The Rural Voice, 1986-10, Page 59ADVICE
the $200,000 deferral, there may be
a need for urgency to realize the
$500,000 exemption. There is some
concern that if the Conservatives
lose the next election, a new
government might eliminate the
capital gains exemption.
Apart from the potential
S700,000 (or $1.4 million) exemp-
tion, there's another tax deferral
available. if a farmer does not
realize all the proceeds from a sale
at once, he may claim a reserve
that can spread capital gains over
five years. But if the farm is sold to
a child, the gain can be averaged
over 10 years.
Dollar Sense offers general
financial advice by members of
The Institute of Chartered Ac-
countants of Ontario. Bruce
McLachlin is with Dunwoody &
Company, Chartered Accoun-
tants, Toronto.
RIGHT TO FARM
REPORT AVAILABLE
The Right -to -Farm Advisory
Committee report calls for legisla-
tion to protect farmers from
nuisance actions by neighbouring
property owners.
The legislation would protect
farmers from nuisance actions
under common law provided they
were using normal farming prac-
tices. It would require permit
criteria for future farm -related
severance and for the construction
of residences and livestock
facilities in agricultural areas.
Minimum separation distances
would be used as one of the criteria
for a permit.
Copies of the committee report,
published in July, are being sent to
farm organizations and
municipalities. Copies are also
available at OMAF offices or from
Susan Ksiezpololski, Foodland
Preservation Branch, Ministry of
Agriculture and Food, Queen's
Park, Toronto, M7A 2B2, 416-
965-9433.
Tell them
you saw their
advertisement in
The Rural Voice.
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Civ. of W Van Moorselifllsur
I-1% 3 North of Mlichel
9.348.93
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29.3116 (res.
Is Your Property Adequately Insured?
CaII the Howick Mutual Broker nearest you,
to review your insurance coverages.
Don't wait until tomorrow.
ESTABLISHED 1873
MUTUAL INSURANCE COMPANY
Wroxeter, Ontario
NOG 2X0
Tel. (519) 335-3561
OCTOBER 1986 57