The experimental Monthly Business Turnover Indicator is derived by the Australian Bureau of Statistics (ABS) using Australian Taxation Office (ATO) Business Activity Statement (BAS) turnover data from monthly BAS remitters. As businesses with GST annual turnover of $20 million or more are required to remit monthly, the majority of turnover for most industries is contributed by monthly remitters.
The ABS transforms the BAS data in order to derive the Monthly Business Turnover Indicator. As BAS data is not collected for statistical purposes, its scope varies from Australian National Accounts concepts of income and production. The transformation of the BAS data aligns the measured monthly change in turnover as closely as is feasible to the Australian System of National Accounts concept of market output.
The Monthly Business Turnover indicator builds on the proof-of-concept development work outlined in an information paper released in June 2021. The information paper explored the potential use of BAS data to develop an indicator of business turnover, including proposed concepts, frameworks, data sources, and initial quality assessments. The indicator should be considered experimental at this stage, as further enhancements to the transformation processes (i.e. methodology) are expected in the future.
The ABS would like to acknowledge the vital support from the ATO in enabling the ABS to produce this indicator.