Glossary of terms

Active compliance

Activities we initiate to encourage taxpayers to comply with their taxation and superannuation obligations.

Australian national accounts

Economic statistics produced by the ABS on income, expenditure and production in the economy.


Being in accordance with established legislation and the intent of taxation law.

Economic Transaction Method/accrual revenue

Revenue based on the economic transaction method reflect the GST liabilities for BAS associated with the period in which an economic activity actually occurred. The estimates facilitate comparison with economic events in the same period. ETM estimates are also referred to as 'accrual revenue' in this document.

Gross domestic product

The totalExternal Linkmarket valueExternal Link of goodsExternal Link and servicesExternal Link produced in a country in a given year net of the cost of goods and services used to produce those goods and services (excluding fixed capital).

Luxury car tax payable

The amount of luxury car tax payable by taxpayers at label 1E of the BAS.

Non-observed economy

National accounts data makes a small allowance for expenditure associated with the underground economy (cash economy transactions, transactions relating to other avoidance measures, and understatement of income in ABS surveys).

Running account balance

ATO integrated payment system

Theoretical tax liability/revenue

Expected GST accrual revenue in a period based on external consumption data, that should be reported if all businesses complied with their GST reporting obligations.

    Last modified: 13 Nov 2015QC 26611