For the year ended 30 June 2021
|
Actual 2020 ($000) |
Notes 2, 3 |
Actual 2021 ($000) |
Unaudited budget 2021 ($000) |
Unaudited forecast 2022 ($000) |
|
|---|---|---|---|---|---|
| Direct taxation | |||||
| Income tax |
|||||
| Individuals |
|||||
| $34,073,382 | Source deductions (PAYE) | $37,121,636 | $33,977,000 | $38,466,000 | |
| $7,190,664 | Other persons | $8,773,497 | $6,694,000 | $7,076,000 | |
| $(1,887,138) | Refunds | $(1,716,220) | $(1,859,000) | $(2,015,000) | |
| $593,333 | Fringe benefit tax | $607,943 | $555,000 | $648,000 | |
| $39,970,241 | Total individuals | $44,786,856 | $39,367,000 |
$44,175,000 |
|
| Corporate tax | |||||
| $12,767,295 | Gross companies tax | $18,374,762 | $10,974,000 | $14,398,000 | |
| $(424,365) | Refunds | $(343,723) | $(283,000) | $(389,000) | |
| $570,325 | Non-resident withholding tax | $472,192 | $431,000 | $472,000 | |
| $12,913,255 | Total corporate tax | $18,503,231 | $11,122,000 | $14,481,000 | |
| Other direct income tax | |||||
| $1,528,844 | Resident withholding tax on interest income | $1,000,451 | $1,016,000 | $1,016,000 | |
| $827,581 | Resident withholding tax on dividend income | $1,519,475 | $596,000 | $713,000 | |
| $1,406,459 | Employer superannuation contribution tax | $1,554,424 | $1,363,000 | $1,476,000 | |
| $3,762,884 | Total other direct income tax | $4,074,350 | $2,975,000 | $3,205,000 | |
| $56,646,380 | Total direct taxation | $67,364,437 | $53,464,000 | $61,861,000 | |
| Indirect taxation | |||||
| Goods and services tax | |||||
| $34,742,580 | Gross goods and services tax | $40,268,344 | $31,241,000 | $39,743,000 | |
| $(14,111,693) | Refunds | $(14,252,179) | $(12,925,000) | $(15,070,000) | |
| $20,630,887 | Total goods and services tax | $26,016,165 | $18,316,000 | $24,673,000 | |
| Other indirect taxation | |||||
| $100,923 | Approved issuer levy | $87,810 | $108,000 | $114,000 | |
| $276,214 | Gaming duties | $321,929 | $296,000 | $318,000 | |
| $2,080 | Other indirect taxation | $1,430 | $2,000 | $2,000 | |
| $379,217 | Total other indirect taxation | $411,169 | $406,000 | $434,000 | |
| $21,010,104 | Total indirect taxation | $26,427,334 | $18,722,000 | $25,107,000 | |
| $77,656,484 | Total taxation | $93,791,771 | $72,186,000 | $86,968,000 | |
| Other revenue | |||||
| $196,567 | Child support | $335,013 | $199,000 | $164,000 | |
| – | Interest unwind - Small Business Cashflow Scheme | $119,369 | – | $149,000 | |
| $330,993 | Interest unwind - student loans | $234,551 | $353,000 | $194,000 | |
| $56,971 | Other revenue | $47,658 | $49,800 | $39,300 | |
| $584,531 | Total other revenue | $736,591 | $601,800 | $546,300 | |
| $78,241,015 | Total revenue excluding gains | $94,528,362 | $72,787,800 | $87,514,300 |
The accompanying accounting policies and notes form part of these financial schedules.
For a full understanding of the Crown’s financial position and the results of its operation and cash flows, refer to the consolidated ‘Financial Statements of the Government of New Zealand for the year ended 30 June 2021’.
Last updated:
02 Nov 2021