Budget 2020 - Summary of all tax collections
25th May 20, 11:51am
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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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