| Actual 2022 ($000) | Vote: Revenue | Actual 2023 ($000) | Unaudited revised budget[1] 2023 ($000) | Unaudited budget 2023 ($000) | Unaudited forecast 20242 ($000) |
|---|---|---|---|---|---|
| Benefits and other unrequited expenses |
|||||
| $307,555 | Best Start Tax Credit PLA | $321,341 |
$324,000 | $375,000 | $339,000 |
| $296,495 | Child Support Payments PLA | $293,961 |
$295,000 | $285,000 | $466,000 |
| $2,016,589 | Family Tax Credit PLA | $2,151,179 |
$2,165,000 | $2,375,000 | $2,284,000 |
| $506,230 | In-Work Tax Credit PLA | $464,036 |
$457,000 | $545,000 | $477,000 |
| $158 | KiwiSaver: Interest | $932 |
$1,000 | $2,000 | $1,000 |
| $963,856 | KiwiSaver: Tax Credit | $995,699 |
$1,048,000 | $1,028,000 | $1,093,000 |
| $13,130 | Minimum Family Tax Credit PLA | $12,324 |
$12,000 | $17,000 | $12,000 |
| $602,634 | Paid Parental Leave Payments | $607,952 |
$635,000 | $645,000 | $677,000 |
| $4,706,647 | Total benefits and other unrequited expenses | $4,847,424 | $4,937,000 | $5,272,000 | $5,349,000 |
| Borrowing expenses |
|||||
| $1,510 | Environmental Restoration Account Interest PLA | $1,912 |
$2,100 | $1,400 | $2,100 |
| $8,444 | Income Equalisation Interest PLA | $1,912 |
$9,000 | $7,000 | $9,000 |
| $9,954 | Total borrowing expenses | $8,403 |
$11,100 | $8,400 | $11,100 |
| Other expenses |
|||||
| - | Cost of Living payment[3] | $599,986 | $706,000 | $800,000 | - |
| $2,712,507 | COVID-19 Resurgence Support Payment[4] | - | - | - | - |
| $1,306,810 | COVID-19 Support Payment[5] | - | - | - | - |
| $662,229 | Impairment of Debt and Debt Write-Offs[6] | $1,467,609 |
$1,185,000 | $841,000 | $931,000 |
| - | Impairment of Debt Relating to Child Support | $6,476 | $90,000 | - | - |
| - | Impairment of Debt Relating to Student Loans | - | $160,000 | - | - |
| $89,000 | Impairment of debt relating to the SBCS[7] | - | - | - | - |
| $230,069 | Initial Fair Value Write-Down Relating to the Small Business Cashflow Scheme COVID-19 | $53,926 |
$76,000 | $279,000 | $28,000 |
| $489,063 | Initial Fair Value Write-Down Relating to Student Loans | $550,743 |
$572,000 | $662,000 | $640,000 |
| $7,928,486 | KiwiSaver: employee and employer contributions PLA | $8,777,434 |
$8,730,000 | $8,480,000 | $9,770,000 |
| $472,967 | Research, Science and Innovation: R&DTI2] | $63,897 |
$361,525 | $472,525 | $535,334 |
| $13,891,399 | Total other expenses | $11,520,071 |
$11,880,525 | $11,534,525 | $11,904,334 |
| Capital Expenditure |
|||||
| $537,545 | Small Business Cashflow Scheme COVID-19 | $100,105 |
$145,000 | $652,000 | $60,000 |
| $537,545 | Total capital expenditure | $100,105 | $145,000 | $652,000 | $60,000 |
| $19,145,277 | Total appropriations | $16,477,915 |
$16,973,625 | $17,466,925 | $17,324,434 |
1 The revised budget figures for 2022–23 are those included in The Supplementary Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2023.
2 Since The Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2024 were published, the following forecasts were materially updated as part of the Pre-election Economic and Fiscal Update 2023: KiwiSaver: Employee and Employer Contributions PLA increases by $50 million, R&D Tax Incentive decreases by $69 million, and Impairment of Debt and Debt Write-Offs increases by $256 million.
3 The Cost of Living payment is a new appropriation in place for 2022–23 only.
4 The COVID-19 Resurgence Support Payment appropriation commenced 22 February 2021 and ended on 15 February 2022. It was, replaced with the COVID-19 Support Payment.
5 The COVID-19 Support Payment appropriation commenced on 16 February 2022 and ended on 30 June 2022.
6 Impairment of Debt and Debt Write-Offs relates to general tax, Working for Families Tax Credits, KiwiSaver and COVID-19 debt (excluding the Small Business Cashflow Scheme).
7 Refers to the Small Business Cashflow Scheme COVID-19.
PLA refers to appropriations established under a permanent legislative authority.
All of the non-departmental appropriations administered by the department are exempt from the requirements to report end-of-year performance information under section 1D of the Public Finance Act 1989.
The budget, revised budget and forecast figures have been prepared in accordance with NZ GAAP, using the same accounting policies as those adopted to prepare the non-departmental financial schedules. The forecast figures for 2023–24 are those included in The Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2024.
For a full understanding of the Crown's financial position and the results of its operations for the year, refer to the consolidated Financial Statements of the Government of New Zealand for the Year Ended 30 June 2023.