HomeMy WebLinkAboutThe Brussels Post, 1980-10-29, Page 6THE BRUSSELS POST, OCTOBER 25, 1.880
BY JACK HAGARTY
Remember 19% interest?
"now can we forget", you
say. But, do you remember
that an Ontario. Farm Interest
Assistance program was set.
up? And that the maximum
amount of assistance is
$1,687.50? Don't expect a
cheque for that amount to
arrive in your mail in time for
Christmas. You must apply.
Most farmers will qualify_
for at least some assistance.
The eligible borrowing , per-
iod , is April 1 - December
31, 1980. Borrowings must
be from chartered banks,
credit unions or trust com-
panies. If you have a feed
bill why not borrow from the
bank and pay the feed bill?.
You'll make two people
happy--your feed dealer and
yourself.
There are a few other
points. Funds may be bor-
rowed for the purchase' of
food producing items such as
seed, fertilizer, fuel, sprays,
twine, feed cattle, feeder
pigs, machinery repairs, pur-
chased feed, custom work
and hired labour. Assistance
is based on interest charged
above .12%, up to a maxi.
Own of 3% above. jt,e, if
charged 14%, assistance, is
2%; if charged 16%, assist-
ance is 3%.
The paximum amount of
borrowed funds on which
assistance is paid is $75,000.
Assistance is $75,000. x x
3/4 year = $1,687.50.
If you have a $10,000. feed
bill and yotir dealer is charg-
ing 2 1/2 % a month, your
interest cost is $250, a month
If you borrow $10,000. for a
month at 15% annual inter-
est, your cost would be $125.
And you'd qualify for the 3%
assistance, i.e. $25. Net cost
would be $100. You save
$150. per month. An added
advantage• for most 'farmers
on the cash bastS of filing
income tax is that the feed
would then be eligible as an,
expense for 1980.
The gross annual agricul-
tural income from the farm
must •be $8,000. and you
must own less than 75% of
total farm assets.
Application forms are
available now. Drop in, and
pick one up or phone -(toll
free on Zenith number) and
we'll send a broch ure and
forms. Be an early bird!
Submit you applications as
soon as posible after Dec-
ember 31, 1980, but not later
than March '31, 1981.
MISOi
the big shot
that pays off.
One shot of framisol imertable
dewormer is all that it takes to dcworm
each animal in your herd. Broad-
spectrum Tramisol is Canada's most
popular beef cattle detsormvr, It is
clic( tit c against all nine types of worms
that ran prevent tour cattle from gain-
ing valuable potmds.
the Iramisol injectable method is
TRAMISOL
DEWORMFR
*11/ CYANAMID
fast. It's efficient. It's «moment
`Nothing is wasted. loo knim that t
animal gets a lull dose. Bach .;hot oqs
right into the bloodstream for immediate
action. lramisol injectable dcti,ormi
It's the big shot that pats in pounds and
at todat prices that means Nigel r
profits. Ask our dealer about I rdmisol
Hell tell sou it pats off be( dust. it Vmik,
Remember 19 0,percent interest?
NORMAN ALEXANDER HONOURED FOR ENVIRONMENT CRUSADE
Norman Alexander of Londesboro, longtirrie crusader 'for better erosion
and pollution controls, was honoured for his work when he was presented
with the Huron County Federation of-
Agriculture Award at the federation's annual
meeting Thursday. Mr. Alexander (left) accepted
the award from Adrian Vos of Blyth.
(Photo by Gi bb)
We are now receiving
the 1980
CORN
Crop
We buy, sell, store and custom dry
Trucking available
A complete line of Stewart seed corn is
available.
RYAN
DRYING
Brussels Walton Seaforth
887-9261 527-0527,