House debates Questions in Writing
Accommodation and Food Services: Depreciation Expenses (Question No. 386)
Bob Baldwin Paterson, Liberal Party, Shadow Minister for Tourism
asked the Treasurer, in writing, on 25 May 2011:
What was the total value of depreciation expenses in the accommodation and food services industry for (a) 2009-10, (b) 2008-09, (c) 2007-08, (d) 2006-07, and (e) 2005-06.
Wayne Swan Lilley, Australian Labor Party, Treasurer
The answer to the honourable member's question is as follows:
The total value of depreciation expenses is as follows:
Table 1: Consumption of Fixed Capital by the Accommodation and Food Services Industry (chain volume measure, $ millions)
Source: ABS Cat. No. 5204.0
The table shows the consumption of fixed capital, or economic depreciation. The ABS defines economic depreciation as the difference between the real economic value of the asset at the beginning of the period and at the end of the period (Australian System of National Accounts, Concepts Sources and Methods, ABS, 2000). Therefore the data may not reflect actual depreciation 'expenses' (book value).