HOLDEN'S HEREAFTER

[panhead]

Anything that increases tax and otherwise reduces postive cashflow to offshore investors will make Australia even less attractive as a place to conduct value add business (e.g. MV manufacturing,) than it already is. We need more inward investment, not less. Why shouldn't an o/s owner benefit from Govt policy? E.g R&D tax offsets (aka fed govt grants - a rose by any other name). Whether direct or indirect, govt spend to boost the economy, create jobs, and increase foreign investment is critical to the economic sustainability of our island nation. Without it, we are limited to exporting low value add raw materials and (given our hemorrhaging manufacturung industry), importing most goods, and a large amount of services. Thus an ever increasing current account deficit....
Raping foreign owned companies with higher taxes is not part of the solution. Rather, it's a bit part of the problem.

A local manufacturer who is completing in an aggressive market against well priced imports has no chance of survival without the type of help you've outlined.

If that manufacturer also contributes to the on flow of many other small local industries and provides employment which in turn stimulates other markets then the taxpayer gets good value for money.

It may not be a perfect system but it has benefits and the loss of a vehicle manufacturing industry due to a lack of government input is poor government in my books.

The country is limited by its reliance on natural resources and if the world changes away from them then Australia is literally f'ed.

I'm all for you need to be competitive to survive but if the market isn't a level playing field which global vehicle manufacturing isn't then government stimulation is required.

It's then the manufacturers responsibility to ensure they get a product to market that the consumer wants.




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[VS 5.0]

Holden was a problem.
Starting from some really **** cars to appalling treatment of customers.

When the puppet masters from Detroit tell you what you can and can't build or sell, you don't have a lot of choice.

As per my previous post.....fcuk GM.

Raping foreign owned companies with higher taxes is not part of the solution. Rather, it's a bit part of the problem.

Allowing these entities to get away with their accounting tricks and not paying a reasonable amount of tax IS the problem.

Raping them has nothing to do with it.

 

[VS 5.0]

The country is limited by its reliance on natural resources and if the world changes away from them then Australia is literally f'ed.

Oh, the country is fcuked. It is just a matter of when, not if.

Property ponzi, barista's and other service providers can only take you so far.

 

[Forg]

Customer zervice? Yes there are a few exceptions. But those aside, they are all pretty much as bad as each other.

Yeah I don't think Holden are/were any worse at customer zervice than any of the brands that manufactured here ~20 years ago. Nor most of the current mob of importers. Lookit VW's recent treatment of customers with new melty-piston engines & grindy-grindy faux-auto 'boxes.

Oh, the country is fcuked. It is just a matter of when, not if.

Property ponzi, barista's and other service providers can only take you so far.

Capitalism is a Fonzie scheme, I reckon we can hold out 'til Capitalism folds and Mad Max happens.

 

[HarryHoudini]

Oh, the country is fcuked. It is just a matter of when, not if.

Property ponzi, barista's and other service providers can only take you so far.

I agree FWIW,Financial Journo's have been predicting a major realignment in Stock Exchanges in the years ahead.
China is running our Economy now,can only end in Tears in the years ahead.

 

[Holden17]

Coronavirus is obviously currently having the last word on national & international economies...but for how long to come is the big question?!..and the dependence of a lot of our importers (not to mention tourism) on China is starting to bite in a big way..

 

[mpower]

I agree FWIW,Financial Journo's have been predicting a major realignment in Stock Exchanges in the years ahead.
China is running our Economy now,can only end in Tears in the years ahead.

stock market is most of the bloody problem, pack of leeches who don't contribute a drop of sweat to anything but playing their little gambling games with billions of dollars of other peoples money!

 

[426Cuda]

When the puppet masters from Detroit tell you what you can and can't build or sell, you don't have a lot of choice.

As per my previous post.....fcuk GM.



Allowing these entities to get away with their accounting tricks and not paying a reasonable amount of tax IS the problem.

Raping them has nothing to do with it.

Poor use of that horrible R word by me after too many wines...
But, my point is our eccessively high taxes stymie foreign investment. Sure Chinese and other investors have pumped money into buying up Australian farm land, milk factories and other assets. But I'm talking about manufacturing. Real value adding industries.
As a chartered accountant with decades of experience in tax, business management and as a registered company auditor, I know a little bit about how companies operate and how company accounting works. I'm relatively uninformed about Holden's financial performance, financial position and cashflow. I haven't read their last full or half year audited financial statements. Maybe i will, out of interest. But, i can say that from my uninformed position, that in my opinion the problem as you put it, IS not companies using accounting tricks, or Inflated COGS as @Skylarking stated, to avoid paying tax.

 

[Forg]

Poor use of that horrible R word

But, my point is our eccessively high taxes stymie foreign investment.

I reckon it's more the fact that Australians expect to be paid more than people living in a 3rd-world dunghole, and manufacturers are more interested in employing the huge pool of people who'll accept a monthly salary of a small pile of poo with 3 piece of straw in it.

 

[VS 5.0]

.....our eccessively high taxes stymie foreign investment.

I'm of the view that if all of the minimisation / avoidance loopholes were removed, tax rates could be lowered and tax callection increased.