Inland Revenue (IR) administered tax revenue and net Customs GST in the year to June 2024 totalled $127.8 billion, an increase of 7.9% since the year to June 2023.
Between 2002 and 2024, total IR tax revenue and Customs GST has grown by 260% from $35.5 billion in the year to June 2002 to $127.8 billion in the year to June 2024. Growth has occurred in:
- Net GST from both administering agencies, which was up 292% from $10.6 billion in the year to June 2002 to $41.7 billion in the year to June 2024.
- Taxes on companies, up 292% from $5.4 billion in the year to June 2002 to $21.2 billion in the year to June 2024.
- Taxes on individuals, up 236% from $19.1 billion in the year to June 2002 to $64.4 billion in the year to June 2024.
- Duties and other revenue, up 81% from $0.3 billion in the year to June 2002 to $0.5 billion in the year to June 2024.
Last updated:
05 Nov 2024