Loading...
HomeMy WebLinkAboutThe Citizen, 1990-02-14, Page 31THE CITIZEN, WEDNESDAY, FEBRUARY 14, 1990. PAGE 31. Good bookkeeping essential when GST hits JOHN McNEILLY GST has small effect on farmers. Seminar offers help to clubs BY NICK GELYENSE RURAL ORGANIZATION SPECIALIST FOR HURON COUNTY “Members of the board are concerned about personal liability for actions of the board.’’ “We don’t use a budget. We don’t need to, because the treasur­ er has been doing a good job in the past.’’ “Once we decide to do some­ thing, only a few people are willing to do the work.’’ Do these three situations sound familiar to you? As a director or executive member of i rural organ­ ization, you may have concerns or questions about your role and responsibilities of office. For an­ swers to your questions, you are invited to attend one of three leadership workshops sponsored by the Rural Organizations and Ser­ vices Branch of the Ontario Mini­ stry of Agriculture and Food. “Meeting Today’s Challenges”, a workshop for board members of rural organizations, will be held March 1 in Stratford (Perth); March 3 in Appin (Middlesex); and March 6 in Nestleton (Durham). This program is for “non-ex- perts”, volunteers on the boards of local commodity associations, lob­ by groups, and other rural organiz­ ations. As directors of executive members, they are in charge of their group’s assets and are expec­ ted to carry out its policies. Understanding how to manage the operation of an increasingly com­ plex organization is essential. Participants of “Meeting To­ day’s Challenges” will be involved in topics to include: financial planning for board members, tech­ niques for making good group decisions and how to motivate volunteers. A registration fee of $15.00 includes lunch, workshop materials and speakers. For more information or an application form, contact the Rural Organization Specialist at your local Ontario Ministry of Agricul­ ture and Food office. Farmers should seek profession­ al help early to plan for the impact of the Goods and Services Tax (GST), an Exeter accountant told the meeting of the Huron County Federation of Agriculture Thursday in Clinton. “You’re going to have to keep good accounting records,” John McNeilly told the 30 people present at the meeting. While most things used in farming either won’t have a tax applied or the tax will be Farm Market $1.00 higher at Brussels Friday The market at Brussels Livestock Friday met a good demand with prices $1.00 to $2.00 higher on the top cattle. There were 395 slaugh­ ter cattle and 215 hogs on offer. Good to choice steers sold from $90 to $92 to the high of $104.75. One steer consigned by Ham­ mond Bros., RR 1, Monkton weigh­ ed 1230 lbs. and sold for $95. Eight steers consigned by Emerson Mit­ chell, RR 3, Walton averaged 1211 lbs. and sold for $91.52. Twelve steers consigned by Bill Hayden. RR 6, Goderich averaged 1324 lbs. sold for $91.03. Fourteen steers consigned by G. A. Stewart Farms, RR 2, Ripley averaged 1319 lbs. sold for $90.91. Fourteen steers consigned by Max Oldfield, Brus­ sels, averaged 1296 lbs. sold for $90.39 to the high of $104.75. Three steers consigned by Frazer Diehl, RR 2, Milverton averaged 1160 lbs. sold for $90.38. Sixteen steers consigned by Lome Eadie, RR 3, Holyrood averaged 1401 sold for $89.41. One steer consigned by Steve Adams, RR 5, Brussels averaged 1360 lbs. sold for $90.25. Three steers consigned by Harold Hendrick, RR 1, Dashwood aver­ aged 1177 lbs. sol dfor $90.42. Seven steers consigned by Allan Hendricks, RR 1, Dashwood aver­ aged 1366 lbs. sold for $88.19. Eleven steers consigned by Tom and Roger Moore, RR 4, Goderich averaged 1128 lbs. sold for $88.09 Eleven steers consigned by Tim Prior, RR 3, Brussels averaged Christian Farmers want changes to tax rebate • 24 Hour Emergency Service • 1-800-265-0978 •TOTAL RESPIRATORY CARE •RENTALS, SALES & SERVICE The Christian Farmers Federa­ tion of Ontario wants to change the rationale for the Farm Property Tax Rebate Program. The Federation’s Provincial Board has adopted a policy state­ ment that recommends the intro­ duction of new eligibility criteria into the rebate program so that after five years each eligible farm will need to have a land steward­ ship plan. The CFFO recomnlends that a 100 per cent rebate continue on foodland and agricultural build­ ings. “Society has a common interest in maintaining the long-term pro­ ductivity of foodland and the environment,” the statement says. “That environmental interest is important enough to warrant a large property tax rebate to all those who manage lands with that common interest in mind. Main­ taining the public good while using it is a more enduring basis for rebates than the present ‘educa­ tion-tax-rebate’ concept.” refundable, Mr. McNeilly warned that every dollar of tax refund missed is a dollar out of the farmer’s pocket. The effect of the GST on farmers will be ^negligible, he said, except that farmers may have to borrow more money to help them through until they get refunds on some items on which tax will be applied. The biggest effect will be on the farm family already with a tighten­ ing income, that will now have an extra seven per cent tacked on its 1289 lbs. sold for $88.09. Thirty- one steers consigned by George Adams, RR 1, Wroxeter averaged 1298 lbs. sold for $87.57. Good to choice heifers sold from $86 to $87. One heifer consigned by Gordon Dougherty, RR 3, Goderich averaged 1230 lbs. sold for $88.50. Five heifers consigned by Don Fraser, RR 2, Blyth averaged 1152 lbs. sold fro $87.91. Three heifers consigned by Neil Rintoul, RR 2, Lucknow averaged 1123 lbs. sold for $87.16. Two heifers consigned by Russell Rawn, RR 2, Mount Forest averaged 1175 lbs. sold for $86.75. Eight heifers consigned by Ron Brooks, RR 3, Lucknow aver­ aged 1259 lbs. sold for $86.19. There were 113 cows on offer selling steady. DI and D2 cows sold from $57 to $62; D3 and D4 cows, $54 to $57; canners and cutters, $50 to $54. One Charolais cow consigned by Warden and Glen Haney, RR 4, weighed 1450 lbs. sold for $68.50. One cow consigned by Bill Edgar, RR 2, Bluevale averaged 1270 lbs. sold for $64.25. Five cows consign­ ed by Bob Hulley, RR 1, Blyth averaged 1322 lbs. sold for $62.79. Two cows consigned by Clare Kraemer, RR 3, Walkerton aver­ aged 1315 lbs. sold for $58.73. One cow consigned by H. & D. Gaunt Farms, RR 2, Lucknow weighed 1230 lbs. sold for $58.50. Pigs under 50 lbs. averaged $101.43; 50 - 60 lbs. averaged $98; over 60 lbs. averaged $95.65. “Those who manage land with only their personal short-term pro­ fits in mind should carry the costs of land taxes themselves,” said Jack Vanderkooy, CFFO President after the January meeting. SPRING IS ON THE WAY Much of planning and estimating your Farm Drainage Projects can be done now, using maps and photographs. K.M.M. FARM DRAINAGE CALL TODAY 887-6428 WALTON cost of living. No GST will be paid on livestock, poultry, grains in their natural state, hay, silage and some farm machinery. On some items, how­ ever, farmers will have to pay the tax, then apply for a refund. This input tax credits will be very important to the farm operator, he said. There will be no tax on the sale of a working farm business as long as both parties agree. Quota sold with the farm will not be subject to GST. On rental property there will be a refundable GST charged against land but not against the house. The inflationary impact of the GST will depend on whether or not manufacturers take off the whole 13.5 per cent manufacturers tax, Mr. McNeilly said, and also wheth­ er the interest rates remain high. Borrowing by farms and businesses will likely be higher to finance the business until the tax is refunded (21 days after the refund docu- Farm dateline Wednesday, February 14 - 4-H Agricultural Machinery Club Meet­ ing, McGavin’s Farm Equipment, Walton 7:00 p.m. Wednesday, February 21 - Huron County Junior Farmer Meeting, O.M.A.F. Boardroom, Clinton, 8 p.m. Monday, February 26 - 4-H Agri­ cultural Club Leaders’ Open Agen­ da Meeting, Blyth Legion, Dinsley St., Blyth, 8:00 p.m. Professional Respiratory is pleased to ANNOUNCE the OPENING of our CLINTON OFFICE in the WINSTAFF CENTRE Mary Street, Clinton (side entrance) 482-7405 OXYGEN CYLINDERS OXYGEN CONCENTRATORS LIQUID OXYGEN PORTABLE OXYGEN SYSTEMS AEROSOL THERAPY SUCTION THERAPY APNEA MONITORS NASAL C.P.A.P. CLAYTON HEFLEY, R.R.T. ments reach the tax department). The positive effect of the tax on the economy should be good, he said as it helps Canadian manufac­ turers compete with imports. The present tax applies only to items manufactured in Canada, not to imports, making it cheaper for people to buy imported goods. There are currently 22,000 special provisions under the manufactur­ ers tax and the new tax, it is hoped, will minimize tax avoidance and evasion. It is hoped the tax will contribute to the re-education of the federal deficit, he said. RRSP’s are not all the same! Why save for retirement with an or­ dinary RRSP. This year combine complete convenience with a flexi­ ble RRSP that offers: •several savings choices •Mutual Fund options available •no administration costs •competitive rates •creditors protection if a family member is designated as beneficiary •instant Tax Rebates CALL TODAY Call me: Tony G. Arts 107 Main St. Seaforth. Ontario Seaforth: 527-0794 London 432-1041 O SunLife CROUP TENTS PERCUSSORS COLD AIR MASKS MECHANICAL VENTILATION JOANNE RIEHL, REG. N.