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The Pub For General Automotive Related Talk |
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#1 | |||
Render unto Caesar
Join Date: Feb 2008
Location: ::1
Posts: 4,221
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#2 | |||
FF.Com.Au Hardcore
Join Date: Feb 2008
Posts: 2,312
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My ride: 2007 Falcon Ute BF XR8 Orange, MTO. |
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#3 | ||
Grunt Files
Join Date: Apr 2006
Location: Rockhampton QLD
Posts: 466
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i wonder how much ford aust got in grants?
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2010 fpv gs supercharged 5ltr 1982 ford fairmont xe esp 351c |
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#4 | ||
FF.Com.Au Hardcore
Join Date: Jan 2009
Posts: 2,653
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That article really, really, really gives me the sh!Ts!!! As an accountant, you do NOT deduct grants (which is a capital investment) from the P&L results.. Trying to make this relationship is totally & completely wrong, wrong, wrong, wrong..
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#5 | |||
Render unto Caesar
Join Date: Feb 2008
Location: ::1
Posts: 4,221
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Quote:
![]() I wonder how similar to Holden does FoA work?
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"Aliens might be surprised to learn that in a cosmos with limitless starlight, humans kill for energy sources buried in sand." - Neil deGrasse Tyson |
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#6 | ||
FF.Com.Au Hardcore
Join Date: Feb 2005
Location: Melb north
Posts: 12,025
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the ATO usually does`nt stuff around if its owed money, it will be interesting to see where this goes.
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#7 | ||
Lukeyson
![]() Join Date: Mar 2005
Location: Maitland, NSW
Posts: 2,580
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Toyota racked up a huge tax debt not that long ago too. I don't know how similar the circumstances were.
This seems to be a moral standpoint every is taking in Australia - that automotive shouldn't receive taxpayer funds. Is that a fair point? Or a case of too many people having a say? Then again, everyone complained in the US that flights to the Moon shouldn't have consumed tax payer funds. Lukeyson
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#8 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,553
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#9 | ||
Lukeyson
![]() Join Date: Mar 2005
Location: Maitland, NSW
Posts: 2,580
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Aren't all the previous grants public knowledge? They may not have all been GCIF grants, but didn't they get some assistance with the Foundry for brake rotors? And some for the Ecoboost/Diesel/LPi engine integration work? Or were they grants previous to this reporting period?
You speak coyley (or Coyote-like Mr Road Runner) as if there are some announcements pending. And that makes me wonder - when will all base model Falcons be running around with Ford made 355mm 4 spot front rotors and calipers? Lukeyson
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If the human brain was simple enough to understand, we'd be too simple to understand it. |
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#10 | |||
Virtuous Bogan (TM)
![]() Join Date: Jan 2005
Location: TAS
Posts: 27,553
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#11 | ||||
FF.Com.Au Hardcore
Join Date: Sep 2005
Posts: 1,848
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Quote:
It does this with some basic "what if" analysis. Looking at it simply, GMH claims a 1.12 m profit, and yet they got 1m free money. This is not a bullet proof argument - but then no "what-if" ever is (without an alternate universe) This is the key point in the article Quote:
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#12 | ||||
FF.Com.Au Hardcore
Join Date: Feb 2010
Posts: 1,242
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Quote:
The articles point is - that without taxpayers forking over alot of money to maintain incompetant executives earning $200,000 to $800,000 a year and then them coming out and saying that they are so brilliant that they managed to make a $112 million profit, sort of flies in the face of all common sense. The whole purpose of getting a grant like ATS or the green car fund, is to spend it in australia, on technology and processes that benefit the australian community. Not to pilfer it away, via some abstract company setup, back to head office, or to allow those incompetants to claim that they have somehow managed to make a profit. SO once you get a grant, you put it into revenue on the profit and loss statement. If you dont spend it (sort of defeating the whole purpose of a grant), it stays on the books as "cash on hand", if you do spend it, it goes onto to the books as "assets". So it has everything to do with the Profit and Loss of a company. The government is forking over millions each year so Quote:
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#13 | ||
FF.Com.Au Hardcore
Join Date: Nov 2009
Posts: 3,876
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grants are only payable if certain development and R&D goals are met. Usually the company has to spend X amount of dollars to get it, in the case of Green vehicle technology Holden puts up $3 for every $1 of support.
If they didnt get the support they probably wouldnt have spent as much on R&D and simply let other GM places around the world to do the research. This would have lowered Holdens expenditure dramatically - so its a stupid article as you cant just remove $100,000,000 of government grants from the P&L without also removing $300,000,000 of Holden's expenditure. |
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#14 | ||
Mustang GT mmmmmm......
Join Date: Jan 2006
Location: Mornington Peninsula
Posts: 1,458
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All three Australian car-makers – Holden, Ford and Toyota – have been on the receiving end of the scheme that kicked off at the height of the GFC in 2009 with a total budget of $1.3 billion as part of the over-arching $6.2 billion New Car Plan for a Green Future.
GM Holden received $150 million towards local production of the four-cylinder Cruze that has just begun at its Elizabeth plant in South Australia in readiness for launch in a few weeks. Ford Australia got $42 million towards the cost of engineering its new-generation EcoBoost four-cylinder engine into its Falcon – a model that is set to arrive in showrooms later this year. Toyota Australia was given $63 million towards its $300 million program to retool its Altona engine plant in Victoria for a new four-cylinder 2.5-litre engine for its 2011 Camry and Camry Hybrid. http://www.goauto.com.au/mellor/mell...2578260018E484
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#15 | ||
FF.Com.Au Hardcore
Join Date: Apr 2009
Posts: 2,215
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Does the gov give the money ?
Don't the gov get that money back ? Is it in aussies interest to do as so. Our gov give ! tax payer dollars to other countries all the time but now this money is going back into our own country's interest is it not. I think a new model car takes maybe 3 years until they make a profit then the new model needs investment and so it goes. so it all works over some years and you can not just look at it over one year. If the aussie car companies were to fail i think it would cost aussie nation a lot more. |
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#16 | |||
FF.Com.Au Hardcore
Join Date: Jan 2009
Posts: 2,653
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Cash on hand & assets do NOT get put into P&L statements.. Please stop talking as you clearly do not know what you are talking about here & in this case I do!! Last edited by Joe5619; 28-04-2011 at 05:25 PM. |
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#17 | |||
FF.Com.Au Hardcore
Join Date: Jan 2010
Posts: 11,267
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Quote:
it cannot be just parked in cash at hand for later on, that is an accounting no no. Joe5619, I see you beat me to it... ![]() |
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#18 | ||
IWCMOGTVM Club Supporter
Join Date: Sep 2005
Location: Northern Suburbs Melbourne
Posts: 17,798
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Just remember these grants came along so the government would drop its tariffs and create a more competitive car industry. Seems a lot better for the consumer now then before.
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Daniel |
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#19 | ||
Giddy up.
Join Date: Dec 2004
Location: Kramerica Industries.
Posts: 15,620
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You know the saying "Holden car's, meat pie's"
Soon it will be "Holden car's, Paul Hogan and the ATO,". |
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#20 | |||
Regular Member
Join Date: May 2008
Posts: 376
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Quote:
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Ford Performance Enthusiasts |
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#21 | ||
FF.Com.Au Hardcore
Join Date: Nov 2009
Location: Ipswich, Qld
Posts: 1,354
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I was always of the impression grants were a form of income, and therefore needed to be on the P&L, but only if the recipient has actually received them and there are no conditions, or else once the conditions have been met (spending the amount of money required, ie. Revenue recognition)...but, I could be wrong...
ergo GM/Holden have met the conditions, and they can now class this money as income, putting in on the P&L.
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