Budget 2021 - Summary of all tax collections
25th May 21, 10:42am
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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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