Transcript NON-PROFIT INSTITUTIONS SERVING HOUSEHOLDS IN THE CANADIAN SYSTEM OF NATIONAL ACCOUNTS May 2014 Canadian System of National Accounts Institutional Sectors  Under 1993 SNA • Persons and.

NON-PROFIT INSTITUTIONS
SERVING HOUSEHOLDS IN THE
CANADIAN SYSTEM OF NATIONAL
ACCOUNTS
May 2014
Canadian System of National Accounts
Institutional Sectors
 Under 1993 SNA
• Persons and Unincorporated Businesses
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Households
Non-profit Institutions Serving Households
Aboriginal General Government
Quasi-corporations
Some Financial Corporations
• Corporations
• Government
 Federal Government
 Provincial and Territorial Governments
 Local Governments
• Non-Residents
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Canadian System of National Accounts
Institutional Sectors
 Under 2008 SNA
• Households
 Some quasi-corporations
 Some investment funds
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Non-profit Institutions Serving Households
Financial Corporations
Non-Financial Corporations
General Government
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Federal General Government
Provincial and Territorial General Governments
Local General Governments
Aboriginal General Government
• Non-Residents
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Non-profit Institutions Serving Households
Gross Domestic Product
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Non-profit Institutions Serving Households
Current and Capital Accounts
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Non-profit Institutions Serving Households
Balance Sheet
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Canadian System of National Accounts
Data Sources
 In Canada, there is no single comprehensive source of administrative
data on non-profit institutions serving households from which an entire
sequence of accounts can be constructed. Rather, they are
identifiable in a range of data files, none of which is exhaustive. These
files include:
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The Registered Charity Information Return (T3010);
Non-profit Organisation Information Return (T1044);
Summary of Remuneration Paid (T4 Summary and Supplementary)
Income Tax and Benefit Return (T1)
Tax-exempt corporations (from T2 Corporate Income Tax returns and the
Generalized Index of Financial Information); and
Public sector bodies eligible for rebates under the Goods and Services Tax system
(the GST Public Sector Bodies Rebate File).
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Canadian System of National Accounts
Data Sources – T3010 (Charities File)
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Canadian System of National Accounts
Data Sources – T3010 (Charities File)
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Canadian System of National Accounts
Data Sources – T1044 (NPO File)
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Canadian System of National Accounts
Counterparty Data Sources
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In a number of specific cases, either for particular variables or key segments of the nonprofit universe, alternate data sources are available. The most significant cases are
summarized below. As a general rule, elements of the NPISH account not listed here are
estimated using the non-profit tax records described above.
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Transfers (gifts) from households to NPISH: The tax-receipted portion of household transfers
is built from the point of view of the payer, using tax returns of individuals (the T1 data file) while
the non-tax receipted portion is based on non-profit tax filer information.
Transfers from governments to NPISH: These are built from the point of view of the payer,
using federal and provincial public accounts information, surveys of municipalities, and financial
statements of government special funds and government agencies.
Transfers from corporations to NPISH: These are based on corporate donations recorded on
T2 corporate tax returns. It is important to note that only amounts recorded as corporate
donations are included and any support to non-profit institutions that is recorded as a business
expense is excluded as it cannot be separately identified.
Trade unions dues: Trade union dues are reported on the T4 Statement of Remuneration and
Benefits.
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Canadian System of National Accounts
Data Sources – Quarterly Data
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There is very little quarterly information available for non-profit institutions serving
households.
Most of the quarterly movements and estimates rely on monthly wage and salary
information obtained from Statistics Canada’s monthly Survey of Employment,
Payrolls and Hours. This survey provides information on wages and employment by
industry. Given that the main expenditure category for NPISH is wages, this provides
a good estimate of the quarterly expenditure movement.
Quarterly information on transfers from government to NPISH is available from
government accounting records. Property income flows, both paid and received, are
modeled along with transfers from households to NPISH and from NPISH to
households.
Quarterly financial flow and balance sheet information are derived by dividing the
annual values by 4 and projecting the benchmark series using the same model used
to derive the property income flows.
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Some Results
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Mar-81
Jan-82
Nov-82
Sep-83
Jul-84
May-85
Mar-86
Jan-87
Nov-87
Sep-88
Jul-89
May-90
Mar-91
Jan-92
Nov-92
Sep-93
Jul-94
May-95
Mar-96
Jan-97
Nov-97
Sep-98
Jul-99
May-00
Mar-01
Jan-02
Nov-02
Sep-03
Jul-04
May-05
Mar-06
Jan-07
Nov-07
Sep-08
Jul-09
May-10
Mar-11
Jan-12
Nov-12
Sep-13
Figure 1. Non-profit institutions serving households’ final consumption
expenditure as a share of gross domestic product
NPISH FCE as % GDP
1.6
1.5
1.4
1.3
1.2
1.1
1.0
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Figure 2. Growth in real expenditures, NPISH, general government and gross
domestic product (1998=100)
Growth in real expenditures
150
140
130
120
110
100
GDP (1998=100)
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GFCE (1998=100)
Mar-13
Aug-13
Oct-12
May-12
Dec-11
Jul-11
Feb-11
Sep-10
Apr-10
Jun-09
Nov-09
Jan-09
Aug-08
Mar-08
Oct-07
May-07
Dec-06
Jul-06
Feb-06
Apr-05
Sep-05
Nov-04
Jun-04
Jan-04
Aug-03
Mar-03
Oct-02
May-02
Dec-01
Jul-01
Feb-01
Sep-00
Apr-00
Nov-99
Jun-99
Jan-99
Aug-98
Mar-98
90
NPISH FCE (1998-100)
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Mar-81
Dec-81
Sep-82
Jun-83
Mar-84
Dec-84
Sep-85
Jun-86
Mar-87
Dec-87
Sep-88
Jun-89
Mar-90
Dec-90
Sep-91
Jun-92
Mar-93
Dec-93
Sep-94
Jun-95
Mar-96
Dec-96
Sep-97
Jun-98
Mar-99
Dec-99
Sep-00
Jun-01
Mar-02
Dec-02
Sep-03
Jun-04
Mar-05
Dec-05
Sep-06
Jun-07
Mar-08
Dec-08
Sep-09
Jun-10
Mar-11
Dec-11
Sep-12
Jun-13
Figure 3. Current transfers as a share of total income
Current transfers as a share of total income
94%
93%
92%
91%
90%
89%
88%
87%
86%
85%
84%
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Mar-81
Dec-81
Sep-82
Jun-83
Mar-84
Dec-84
Sep-85
Jun-86
Mar-87
Dec-87
Sep-88
Jun-89
Mar-90
Dec-90
Sep-91
Jun-92
Mar-93
Dec-93
Sep-94
Jun-95
Mar-96
Dec-96
Sep-97
Jun-98
Mar-99
Dec-99
Sep-00
Jun-01
Mar-02
Dec-02
Sep-03
Jun-04
Mar-05
Dec-05
Sep-06
Jun-07
Mar-08
Dec-08
Sep-09
Jun-10
Mar-11
Dec-11
Sep-12
Jun-13
Figure 4. Current transfers by source – NPISH
Source of current transfers
65%
60%
55%
50%
45%
40%
35%
30%
25%
20%
% share of current transfers from households
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% share of current transfers from government
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Figure 5. NPISH saving, net lending and non-financial capital acquisitions
NPISH saving, net lending and non-financial capital acquisitions
$millions
7000
6000
5000
4000
3000
2000
1000
0
-1000
Mar-81
Dec-81
Sep-82
Jun-83
Mar-84
Dec-84
Sep-85
Jun-86
Mar-87
Dec-87
Sep-88
Jun-89
Mar-90
Dec-90
Sep-91
Jun-92
Mar-93
Dec-93
Sep-94
Jun-95
Mar-96
Dec-96
Sep-97
Jun-98
Mar-99
Dec-99
Sep-00
Jun-01
Mar-02
Dec-02
Sep-03
Jun-04
Mar-05
Dec-05
Sep-06
Jun-07
Mar-08
Dec-08
Sep-09
Jun-10
Mar-11
Dec-11
Sep-12
Jun-13
-2000
NPISH savings
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NPISH net lending
NPISH non-financial capital acquisition
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Financial assets as a % of total assets
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Jul-13
Dec-12
May-12
Oct-11
Mar-11
Aug-10
Jan-10
Jun-09
Nov-08
Apr-08
Sep-07
Feb-07
Jul-06
Dec-05
May-05
Oct-04
Mar-04
Aug-03
Jan-03
Jun-02
Nov-01
Apr-01
Sep-00
Feb-00
Jul-99
Dec-98
May-98
Oct-97
Mar-97
Aug-96
Jan-96
Jun-95
Nov-94
Apr-94
Sep-93
Feb-93
Jul-92
Dec-91
May-91
Oct-90
Mar-90
Figure 6. Composition of NPISH assets
Composition of NPISH assets
80%
70%
60%
50%
40%
30%
20%
Non-financial assets as a % of total assets
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Nov-13
Jun-13
Jan-13
Aug-12
Mar-12
Oct-11
May-11
Dec-10
Jul-10
Feb-10
Sep-09
Apr-09
Nov-08
Jun-08
Jan-08
Aug-07
Mar-07
Oct-06
May-06
Dec-05
Jul-05
Feb-05
Sep-04
Apr-04
Nov-03
Jun-03
Jan-03
Aug-02
Mar-02
Oct-01
May-01
Dec-00
Jul-00
Feb-00
Sep-99
Apr-99
Nov-98
Jun-98
Jan-98
Aug-97
Mar-97
Figure 7. Net financial assets as a share of net worth – NPISH
Net financial asset share of net worth
NPISH
70%
60%
50%
40%
30%
20%
10%
0%
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Benefits
• The inclusion of a NPISH sector in the Canadian System of National Accounts
has been a major step forward in our understanding of the important
contribution of this sector to the Canadian economy.
• The notable accomplishments in compiling this account include the fact that the
entire set of source data are taken from administrative tax data records
supplied by the Canadian Revenue Agency.
• While much of the source data only go back to 1997, Statistics Canada was
able to push the time series back to 1981, using a series of modeling and proxy
data sources.
• In addition to providing a measure of the NPISH economic activity, the CSNA
also have a clearer picture of the Canadian household sector—an added
benefit of this exercise.
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Next Steps
• The CSNA will continue to work towards improving the overall quality of the
NPISH sector account. Work needs to be done in improving the process for
delineating the NPISH universe for all survey programs within Statistics
Canada, so that NPISH organizations can be easily identified on survey files.
• Also, the mapping of NPISH expenditure data on the Classification of the
Purposes of Non-profit Institutions serving households (COPNI) basis is
necessary in order to provide more accurate measures of household actual
consumption expenditure.
• Finally, improvements can be made in identifying, in more detail, the assets
and liabilities of NPISH organizations within the CSNA financial account and
balance sheet.
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