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Breaking Announcement: Holden to cease manufacturing in Australia by 2017
Topic Started: 11 Dec 2013, 02:50 PM (5,973 Views)
Count du Monet
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One of the factors that did the Romans in. Although the Romans outnumbered the Germans 10 to 1 in population terms by the late forth century their stories of Roman soldiers so badly supplied they didn't have boots. The Germans came down on them with a superior sword made of better steel, Frankish swords verging on world famous during the Dark Ages. The Germans also learning the latest cavalry techniques from the steppes.

By the 5th century the Romans even forgot how to produce concrete. Europe never again surpassing the Early Empires productivity until the 17th century.

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The sophisticated Lorica Segmenta disappearing in the 3rd century AD and replaced by a muscle cuirass of boiled leather. At same time the Germans were becoming more sophisticated developing writing in the 3rd century. They were a world away from the fur clad semi naked Barbarians Caesar had encountered centuries before.

The next trick of our glorious banks will be to charge us a fee for using net bank!!!
You are no longer customer, you are property!!!

Don't be SAUCY with me Bernaisse
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themoops
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Count du Monet
11 Dec 2013, 03:13 PM
I suppose next time we can throw cheese burghers at them.

We'll be hard up getting anyone to fight. Maybe we'd be better off if we did just hand it over to the Chinese dictatorship? :lol

At least they'd build plenty of houses and wouldn't be putting up so much with these nimby specufestor scum. :bye:
stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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zaph
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mel
11 Dec 2013, 03:32 PM
Agreed on all counts.

Silly question: can anyone confirm if redundancy packages are taxed at the normal income tax rate?

When Toyota make their announcement down the track it will make the case even more compelling for rate cuts
Not a silly question at all. Genuine redundancy payments can be tax favoured, but can be complex. A 'payout' often consists of a few different components. Generally it's the x weeks pay for y weeks service that is concessionaly taxed.

Quote:
 
Genuine redundancy and early retirement scheme payments you receive are tax free up to a limit based on your years of service with your employer. The tax-free limit is determined by:
Base amount + (service amount x years of service)
The base amount and service amount are indexed annually.
For the year ended 30 June 2013, the tax-free limit is $8,806 (base amount), plus $4,404 (service amount) multiplied by the years of service. For the year ended 30 June 2014, the base amount is $9,246 and service amount is $4,624.

For example, for 10 years service, the tax-free limit for year ending 30 June 2014 is:
$9,246 + ($4,624 x 10) = $9,246 + $46,240
= $55,486
The amount over the limit will then form part of your ETP.

http://www.ato.gov.au/Individuals/Working/In-detail/Leaving-a-job/Taxation-of-termination-payments/?page=13#Genuine_redundancy


So it can be quite generously taxed.


http://www.ato.gov.au/Individuals/Working/Leaving-a-job/Redundancy-payments/
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Frank Castle
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Business As Usual

mel
11 Dec 2013, 03:32 PM
Silly question: can anyone confirm if redundancy packages are taxed at the normal income tax rate?
If they get them.
Redundancy packages aren't a right or a given in any industry.

Some firms dont even pay super or holiday entitlements.
Edited by Frank Castle, 11 Dec 2013, 03:57 PM.
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The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
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propertymogul
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Frank Castle
11 Dec 2013, 03:56 PM
If they get them.
Redundancy packages aren't a right or a given in any industry.

Some firms dont even pay super or holiday entitlements.
I thought they had to be paid unless your company classifies as a "small business" - check this link http://www.fairwork.gov.au/termination/redundancy/pages/how-much-redundancy-pay.aspx
I think the link has the stat minimum but being a strong union presence I'd imagine their contracts may have better redundancy entitlements than that.

Payment of superannuation is a legal requirement for "ordinary times earnings".
Apart from casual employees, employees are also legally entitled to annual leave and sick leave. Check this link. http://www.fairwork.gov.au/leave/annual-leave/pages/default.aspx
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zaph
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Frank Castle
11 Dec 2013, 03:56 PM
If they get them.
Redundancy packages aren't a right or a given in any industry.

Some firms dont even pay super or holiday entitlements.
With a huge heap of #@$1's they are a right (biggest exemption to the right is employer with less than 15 employees). Of course an employee can't get blood out of a stone if there's no money left - probably a good incentive to take redundancy early if you know the employer is slowly going down. http://www.fairwork.gov.au/termination/redundancy/pages/how-much-redundancy-pay.aspx and higher if the award/agreement says so.

All employers are required to pay super and leave entitlements; of course leave entitlements will change if the employee is casual. Not paying super for a genuine employer is hard to get around.
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Frank Castle
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Business As Usual

propertymogul
11 Dec 2013, 04:03 PM
I thought they had to be paid unless your company classifies as a "small business" - check this link http://www.fairwork.gov.au/termination/redundancy/pages/how-much-redundancy-pay.aspx
You are right

Or bankrupt

Quote:
 

When the employer goes into liquidation or becomes bankrupt
An employee may be entitled to redundancy pay by an employer if their employment is terminated because of the liquidation or bankruptcy of the employer.

In some circumstances, the business may not have enough funds to pay employees’ outstanding termination entitlements, including redundancy pay.

http://www.fairwork.gov.au/termination/redundancy/pages/when-the-employer-goes-into-liquidation-or-becomes-bankrupt.aspx


While the parent US company is fine I wonder if a subsidiary can claim bankruptcy?
Not suggesting they will but it would be interesting.
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zaph
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Frank Castle
11 Dec 2013, 04:11 PM
While the parent US company is fine I wonder if a subsidiary can claim bankruptcy?
Not suggesting they will but it would be interesting.
Given the right set up, yes, absolutely. Big companies usually have the right set up.

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Gossamer
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This decision was always coming once Ford announced their decision to close earlier this year.
Common sense is a curse - those who have it need to suffer dealing with those who don't have it.

APF idiot list
Nelson
Black Panther
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Pig Iron
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Bogan scum

mel
11 Dec 2013, 03:32 PM
Agreed on all counts.

Silly question: can anyone confirm if redundancy packages are taxed at the normal income tax rate?
no it's taxed at 15%
themoops
11 Dec 2013, 03:47 PM
Our IR laws are too strong. This whole "redundancy package" thing, wtf is that? I mean I wouldn't say no to it myself, but it seems a bit precious to me.

How much do these workers get paid anyway?

Anyway, a part of me is glad it's over. I'm pretty sick and tired of pampered industries while others have to stand on their own two feet. And the potential for jingoistic bogan scum has become a lot less. I still say that's why they died.

One down, one more to go - property.
last time we looked i think it was about 85k?

for assembly line work that's huge.

for permanent employees i think redundancies are fair. people enter into a contract with the employer with a guarantee to the employer that they will have them as a permanent worker with no fixed term.

a redundancy is like a break contract fee in that respect.
Edited by Pig Iron, 11 Dec 2013, 04:31 PM.
I am the love child of Tony Abbott and Pauline Hanson
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