| Vote: Revenue | Actual 2023 ($000) | Actual 2024 ($000) |
Unaudited revised budget1 2024 ($000) | Unaudited budget 2024 ($000) | Unaudited forecast 20252 ($000) |
|---|---|---|---|---|---|
| Benefits and other unrequited expenses |
|||||
| Best Start Tax Credit PLA | $321,341 |
$336,108 | $340,000 | $339,000 | $339,000 |
| Child Support Payments PLA2 | $293,961 |
$413,390 | $432,000 | $466,000 | $453,000 |
| FamilyBoost Tax Credit PLA3 | - | - | - | - | $174,000 |
| Family Tax Credit PLA | $2,151,179 |
$2,296,578 |
$2,281,000 | $2,284,000 | $2,316,000 |
| In-Work Tax Credit PLA | $464,036 |
$436,964 |
$449,000 | $477,000 | $582,000 |
| KiwiSaver: Interest | $932 |
$2,841 |
$3,000 | $1,000 | $2,500 |
| KiwiSaver: Tax Credit | $995,699 |
$1,011,371 |
$1,068,000 | $1,093,000 | $1,101,000 |
| Minimum Family Tax Credit PLA | $12,324 |
$11,467 |
$12,000 | $12,000 | $12,000 |
| Paid Parental Leave Payments | $607,952 |
$647,296 | $655,000 | $677,000 | $685,000 |
| Total benefits or related expenses | $4,847,424 | $5,156,015 | $5,240,000 | $5,349,000 | $5,664,500 |
| Borrowing expenses |
|||||
| Environmental Restoration Account Interest PLA | $1,912 | $4,185 |
$4,300 |
$2,100 | $4,300 |
| Income Equalisation Interest PLA | $8,403 | $8,602 |
$10,000 |
$9,000 | $7,000 |
| Total borrowing expenses | $10,315 | $12,787 |
$14,300 |
$11,100 | $11,300 |
| Other expenses |
|||||
| Cost of Living payment4 | $599,986 | - | - | - | - |
| COVID-19 Resurgence Support Payment5 | - | - | $50 | - | - |
| COVID-19 Support Payment6 | - | $90 | $160 | - | - |
| Impairment of Debt and Debt Write-Offs7 | $1,467,609 |
$2,375,843 | $1,900,000 | $931,000 | $1,676,000 |
| Impairment of Debt and Debt Write-Offs Relating to Child Support | $6,476 | $20,000 | - | - | |
| Impairment of Debt Relating to Student Loans | - | - | $20,000 | - | - |
| Impairment of debt relating to the SBCS7 | - | $37,693 | $50,000 | - | - |
| Initial Fair Value Write-Down Relating to the Small Business Cashflow Scheme COVID-19 | $53,926 |
- | $2,000 | $28,000 | - |
| Initial Fair Value Write-Down Relating to Student Loans | $550,743 |
$544,076 | $559,000 | $640,000 | $633,000 |
| KiwiSaver: Employee and Employer Contributions PLA2 | $8,777,434 |
$9,423,573 | $9,470,000 | $9,770,000 | $10,220,000 |
| Research, Science and Innovation: R&D Tax Incentive9 | $63,897 |
$316,958 | $461,334 | $535,334 | $556,168 |
| Total other expenses | $11,520,071 |
$12,698,233 | $12,462,544 | $11,904,334 | $13,085,168 |
| Capital expenditure |
|||||
| Small Business Cashflow Scheme COVID-19 | $100,105 |
$65 | $5,000 | $60,000 | - |
| Total capital expenditure | $100,105 | $65 | $5,000 | $60,000 | - |
| Total appropriations | $16,477,915 |
$17,867,100 | $17,721,844 | $17,324,434 | $18,760,968 |
1 The revised budget figures for 2023-24 are those included in The Supplementary Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2024.
2 These appropriations are pass-through transactions and do not get recorded in the Schedule of Non-departmental Expenditure.
3 The FamilyBoost appropriation was introduced as part of Budget 2024 and commenced 1 July 2024.
4 The Cost of Living payment appropriation was in place for 2022–23 only.
5 The expenditure for the COVID-19 Resurgence Support Payment appropriation mainly occurred in 2021–22. Current year actual expenditure of $400 reflects additional final claims incurred in 2023–24.
6 The expenditure for the COVID-19 Support Payment appropriation mainly occurred in 2021–22. Current year actual expenditure reflects additional final claims incurred in 2023–24.
7 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).
8 Refers to the Small Business Cashflow Scheme COVID-19.
9 Due to the change in the title of the Minister responsible for the R&D Tax Incentive, this appropriation was renamed during the year from Research, Science and Innovation: R&D Tax Incentive to Science, Innovation and Technology: R&D Tax Incentive, effective from 1 July 2024.
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 15D 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 2024–25 are those included in The Estimates of Appropriations for the Government of New Zealand for the Year Ending 30 June 2025.
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 2024.