Statement of Intent - 2004 - Part 3
Statement of accounting policies and forecast assumptions - page 80-81
for the year ended 30 June 2005
| Budgeted 2004 $000 |
Estimated actual 2004 $000 |
Forecast 2005 $000 | |
|---|---|---|---|
| Direct taxation | |||
| Income tax | |||
| Individuals | |||
| Source deductions | 16,420,000 | 16,800,000 | 17,650,000 |
| Other persons | 4,235,000 | 4,000,000 | 4,040,000 |
| Refunds | (865,000) | (880,000) | (880,000) |
| Fringe benefit tax | 376,000 | 408,000 | 426,000 |
| Sub-total individuals | 20,166,000 | 20,328,000 | 21,236,000 |
| Companies | |||
| Gross company tax - other | 5,232,000 | 6,229,000 | 6,495,000 |
| Gross company tax - state-owned enterprises | 285,000 | 284,000 | 385,000 |
| Gross company tax - Crown entities | 58,000 | 49,000 | 54,000 |
| Gross company tax - NZS fund | 138,000 | 138,000 | 181,000 |
| Refunds | (158,000) | (175,000) | (163,000) |
| Sub-total companies | 5,555,000 | 6,525,000 | 6,952,000 |
| Withholding tax | |||
| Residents' interest | 1,060,000 | 1,210,000 | 1,300,000 |
| Residents' dividends | 54,000 | 51,000 | 55,000 |
| Foreign source dividends | 122,000 | 125,000 | 135,000 |
| Non-residents' income | 720,000 | 831,000 | 816,000 |
| Sub-total withholding tax | 1,956,000 | 2,217,000 | 2,306,000 |
| Total income tax | 27,677,000 | 29,070,000 | 30,494,000 |
| Other direct taxation | |||
| Estate and gift duties | 1,000 | 2,000 | 2,000 |
| Sub-total other direct taxation | 1,000 | 2,000 | 2,000 |
| Total direct taxation | 27,678,000 | 29,072,000 | 30,496,000 |
| Indirect taxation | |||
| Goods and services tax | |||
| GST (Inland Revenue) | 13,851,000 | 15,205,000 | 15,917,000 |
| GST (refunds) | (6,105,000) | (6,805,000) | (7,172,000) |
| Sub-total GST | 7,746,000 | 8,400,000 | 8,745,000 |
| Other indirect tax | |||
| Stamp and cheque duties | 50,000 | 54,000 | 54,000 |
| Gaming duties | 311,000 | 298,000 | 318,000 |
| Other indirect tax | 0 | 1,000 | 1,000 |
| Sub-total other indirect tax | 361,000 | 353,000 | 373,000 |
| Total indirect taxation | 8,107,000 | 8,753,000 | 9,118,000 |
| Total taxation | 35,785,000 | 37,825,000 | 39,614,000 |
| Compulsory fees, fines, penalties and levies | 235,300 | 237,500 | 241,100 |
| Investment income | 406,229 | 395,174 | 448,530 |
| Total operating revenue | 36,426,529 | 38,457,674 | 40,303,630 |
The accompanying accounting policies form part of these financial schedules.
Other pages in: Statement of Intent - 2004 - Part 3
- Statement of accounting policies and forecast assumptions - pages 78-79
- Schedule of Forecast Expenditure - page 82
- Schedule of Forecast Assets - page 83
- Schedule of Forecast Liabilities - page 84
- Schedule of Forecast Movements in Equity - page 85
- Schedule of Forecast Cash Flows from Operating Activities - pages 86-87
- Schedule of Forecast Cash Flows from Investing Activities - page 88
- Schedule of Forecast Expenditure - page 89
- Schedule of Forecast Cash Movements - page 90
- Schedule of Forecast Operating Surplus to Operating Cash Flow - page 91
- Schedule of Forecast Contingent Liabilities - page 92
- Schedule of Forecast Accident Compensation Collection - page 93
- Schedule of Forecast Expenditure and Appropriations - page 94
- Schedule of Forecast Student Loans - page 95
- Statement of Intent a map of Inland Revenue office locations - page 96
Date published: 16 Nov 2004
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