Annual Benchmarks of Net Income of Unincorporated Business
Annual Benchmarks of Net Income of Unincorporated Business
Purpose: To improve the accuracy of Gross Domestic Product (GDP) estimates by producing North American Industrial Classification System (NAICS) based estimates of annual benchmarks by province and industry of net income of unincorporated business. These benchmarks are incorporated into the input-output tables, which provide a measure of GDP, by industry. They are also used to project quarterly estimates of net income of unincorporated business; a component of income based GDP, by industry.
Description: Industry estimates derived from the tax data were based on the 1980 Standard Industrial Classification System (SIC80). The industry code was either self assigned by the tax filer (based on a list of possible codes provided in the T1 Tax Guide), or assigned at Canada Customs and Revenue Agency (CCRA) based on the response to the question "Main Product or Service", which appears on the Selected Financial Data Statements (SFD). The introduction of the North American Industrial Classification System (NAICS), for reference year 1997, necessitated the need to convert the CCRA T1 tax data from SIC80 to NAICS. This required the linkage of T1 records reporting net income from self-employment to the T1/Business Number (BN) linkage file to obtain the Business Number for the unincorporated businesses. The BN was then linked to the Business Register to obtain the six digit NAICS code.
Output: Only aggregate data conforming to the confidentiality provisions of the Statistics Act are released from this file outside of Statistics Canada. No identifiers are retained on the linked file which is used for benchmarking purposes. The linked files without identifiers are retained indefinitely.