Sanitarium is owned by the Seventh Day Adventist Church who, due to their not-for-profit-status as a religious organisation, don't pay any taxes.
Warren Buffet donates $1.5 billion to charity
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Sanitarium is owned by the Seventh Day Adventist Church who, due to their not-for-profit-status as a religious organisation, don't pay any taxes.
Very true. You know your stuff!
Woolies sold DSE late last year - http://www.abc.net.au/news/2012-09-27/dick-smith-sold-to-private-equity/4283098
Back in the 70's and 80's Australia was BOOMING and basic manufacturing jobs were plentiful for the underclass. They're not now.... leading to all kinds of family breakdown and social problems. Buying Australian made wasn't as important back then... and maybe he just didn't see the light?
It was Dick Smith who made me realise the impact of buying Australian. If it wasn't for him I wouldn't have known about this.
I think it's crazy the ridiculous standards we hold people like this up to when in fact they have done much so much more than we have or ever will. Surely we can look past his cheesy self promotion and see the good he does, overall?
What is the deal with Sanitarium, are they only 70% Australian owned or something? Are you able to suggest a 100% Aussie food company with a similar enough product line large enough to buy out Dick Smith Foods? (I had always thought that they made the peanut butter on his behalf, but I really don't know). P.S. Uncle Toby's is now Nestle.
Thanks for the heads up. It seems as if Woolworths has lost money on the deal. I bet the private equity group that bought out DSE will remove some of the fat and list DSE on the stockmarket, in the same way as Myer was refloated after being liberated from Coles.
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Respectfully, I beg to differ. Chart the GDP numbers and you will see that these were definitely not boom times David. It was a time of Stagflation, Oil Shocks and (72-75) dear Gough.
Gough was a nice fellow with a heart the size of a planet and a sense of decency that was unmatched in Australian politics. Sadly, his government was quite another thing - they were incompetent and did incalculable economic damage to the country.
Nothing wrong with buying Australian. My problem with Clever Dick is that he does not do so himself. I recall him making a fuss when Campbell bought out Arnotts back in '92. Actually, its the best thing that every happened to Arnotts. Today, you can buy Aussie-made Tim Tams all over the world. One could not do that before Campbells tookover Arnotts. Plenty of jobs were created too.
I once bought Dick's version of the Tim Tam. It might have been locally made (like regular Tim Tams) but it was inedible.
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Oh OK, I haven't checked GDP figures. That was just my assumption based off (what I understand) to be the mass importation of labour in the 70's... all the Greeks, Italians, Irish, etc more jobs that people at that time I thought. Late 80's yeah, recession. Maybe I was thinking of the 60's!?
Hmmm... there are many things to consider with this whole Aussie owned vs Foreign owned. What you have suggested is a big plus, however thing that worries me is if the Tim Tam is huge success worldwide will they shift manufacturing to cheaper country? (initially sourcing more and more ingredients offshore...). i.e. Kraft are selling peanut butter at Coles/Woolies that's made in Canada...
I believe that is incorrect. Profit seeking businesses owned by charities/religious orgs are not exempt from paying taxes in those businesses.
Happy to stand corrected by accounting boffins.
Its a sign of our times old son, its called Globalism. Sometimes its good. And sometimes, as you say, it can be bad.
Nobody has a monopoly on patriotic virtue. Plenty of 100% owned Aussie companies manufacture in China these days. Why? Because it makes sense.
Let me tell you one thing. The day they start making Tim Tams in China is the day I stop eating them!
God forbid, the Chinese make some great things. They have even put people in Space and brought them home alive (the latter being more hard to do than the former).
Call me prejudiced if you will but they sure as hell won't know how to make a decent Tim Tam! If they even try, I refuse to buy. Some things are sacred!
Totally agree - and I'm with you.
The part that you get, but most people usually miss is that Australian made food rates among the highest quality food in the world, yet people do 1:1 comparisons on price with food from overseas when making purchasing decisions (hint: it usually costs more because it's better, safer and less modified). Either that, or they are mislead by dodgy advertising (like the Coles 'baked in store bread', the dough is made in Ireland!).
Electronics, Cars, sure - I agree, go to China, Japan, etc for those.
But to think of all the food we import is crazy!
This is why I like Dick Smith, Ausbuy and Australian made etc reminding us of this information, and I feel our government doesn't do enough in this area.
Nope, they are definitely tax exempt. Upsets some of the other brands who can't compete on margin as much without the equal taxation burden.
Actually, incorrect.
Tax exempt for now in existing business, but that is why the ATO has put in some potential changes via the ACNC (Australian Charities and Not For Profit Commission) - to try and tax the 'unrelated businesses' of charities.
Apparently, the big businesses like Sanitarium are the target.
Unfortunately, they may catch up other activities run by charities that raise funds so they can run benevolent programs.
Links or it didn't happen people!
Are they exempt or not? Just hearsay and opinions?
I don't really like proving myself wrong, but here I go. I might be technically a little correct (?).
The almighty wikipedia says Sanitarium pays no company tax - http://en.wikipedia.org/wiki/Sanitarium_Health_and_Wellbeing_Company
Sanitarium's website (http://www.sanitarium.com.au/about-us/our-promise/sanitarium-charitable-purposes) says similiar. But they say...
I'd say that Sanitarium, the company is not a registered charity and doesn't enjoy tax free status, but rather just get's a tax deduction for what it donates to a related charity (that would otherwise be profit).
Further "The Company is a generous supporter of the community through charity partnerships." suggests that Sanitarium itself is not a charity.
What happened to these families and why do they not feature on the rich lists
Ease up will ya.
He's a bloody terrific Australian and we need a few thousand more like him.
He's probably provided more jobs and given more to charity than my whole flamin' suburb.
Thanks for posting this. During the Q & A one of the questions referred to a thread on Reddit. It's an AMA (ask me anything) he did 5 months ago which is worth a read for anyone interested in Bill or his foundation.
http://www.reddit.com/r/IAmA/comments/18bhme/im_bill_gates_cochair_of_the_bill_melinda_gates/
Thanks for posting this. During the Q & A one of the questions referred to a thread on Reddit. It's an AMA (ask me anything) he did 5 months ago which is worth a read for anyone interested in Bill or his foundation.
http://www.reddit.com/r/IAmA/comments/18bhme/im_bill_gates_cochair_of_the_bill_melinda_gates/
That AMA is hilarious, thanks for the link. Bill Gates is my #1 hero.
