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HomeMy WebLinkAboutThe Huron Expositor, 1971-02-25, Page 12SIDE -COME TAX FORMATION A REGULAR COLUMN OF ANSWERS TO DUES- ,TIONS FREQUENTLY ASKED YOUR TAX MAN. Q. I purchased bonds in my son's name. Fur tax purposes is the interest on the bonds his income? Or is it my income and if so must I report it on my return? A, Any interest income from the bonds should be reported as ydur income as long as your eon is under 19 years of age, Q. I paid $1,500 .in alimony to my former wife last year. Can I claim all of this on my income tax return? A. There is no dollar limit on the amount of alimony that can he deducted. You may claim the full amount spent in the year as lung as the payments are made on a periodic basis for the main- tenance of your ex-wife and children, and are in accordance with a decree, a court order or a written agreement. If you reconciled with your wife before the end of the year you may not claim alimony, but must claim instead such personal.exemptions -as may be allowed. Q. My wife took a part-time job last year for the first time since our marriage . She earned over $3,000. Do I have to include her income with mine or does she have to file-- a separate, return fur her Income? A.• Since your wife will have a taxable income she must file separate return. Because her income was more than $1,250 N11: will not he able to claim married exemption on your return. A. I changed' jObs last year and received a lump sum .payment from my previous employer's pension plan. I know this money can .be faxed at a -reduced rate - but I do not know how to cal- culate this rate 'of tax. What should I do? A. When filing your return you should attach a note to your return requesting that the De- partment apply • the provisions of Section 36 of the Income Tax Act to your lump sum payment. Also attach the T4A slip on which that payment is reported. Complete your return as far as the "Taxable Income" figure but do not include the lump• sum payment in your. income. Do not make any tax calculation, but enter on the line "Total Tax deducted per T4 and, T4A slips", the total amount of your tax deductions including the amount deducted from the lump sum payment ,as shown on •the T4A slip. Q. My wife and I have a joint bank account. The payments into the bank account are made by me as my wife has no private income of her own. The T5 slips are made out in our 'joint names. Should I still report the interest income on my tax return in- eluding it with my income? A. All of the bank interest must be, reported as your, income since your 'wife's share of the money on deposit,came from you. 27. Ili-rills ity Hospital, en February 20, 1971, a son. HOEGY — To Mr. and Mrs. Wayne Hoegy. RR- 7, London, at Victoria- Hospital, on Satur- day, Feb. 20, 1971, the gift of a son. 19-113s.. 9-oz., Scott Way- ne. GLANVILLE — To Mr. and Mrs. Lorne Glanville, at Clinton Public Hospital, on February 20. 1971, -a daughter Barbara Ann, a sister for Robert. WHEATLEY To Mr. and Mrs. Larry Wheatley, RR 1, Dublin, at Clinton Public Hospital, on February 21, 101 a son, Jason Charles, • RACHO To Mr. and Mrs. Allan Raoho, of Callender, Ont., on February 20, 1971, in North Bay General Hospit- al, a daughter. A Versatile and wearable knits I have become so popular they are now outselling . most .other fabrics. If you sew, there is no need to hesitate about using a knitted material. To-day's knits are easy to work with, if you observe a few Simple rules. Choose' your pattern care- fully, being sure to get one recommended for knits. For polyester knits, look for a pattern that gives yardage ea- layout for .60-inch 'Material - it will cut to better advantage. For any knit, choose a pattern whiC".11 has a min- imum of seams, with no flaresor bias seams. Before cutting knitted fabrics, try to press out the creases. If you don't succeed, lay the pattern on to avoid them. As so many knits have a nap, pattern or texture, it is usually best to use the "with nap" lay- out. When working with knits, use sharp pins, scissors, and needles to prevent snagging. You can buy sewing machine needles specially„ designeii for knits. There is also a special foot available •• for some machines. Polyester thread is the best type for knits because it has greater elasticity than cotton. Using 12 to 15 stitches to• the inch will give the seams greater' elastic- ity, which means they will •be less likely to split. Use a.loose but balanced tension for the thread, and light tension on the presser toot, - Because they seldom require lining and, are usually made in simple styles, knits .take lees work than most fabrics and present less diffidulty, if handled with care, _E ....14012.0N EXPOSITOR, SEAFORTH, ONT.,' .F4,13. 25‘, 1971 • ********** ** GLASS UP HERE ! WITH ANY GAS PURCHASE (1 GLASS PER PURCHASE ) GERALD'S SUPERTEST Corner of Main and Goderich Streets, Seaforth — Phone 527-1010 Egmondville Stephen Hussey, son of Mr. and Mrs. Terence Hussey is •a patient in St. Joseph Hospital, London. Knits Are Easy to sew 41..1110111=1111111111/11MMMIIIII. EDUCATION WEEK MARCH 7 to 13 "Schools Are For People" Seaforth District High School Staff and Students invite you to attend any or all of the following events to be held during "EDUCATION WEEK". 1. From Monday, March 8, to Thursday, March 11, we invite you to "SIT IN!' on any classes in the school during the scbool day, from 9 a.m. to 3:30 p.m. 2. On Monday, March 8, from 7:30 - 9:00 in the even- ing, we invite you to 'OPEN HOUSE'. Each Dept, ment will have work on display. Coffee will be served. 3. On Tuesday, March 9, we are inviting all. Grade .8 students from our High School District and their parents to meet with' us from 8 to 10 p.m. to ex- plain the avenues open to these students for next year. 1 • 1 1 1 1 , News of Huronview • The Salvation Army Band of Goderich visited Huronview last Sunday afternoon awe presented a religibus concert for the residents. The weekly dance was somewhat improved though some of the residents have found out the weatherman tells fibs and still sat tight. The usual routine was followed with wheel chair dances being a big favourite, followed with dances for those who could dance as of old. The orchestra was right on the job. They enjoy 'it. to the full and practise every day in some part of the home fqr the pleasure of those who cannot go. A sing sung closed the day off. The February birthday party sponsored this month by the Goderich Women's Institute was held in the auditorium on Wednesday afternoon. The program with Mrs. Sutcliffe acting as mistress of ceremonies consisted of a sing song led by Rev. Warr; vocal numbers by Mrs. McKee, Mrs. Mills, Mrs, Sutcliffe, Mr. and Mrs. Warr; Instrumentals by Mabel Hawkins, Mrs. McKee Sr., Orville Powell, Norman Speir, John Leeming; Dance numbers by Mrs.. Sutcliffe, Barbara Miller, Ervine Johnston; Following the singing of Happy, Birthday the twenty residents having birthdays this month were presented with gifts and lunch was served by the ladies Mr. Jack Thyne of Brussels along with Clarke Johnson and Dave Hastings entertained on Thursday evening, Family Night, with a Scottish Program con- sisting of musical and , vocal numbers, poems and a sing song. This program had been planned for Bobbie Burns day and had been rescheduled owing to the weather. The weekly bingo was well attended on Friday with sixty-fiee residents playing ten games. News of W. Weterhof Seaforth DEAR CHILD - Once there was a motto on our wall which read: "A friend is one who knows all about you and loves you just the same." Seemed to me a bit negative, but it ha'S the same idea as your definition. And a good friend is rare and precious. An only child can certainly be a lonely one, until she clicks with a pal. Just be sure those acquaintandes who pour it all out, don't get the idea you are nosy. Friendships often develop around a common interest; so• keep in the swim: With that friendly heart, you'll find a kin- dred pospirRiits, soonerp or later. - I arm resigning as church organist. Would you word for me a Itter to use in resigning? Would ,this be sent to the church secretary oc the- choir director? - NO WORDS FOR IT DEAR NO WORDS - YOur letter is your, effort fp deliver the mes- sage that you are leaving, the . and the general reason, i mpression that they have your good will, Something like this: I write this note with agreat deal of regret, to notify you of my resignation as organist, to take effect lviarc h. 31. My health has not been too good lately, and my doctor instructs me to get a I: great deal more rest. "We have had some wonderful times together, and I am going to miss all the old associations we have built up over the years. "I do hope you will be able to replace • me without too much difficulty. If you need me to carry on a little -longer, I could manage this. "With. best wishes for our choir's continued success." Your actual reason, the date, the other details will have to be your own. Address your letter to the person who hired you. CONFIDENTIAL TO DAD - If there were no strings attached to your promise that Jack could get a driver's license when he became lei, is it fair to take it back until he is in grade 10? You would still, have thesay. as to when he could have the car - and this could be a reward for effort. He may give up trying altogether if he feels he can never make the grade - 'with you, Ry is Get Set Hair Spray Regular and Hard to Hold. 8.25-oz, Repeat by Popular Demand Ladies' Nylon Stretch BRIEFS One size fits all Reg. 59c SOIL Vermiculite, Peat Moss and Peat Pots mew- in stock. All your Garden Plants from our wide selection of GARDEN • SEEDS N O W POLE LAMPS .77 CLASSIFIED ADS SUPER DISCOUNT PRICE • • 11 CHOCOLATE BARS c 10 Bars per pkg. Reg. 1.00 value Bags of Q. Is there a limit below which interest does not have to be reported on my income tax? A. No. Interest , income should be reported whether the amount is $1 or $1,000, even if no T5 slip has been received. Q. What does "net dividends" mean for income tax purposes? A. "Net dividends" means gross dividends minus depletion allow- ance and carrying charges, if any. Depletion may be an allow- able deduction from dividends paid by a ,Canadian corporation whose business includes the operation of a mine or an oil or gas well: Il. you are in doubt about the rate of deplet- ion ask your District Taxation Q. My wife and I both receive the old age security pension. Can we file one return for both of us? A. No. In, Canada it is not per- missible for peopleto file joint tax returns, every person who has a taxable income for the year must file his own income tax' return. When filling in your income tax - return you should remember that ' your wife's old age security pension is part of her income when you are calculating your married exemp- tion. Q. I have two bank accounts and the interest on one of them was less than ten dollars.so I haven't received a T5 slip. Does this mean I don't have to declare this amount of income when I file.. my tax return? A. You should report as part of your income all interest received •frqm bank savings accounts, even if you have not received a T5 slip from the, ank. Q. My husband has a farm tractor that he uses, not to earn his living, but to cto farming and a little logging and collecting of firewood. Can he claim any 'depreciation on this farm trac- tor? A. If your hueband is a farmer and is reporting his income from farming or logging he would be able to claim depreciation on the tractor. However, if he has no Income from farming or log- ginge and the tractor is not being used for the purpose of pro- ducing income, he would be un- able to claim any depreciation. Q. I had a grain storage building constructed on my farm this year. What rate of depreciation can I claim on my income tax?' A. There are special depreciation rates on grain storage buildings 'constructed in 1970. Consult your Farmer's and Fisherman's Guide for further information. Q. I have rented my farm out on a. crop-share basis for the last five years. Would I still be able to average my income for tax purposet? A. Yes, if this rental income is your chief source of income. 26. Personals Mr. and Mrs. JeSies Cotitte wild be- celebrating their 55th- wed- ding anniversary on March 1st, 1971. 26.72-1 Mr, and Mrs. Ali-x Roney, Dub- lin will be "At-Home" to their friends and relatives on- the occasion of their 55th wedding anniversary. A reception- will be. held -at -the -home of their son, Eirl, on Sunday. February 28th,. from 2 to 4 p.m, No gifts please, • 25-72-1 27. Births DIETZ -. To Mr. 6id-Mrs. Mir- yin Dietz, RR 1. Dublin, at Seaforth Community Hospit- al, on February 20th. 197L son' VAN BAKEL — To Mr. and Mrs. Herman Van- Bakel', -RR 2, Dublin, at Se•aforth Commun. Huron County Board of Education will send a request to the 'board of governors of the C BC requesting that the program Sesame Street be retained on Canadian television. • Board members learned the program is highly valued by school officials and teachers and is used each day in many kinder- garten classes throughout the county. Associate superintendent W. H. Knisely anti board member Dr. A. B. Deathe both advised the board they had watched the program recently and found it uniqUely successful in teaching children the baisics of learning. f. I don't think we could pro- vide anything' to compare with it in a pre-kindergarten pro- gram." observed Dr. Deathe. DEAR DORIS - My hands get red and chap- ped in the winter. They look awful, and I can't seem to keep enough cream on them. The way I use hand cream, it would run into a lot of money if I used the advertised brands. 'So today I rendered some tallow and made' it into flat cakes in Muffin tins. Would you- please send me the recipe you mentioned for a hand lotion made with tallow? Now I have a lot more of these little tallow cakes than I need. I'd be glad to share them with some of your other read- ers who suffer from chapped hands. If anybody would like to pay the postage for two cakes of tallow (15 cents, I think) they 'Would be -welcome-'to-them Two cakes would make, quite a bit of hand cream. SANDPAPER HANDS DEAR SANDPAPER HANDS - Now I call that a friendly way to use the old noggin! I'll be glad to pass on any requests that come fo me for, tallose, and' will supply copies of the recipe to go with them. Any requests should in- clude 25 cents (15 cents for the t allow cakes and 10 cents for my recipe), and a large stamped, self-addressed envelope. DEAR DORIS • During my tentire life of 15 years I have never had a true friend. Practically every time 1 go on a bus I chat with someone, hoping that I may be cheering them up a bit. Casual acquaintances spill their problems on my shoul- ders and I try to help. Isn't a true friend a person whom you can tell your problems to without getting a slap, some- one who really wants to help you? I know you can't go to a store to buy one, but could i,meet one through my qualities and if I could, bbw? - AN ONLY CHILD •••••••••••••••••••••••0,0,0..r.4.41•••••••••••••••••111....00.-••••••••••••••••,/, Use Expositor Want - Ads Photo 527-0240 Mfg. Sug. List 99c ELGIN and JACK Elgin Schad@ Jack Malcolm 'SPECIAL PRICES on parts and accessories Come in and see their (--\\ BARGAIN TABLE.. just loaded with values. SERVICE TIPS ER.•• re -The program Sesame Street has been suggested as one which could ,be dropped next season becausef0 it is an all-American production which provided no spaces for commercials, thus making it a -highly expensive program to carry. There was a further allusion .during the board meeting to the problem caused by the CRTC's ruling in an attempt to cut down the amount -'of American programming, In' Canada - though purely in fun. Referring to his appearance with. the -Director of Education John Cochrane Monday, March 8 on CKNX-TV during Education Week, board chairman Robert, Elliott remarked, "They are really scraping for some Canad- ian material for television." a. Board Asks CBC To Carry Program -IT'S AN EVEN NICER NIGHT. FORA RUN! 1 Variety of styles Reg. price 19.95 to 24.95 REPEAT OFFER WILLOW-O-PAKS 7-oz. box of miniatures including Slow Pokes, Cocoanut Fingers and Sweet Marks. Reg. 45c pkg. ~SPRINT DOWN TO SEAFORTH • ELECTRONICS `TO RECEIVE THE *TOPS IN VALUE AND SERVICE N O W for tr EAL FARM EQUIPMENT Our Motto:— "AFTER WE sat. ieRvice AYR OAII.SEAFOrttli Phone 527.6120 pHiLco,4624% ,wires Authorized tea er SEAFORTH ELICTRONICS SALES SERVICE +TV 40 IRA010 I • STEREO 9 ,