The tax revenue we collect is used by the Government to benefit all New Zealanders. It helps pay for public services, like education, roads and healthcare.
Total revenue assessed and forecast
- $93.8 billion revenue was assessed compared to $72.2 billion forecast.
Revenue forecast compared to tax revenue assessed
| Year | Revenue Forecast ($ billion) | Tax revenue assessed ($ billion) |
|---|---|---|
| 2017 | $69.2 | $65.0 |
| 2018 | $70.6 | $72.1 |
| 2019 | $76.6 | $77.9 |
| 2020 | $80.8 | $77.7 |
| 2021 | $72.2 | $93.8 |
This indicator looks at the amount of revenue assessed compared with the total revenue the Government expected to receive.
Tax revenue was $21.6 billion higher than forecast. Tax revenue and tax receipts for 2020-21 are significantly higher than forecasts due to the New Zealand economy being stronger than initially predicted. The forecasts were done in May 2021, shortly after the outbreak and spread of COVID-19. Employment growth, wage growth, business profits, taxable incomes, provisional tax estimates, consumption and residential investment have all been significantly higher than forecast. Refer to our Schedule of non-departmental revenue for a breakdown of total revenue.
Schedule of non-departmental revenue
Total cash forecast and received
This indicator looks at the total tax receipts the Government received for tax returns filed (current year and prior years), provisional tax payments and deposits into tax pooling.
Crown cash received to 30 June 2021 for tax payments was $90.4 billion, which is $21.7 billion over forecast and $14.1 billion higher than last year