| Actual 2021 ($000) | Vote: Revenue | Actual 2022 ($000) | Unaudited revised budget[1] 2022 ($000) | Unaudited budget 2022 ($000) | Unaudited forecast 2023 ($000) |
|---|---|---|---|---|---|
| Benefits and other unrequited expenses |
|||||
| $271,100 | Best Start Tax Credit PLA | $307,555 | $339,000 | $405,000 | $375,000 |
| $281,234 | Child Support Payments PLA | $296,495 | $294,000 | $286,000 | $285,000 |
| $2,102,743 | Family Tax Credit PLA | $2,016,589 | $2,108,000 | $2,064,000 | $2,375,000 |
| $571,734 | In-Work Tax Credit PLA | $506,230 | $542,000 | $620,000 | $545,000 |
| $391 | KiwiSaver: Interest | $158 | $1,000 | $1,000 | $2,000 |
| $915,571 | KiwiSaver: Tax Credit | $963,856 | $987,000 | $973,000 | $1,028,000 |
| $13,220 | Minimum Family Tax Credit PLA | $13,130 | $15,000 | $27,000 | $17,000 |
| $503,310 | Paid Parental Leave Payments | $602,634 | $620,000 | $540,000 | $645,000 |
| $250,000 | Research, Science and Innovation: R&D Tax Incentive[2] | n/a | n/a | n/a | n/a |
| $4,909,303 | Total benefits and other unrequited expenses | $4,706,647 | $4,906,000 | $4,916,000 | $5,272,000 |
| Borrowing expenses |
|||||
| $1,418 | Environmental Restoration Account Interest PLA | $1,510 | $1,400 | $1,400 | $1,400 |
| $6,476 | Income Equalisation Interest PLA | $8,444 | $7,000 | $10,000 | $7,000 |
| $7,894 | Total borrowing expenses | $9,954 | $8,400 | $11,400 | $8,400 |
| Other expenses |
|||||
| n/a | Cost of Living payment[3] | n/a | n/a | n/a | $800,000 |
| $199,983 | COVID-19 Resurgence Support Payment[4] | $2,712,507 | $2,726,943 | n/a | n/a |
| n/a | COVID-19 Support Payment[5] | $1,306,810 | $1,530,000 | n/a | n/a |
| $881,659 | Impairment of Debt and Debt Write-Offs[6] | $662,229 | $1,041,000 | $841,000 | 841,000 |
| n/a | Impairment of Debt Relating to Child Support | n/a | $60,000 | n/a | n/a |
| n/a | Impairment of Debt Relating to Student Loans | n/a | $139,000 | n/a | n/a |
| n/a | Impairment of debt relating to Small Business Cashflow Scheme COVID-19[7] | $89,000 | $385,000 | n/a | n/a |
| $142,920 | Initial fair value write-down relating to Small Business Cashflow Scheme COVID-19 | $230,069 | $639,000 | $84,000 | $279,000 |
| $468,594 | Initial fair value write-down relating to student loans | $489,063 | $547,000 | $515,000 | $662,000 |
| $7,042,195 | KiwiSaver: employee and employer contributions PLA | $7,928,486 | $7,720,000 | $7,540,000 | $8,480,000 |
| $7,235 | KiwiSaver ex gratia payments | n/a | n/a | n/a | n/a |
| $63,000 | Research and development tax incentive[2] | $472,967 | $473,345 | $453,500 | $472,525 |
| $8,805,586 | Total other expenses | $13,891,131 | $15,261,288 | $9,433,500 | $11,534,525 |
| Capital Expenditure |
|||||
| $297,749 | Small Business Cashflow Scheme COVID-19 | $537,545 | $1,492,000 | $175,000 | $652,000 |
| $297,749 | Total capital expenditure | $537,545 | $1,492,000 | $175,000 | $652,000 |
| $14,020,532 | Total appropriations | $19,145,277 | $21,667,688 | $14,535,900 | $17,466,925 |
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.
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 2022.
1 The revised budget figures for 2021-22 are those included in 'The Supplementary Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2022'.
2 The R&D Tax Incentive has been reclassified from Benefits and other unrequited expenses to Other expenses from May 2021.
3 The Cost of Living payment is a new appropriation commencing in 2022-23.
4 The COVID-19 Resurgence Support Payment was a new appropriation commencing 22 February 2021, but has been replaced with the COVID-19 Support Payment.
5 The COVID-19 Support Payment is a new appropriation commencing 16 February 2022.
6 Impairment of Debt and Debt Write-Offs relates to general tax, Working for Families Tax Credits and KiwiSaver debt.