Acquisitions less disposals of non-produced non-financial assets

Introduction

14.106    Acquisitions less disposals of non-produced non-financial assets cover three distinct types of non-produced non-financial assets: natural resources, contracts; leases and licences; and goodwill and marketing assets. At present, estimates of the value of purchased goodwill and marketing assets are not compiled for the ASNA.

14.107    Natural resources include the purchases less sales of land, mineral and energy resources, non-cultivated biological resources, water resources and radio spectra. Land is defined to include the soil covering and associated surface water over which ownership rights can be enforced and from which economic benefits can be derived by their owners. Mineral and energy resources consist of known deposits of coal, oil, gas or other fuels and metallic ores, and non-metallic minerals, etc., that are located below or on the earth's surface, including deposits under the sea. Non-cultivated biological resources consist of animals, birds, fish and plants that yield both once-only and repeat products over which ownership rights are enforced but for which natural growth or regeneration is not under the direct control, responsibility and management of institutional units. Water resources are not included in the ASNA given the data limitations. 2008 SNA states that radio spectra should also be included in natural resources.

14.108    In principle, where transactions in residential and non-residential buildings occur, the land component should be reported separately from the building component. However, in practice, the total sales value is recorded as GFCF. The value of transfer costs involved in the transaction (such as stamp duties, agents' commissions and lawyers' fees) is included in GFCF.

14.109    Contracts, leases and licences includes marketable operating leases, permits to use natural resources, permits to undertake specific activities and entitlement to future goods and services on an exclusive basis. The ASNA includes permits to use natural resources only and the item included is spectrum licences.

14.110    Due of the lack of data, estimates for the purchase of natural resources, and contracts, leases and licences (net) in the ASNA represent only those transactions identified in the accounts of non-residents, general government and public corporations. The net purchases of natural resources, and contracts, leases and licences by non-residents, general government units and public corporations are assumed to equal the net amount of such sales by private corporations, and no entry is shown for households.

Sources and methods - Annual

14.111    The table below outlines the data sources and methods used in the estimation of annual acquisitions less disposals of non-produced non-financial assets by sector in current prices only. Volume estimates are not calculated for acquisitions less disposals of non-produced non-financial assets.

Table 14.7 Annual capital — Acquisitions less disposals of non-produced non-financial assets
ItemComment
Non-residents
 Estimates are sourced directly from Balance of Payments statistics.
General government
 

Estimates for General Government are sourced from the Government Finance Statistics.  Data are derived from administrative sources such as the Commonwealth Department of Finance State government treasuries   and the financial statements of public universities. 

For local government, a joint ABS/Commonwealth Grants Commission annual return is collected from each local government authority. 

Public corporations 
 

Estimates for public non-financial corporations are sourced from Government Finance Statistics and compiled from annual financial statements and Auditors'-General Reports. 

Estimates for Public Financial Corporation from 2011 and prior is compiled based on the Economic Activity Survey. Post 2011 estimates have been discontinued due to the level of significance.  

Households
 Household acquisitions less disposals of non-produced non-financial assets are derived by identifying known transactions between the general government sector and household sector using data from Government Finance Statistics.
Private non-financial corporations
 Derived as the difference between the total acquisitions less disposals of non-produced non-financial assets for non-residents, general government, public non-financial corporations and households.
Private financial corporations
 Not compiled due to the lack of data available.

Sources and methods - Quarterly

14.112    Quarterly estimates for the acquisitions less disposals of non-produced non-financial assets are published at the national level and in the external account in the ABS publication, Australian National Accounts: National Income, Expenditure and Product. The sectoral dimension is published in the ABS publication, Australian National Accounts:  Finance and Wealth.

14.113    The table below outlines the data sources and methods used in the estimation of quarterly acquisitions less disposals of non-produced non-financial assets by sector in current prices only. Volume estimates are not calculated for acquisitions less disposals of non-produced non-financial assets.

Table 14.8 Quarterly capital — Acquisitions less disposals of non-produced non-financial assets
ItemCommnet
Non-residents
 An estimate of acquisitions less disposals of non-produced non-financial assets by non-residents is sourced directly from Balance of Payments statistics. The data included is for leases and the radio spectrum only.
Public sector
 Quarterly estimates of public sector acquisitions less disposals of non-produced non-financial assets are sourced from Government Finance Statistics. Data are derived from administrative sources such as the Commonwealth Department of Finance State government treasuries, ,  quarterly surveys of local government authorities, public non-financial corporations, and public universities.
Households
 Household acquisitions less disposals of non-produced non-financial assets are derived by identifying known transactions between the general government sector and household sector using data from Government Finance Statistics.
Private non-financial corporations
 Quarterly estimates of private non-financial corporations acquisitions less disposals of non-produced non-financial assets are derived residually, as the difference between the total acquisitions less disposals of non-produced non-financial assets for non-residents, general government, public non-financial corporations and households.
Private financial corporations
 Not compiled due to the lack of data available.