I put this on the Toyota thread - but it probably fits better here
Sometimes there is a difference b/w management accounting and financial accounting. Sometimes it is connected to national pride. Sometimes there are national defense concerns. Sometimes because they think the industry can survive long term and is just going through a glitch.
Holden doesn't really fit any of these - maybe a bit of national pride.
If the Australian car industry was to survive, they need to either export overseas, or arrange for old cars to be taken off the road. The market for second hand cars in Oz is ridiculous. I don't know anywhere where you can pay so much for a second hand car. They also need to make something unique that the world needs - like mazda with the mx5 - renault with the small people mover, VW with the small sedan. All these companies found a niche in the market and are successful because of it.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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.
Not sure that in the great scheme of things it is terrible, but I certainly share your compassion with the workers. A fair swag of them will never find another job.
I won't mourn the passing of the carmakers. The monetary and regulatory support of them has meant that Aussies pay money in order to be able to have more expensive and lower quality cars and are forced to get rid of them long before their useful life is over, which is waste on top of profligacy.
But I will mourn the capability and expertise that will be lost in the component industry. Some of our component makers are world-class and they will go down the drain as well.
The truth will set you free. But first, it will piss you off. --Gloria Steinem AREPS™
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 sure on the exact amounts Mel but I remember it being tax free on the first $5000 per year of service, so if you earn $1500 per week and get 3 weeks per year redundancy it would be tax free.
If you get $1500 per week and get 4 weeks redundancy per year you would pay some tax on the $1000 per year over the $5000 paid per year of service. Annual leave and Sick Pay are taxed at marginal and Long Service Leave at a reduced rate
Ex BP Golly
11 Dec 2013, 06:22 PM
Buy a farm now- or miss out forever.
As it turns out the better half and myself recently purchased an acreage property about 50K's from Melbourne (over 20 acres)
There are some people who seem angry and continuously look for conflict. Walk away, the battle they are fighting isn't with you, it's with themselves.
The first lesson of economics is scarcity: There is not enough of anything to satisfy all who want it. The first lesson of politics is to disregard the first lesson of economics. ~ Thomas Sowell.
Who was the fool, who the wise man, who the beggar or the Emperor? Whether rich or poor, all are equal in death.
"we may well become a third world economy with first world living standards.....thanks to the extended mining boom"Prof. Roy Green. Dean UTS Business School.
ABC PM 11th Dec 2013.
hmmmm, I have been saying this for years.
At least we are well placed to be the food bowl for Asia. Just like Eritrea fed the UK as it's own population starved.
Poontang
11 Dec 2013, 06:28 PM
Not sure on the exact amounts Mel but I remember it being tax free on the first $5000 per year of service, so if you earn $1500 per week and get 3 weeks per year redundancy it would be tax free.
If you get $1500 per week and get 4 weeks redundancy per year you would pay some tax on the $1000 per year over the $5000 paid per year of service. Annual leave and Sick Pay are taxed at marginal and Long Service Leave at a reduced rate As it turns out the better half and myself recently purchased an acreage property about 50K's from Melbourne (over 20 acres)
Without a domestic car industry to prop up, we can cut import duties on cars considerably. New and used cars will be much cheaper.
Of course this raises a couple of questions. Like why do we need continued massive immigration in the face of rising unemployment? And if average wages go down, what's going to prop up the continued boom in property prices many here seem to be anticipating?
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