CHANGES IN THIS AND FORTHCOMING ISSUES
CHANGES TO OVERSEAS ARRIVALS AND DEPARTURES DATA AND THE IMPACT ON COMPENSATION OF EMPLOYEES
The September quarter 2017 estimates for the 'Primary Income Credits, Compensation of employees' series reflects a new methodology developed following cessation of the outgoing passenger card, as foreshadowed in the September 2017 issue of Overseas Arrival and Departures, Australia (cat. no. 3401.0).
WITHHOLDING TAXES
The royalties withholding tax series have been removed from the primary income account and moved to the secondary income account. The royalties withholding tax are now contained in 'Secondary Income Credits, General government' and 'Secondary Income Debits, Other sectors, Other current transfers, Other' series within tables 10 and 11 respectively. This has resulted in revisions from the September quarter 1959.
ANNUAL SEASONAL RE-ANALYSIS
The seasonally adjusted and trend estimates of goods, services, primary income and secondary income have been revised as a result of the annual seasonal re-analysis. This re-analysis reviews the seasonal and trading day factors in more detail than is possible in the quarterly processing cycle and assesses the appropriateness of any prior corrections.
NEW BASE YEAR AND RE-REFERENCING OF CHAIN VOLUME ESTIMATES, IMPLICIT PRICE DEFLATORS AND TERMS OF TRADE INDEXES
A new base year 2015-16 has been introduced into chain volume estimates, implicit price deflators, chain Laspeyres price and terms of trade indexes. These series have been re-referenced to 2015-16. Additivity has been preserved in the quarters subsequent to the new reference year as well as the annual sum of the quarters in the reference year. Re-referencing affects the levels, but not the movements of chain volume estimates, implicit price deflators and terms of trade indexes.
SELECTED INTERNATIONAL ACCOUNTS RATIOS - TABLE 23
The updated annual GDP and GNI benchmarks released in the Australian System of National Accounts, 2016-17 (cat. no. 5204.0) on 27 October 2017 will be revised and incorporated into the quarterly national accounts with the September quarter 2017 issue of Australian National Accounts: National Income Expenditure and Product (cat. no. 5206.0) to be released on 6 December 2017. The revised benchmarks will change the level of the quarterly and annual GDP and GNI used in the ratios for table 23 of this publication. As the ratios using the currently available GDP and GNI would be inconsistent with the revised data, they have been suppressed in this issue. Table 23 in the time series spreadsheets released in conjunction with this publication will be updated with the release of the quarterly Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0) on 6 December 2017.
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