | Withholding Taxes | 3,655.0 | 2.7% |
| 3,754.4 | 3,560.3 | 3,005.0 | 3,756.6 | 5,399.2 | Finance | 5,286.7 | 4.0% |
| 5,234.4 | 5,303.5 | 7,057.3 | 9,380.4 | 9,127.0 | Other Persons | 9,496.0 | 7.1% |
| 15,543.5 | 15,115.9 | 14,890.9 | 17,511.8 | 18,687.6 | Customs | 19,068.6 | 14.3% |
| 15,724.5 | 12,342.9 | 18,031.0 | 19,862.3 | 20,495.0 | Companies | 22,395.0 | 16.7% |
| 19,393.1 | 20,630.9 | 26,016.2 | 24,690.6 | 25,806.0 | GST | 28,182.0 | 21.1% |
| 33,373.9 | 33,331.7 | 31,633.9 | 35,217.3 | 38,870.0 | PAYE | 41,235.0 | 30.8% |
| 99,597 | 96,617 | 107,289 | 116,756 | 126,129 | Grand Total | 133,749 | 100% |
| 310,232 | 317,392 | 343,132 | 363,110 | 394,000 | GDP (nominal, per RBNZ) | 415,022 | |
| 32% | 30% | 31% | 32% | 32% | Govt taxation - % of GDP | 32% | |
| and this compares with taxes collected as follows: | |||||||
| 99,868 | 127,948 | 129,986 | 154,114 | 162,137 | Total Expenditure | 165,903 | |
Sources: You can download the data behind these tables from the Treasury website here.
5 Comments
Interesting how graphics can trick you. Looking at the Pie Chart leading the article I expected GST and PAYE to be about the same value in the data set that followed.
However, GST is only two thirds the value of PAYE consequently, a different perspective results from mapping the data in the table.
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