Annual Enterprise Survey 2012

Effect of the 2010/11 Canterbury and Christchurch earthquakes on 2011 and 2012 data Large earthquakes occurred in Canterbury and Christchurch in September 2010 and February 2011. These earthquakes and their aftershocks had a significant influence on the ongoing economic output of businesses located in Christchurch. We saw continuing financial effects of these earthquakes in the 2012 financial results for the central government and the general insurance industries as claims continue to be settled. We are likely to see payments affecting these industries in future years. Use of Charities Commission data in 2012 To continue to reduce respondent load, in the 2012 financial year the AES sourced more data from the Charities Commission. In 2012, we sourced 1,849 units from the Charities Commission, compared with 1,519 in 2011. We first used Charities Commission data in 2011. Use of administrative data and its effect on published variables Our main administrative data source (Inland Revenue's IR10) is the primary source for capturing the agriculture, forestry, and fishing division (ANZSIC06 division A) in the AES. In 2012 we used more administrative data for other industries as well. IR10 data does not provide direct estimates of additions and disposals of fixed assets, so we use modelling to calculate these. The modelling of IR10 data is currently under review, so additions and disposals of fixed assets have been suppressed from the 'all industries' table, all agricultural industries, and the accommodation industry tables in this release. Our increased use of administrative data in 2012 has also caused discontinuity in shareholders' funds and owners' equity in the repairs and maintenance industry, and the accommodation industry. Changes in depreciation legislation On 1 April 2011 a new tax law was introduced that affected depreciation of buildings. This changed the depreciation rate to zero percent for most buildings with an expected life of 50 years or more. The effect of the law change is primarily seen in this release in the rental, hiring, and real estate services industry, which had a very strong $983 million (37.4 percent) decrease in depreciation in 2012. It was also the main contributor to the decrease in depreciation across all industries in the 2012 financial period (down $1,284 million or 5.9 percent). en-NZ