CHANGES IN FORTHCOMING ISSUES
PERSONS CHANGING RESIDENCY
Estimates of the assets and liabilities of persons changing residency (migrants) permanently were included in the Balance of Payments and International Investment Position as part of the introduction of BPM6 in the September quarter 2009 issue of this publication. At that time data sources and a methodology to estimate the assets and liabilities of persons changing residency long-term (but not permanently) were not available. Data sources and methodologies have now been developed for long-term migrants, and methodologies for permanent migrants have been improved and will be included from the June quarter 2013 issue of this publication. This will result in revisions for periods back to September quarter 1988. These revisions will impact the financial account, primary income, secondary income, and international investment position.
WITHHOLDING TAXES
From the June quarter 2013 issue of this publication, changes to the model used to derive withholding taxes as part of the secondary income account will be applied. The model has been reviewed and updated to include an indicator series which will account for changes in the parameters of the model such as withholding tax rates for different countries. As a result, there will be minor changes to the existing tax rate used within the model and revised estimates of withholding taxes. Existing source data and the underlying methodology remain unchanged. These revisions will be applied from September quarter 2001 when modelled data was initially implemented.
Further to these revisions, the royalties withholding tax series will be removed from the secondary income account and classified as other taxes on production and imports within the primary income account, in line with international standards. This will result in revisions from December quarter 1959. The new series will be included in a mock-up of the primary income tables 20 and 21 and new series IDs will be available on the ABS website as additional information to this issue on 6 August 2013.