5494.0 - Economic Activity of Foreign Owned Businesses in Australia, 2014-15
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 13/08/2018
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GLOSSARY
The ABN is the statistical unit used to represent businesses, and for which statistics are reported, in most cases. The ABN unit is the business unit which has registered for an ABN, and thus appears on the Australian Taxation Office (ATO) administered Australian Business Register (ABR). In most cases, the ABN unit represents the legal entity. This unit is suitable for ABS statistical needs when the business is simple in structure. For more significant and diverse businesses where the ABN unit is not suitable for ABS statistical needs, the statistical unit used is the Type of Activity Unit (TAU). Business size Businesses are categorised as:
Capital expenditure Total (gross) expenditure on acquiring fixed tangible and intangible assets, before deduction of trade-in allowances, and including expenses (except capitalised interest) incurred during the year in acquiring such assets. Fixed tangible assets include land, dwellings, other buildings and structures, plant, machinery and equipment (including motor vehicles). Intangible assets include capitalised exploration expenditure, patents, licences and goodwill. Compensation of employees The total salary, wage and other labour costs incurred by a business. In the case of companies, it includes remuneration of directors as per payment summaries. In the case of partnerships, it includes salary, wage and other labour costs paid or payable to persons employed in the business of the partnerships. Contractors & Commissions Payments to other businesses and self-employed persons for work done or sales made on a contract or commission basis. Payments to persons paid by commission without a retainer are also included. Employment Number of persons working for businesses during the last pay period ending in June of the given year. Includes working proprietors and partners, employees absent on paid or prepaid leave, employees on workers' compensation who continue to be paid through the payroll, and contract workers paid through the payroll. Exports of goods and services The value of goods exported and amounts receivable from non-residents for the provisions of services by residents. Foreign Ownership Indicates the proportion of which a business is foreign owned based on the level of foreign share reported on the Business Income Tax (BIT) form. Foreign Owned Business Foreign ownership is defined as enterprises where majority voting power (greater than 50%) is held by a single direct foreign investor or by a group of associated investors acting in concert. For the purpose of this publication, foreign owner is determined as any business with a reported foreign share of greater than 50%. Industry division The structure of ANZSIC comprises four levels, ranging from industry division (broadest level) to industry class (finest level). The main purpose of the industry division level is to provide a limited number of categories which give a broad overall picture of the economy. There are 19 divisions within ANZSIC; each identified by an alphabetical letter, that is, 'A' for Agriculture, forestry and fishing, 'B' for Mining, 'C' for Manufacturing, etc. Industry value added (IVA) IVA is an estimate of the difference between the market value of the output of an industry and the purchases of materials and expenses incurred in the production of that output. For market producers, the derivation of IVA is as follows:
Industry value added is related to, but different from, the national accounting variable gross value added (GVA). For national accounts purposes, GVA is calculated by adjusting IVA produced from the Economic Activity Survey (EAS) to include General government units and also to account for some other effects, such as inventory holding adjustments and adjustments for financial intermediary services, insurance services, and prices, taxes and subsidies. Non-profiled population One of two business populations of the ABSBR. The vast majority of businesses are in the non-profiled population. These businesses have simple structures and the unit registered for an ABN satisfies ABS statistical requirements. As such, one ABN equates to one business. Operating business For the purposes of the Economic Activity of Australian Businesses in Australia publication, a business is defined as 'a legal entity engaging in productive activity and/or other forms of economic activity. Such entities accumulate assets on their own account and/or hold assets on behalf of others, and may incur liabilities. Excluded are the economic activities of individuals (except where individuals engage in productive activity either as sole traders or in partnership) and entities mainly engaged in hobby activities'. For more information on the ABS definition of a business, users should refer to Information Paper: A Statistical View of Counts of Businesses in Australia (cat. no. 8162.0). In line with this definition, the business counts in this publication are derived from the ABSBR. The statistical unit referred to as a 'business' consists of ABNs from the non-profiled population and TAUs from the profiled population. Operating profit before tax Profit prior to the deduction of income tax and depreciation and amortisation. Profiled Population One of two business populations of the ABSBR. This population is comprised of a relatively small number of businesses who have a large, complex structure and the ABN unit is not suitable for ABS statistical purposes. As such, the ABS maintains its own unit structure through direct contact with these businesses. In the profiled population, a type of activity unit (TAU) equates to one business. Profit after tax Profit after tax is the operating profit of the business less the tax owed on taxable income. Sales of goods and services The sales of goods and services relates to income derived expressly from the exchange of goods and services for consideration between two or more parties. This excludes income indirectly derived from other sources, such as government payments or interest income. Taxable profit The total amount of income used to calculate the end of financial year tax liability for each business. The number is based on total business income less costs and all deductions. Total Assets Store of value over which ownership rights are enforced by institutional units, individually or collectively, and from which economic benefits may be derived by their owners by holding them, or using them, over a period of time (the economic benefits consist of primary incomes derived from the use of the asset and the value, including possible holding gains/losses, that could be realised by disposing of the asset or terminating it). Total liabilities Is an obligation which requires one unit (the debtor) to make a payment or a series of payments to the other unit (the creditor) in certain circumstances specified in a contract between the two parties. Total operating expenses Total of all costs expenses not directly related to the production and sale of outputs. I.e. Total expenses less the cost of goods sold. Type of Activity Unit (TAU) The TAU, residing in the profiled population, is comprised of one or more business entities, sub entities or branches of a business entity within an enterprise group that can report production and employment data for similar economic activities when a minimum set of data items are available. Document Selection These documents will be presented in a new window.
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