The Lucknow Sentinel, 1986-11-19, Page 2Wilson promotes tax reform during Goderich visit...
from page 1
i
ceduand the iii
re nister emphasized it
must be handled caref y.
"It's important to find the smoothest
way possible to change from our present
tax system, to whatever system we even-
tuallychoose, he said.
Duirng a question period following his
address, Wilson was asked if the govern-
ment had any plans to change the current
$3,500 annual limit on Registered Retire-
ment Savings Plan (RRSP) contributions?
"I'm afraid I'm going to have to disap-
point you there," he replied. While "there
has been an awful lot done on pension
reform," there are no plans to change the
current RRSP limits, he explained.
Questioned on problems with capital
gains taxes, Wilson said a capital gains ex-
emption for qualifying sellers currently in
Natural Resources Minister Vincent
Kerrio announced approval today of a pro-
ject of the Maitland Valley Conservation.
Authority to undertake flood and erosion .
prone area mappmg along the Lake Huron
shoreline in the Township of Ashfield.
This mapping will extend approximately
20 km along the Lake Huron shoreline bet-
ween Port Albert and Amberley.
effect is the best way to handle the
situation.
"I am confident the capital gains exemp-
tion is the right way to go and provides an
incentive to encourage new businesses,
It's something we're pleased with and will
stay with," he said.
Bruce Sully, chief executive officer of
Champion Hoad Machinery, Goderich,
asked the minister if research and
development tax credits would be as ac-
cessible to smaller manufacturers like
Champion, as to "glamor high tech
industries"?
"We're gambling (by doing R and D
work) but we don't know if we're going to
get credit for it," said Sully.
"We did broaden the definition of
research and development in the V
budget, making the application more
The mapping' will be midettaken in ac-
cordance with the Canada - Ontario Flood
Damage Reduction Program and includes
delineation of the 100 -year erosion linait,
100 -year flood level, and the 100 -year level
including.wave runup,
The total estimated cost of the project is
$51,000 including a provincial grant of .
$20,000 and a federal grant of $25,500.
generous as fat:- as small companies are
concerned," replied Wilson.
Paul Klopp, of the. Huron chapter of the
Ontario Federation of Agriculture, made a
plea for a four or five per cent interest rate
reduction program for farmers, to help
"We need eight per cent money across
the board for every farmer," stated Klopp.
Wilson replied that the national deficit
must be lowered in order to make interest
rates fall naturally.
"If we have programs for everyone,
them recover from a rough year. We're not going to get that deficent down,"
• from page 1 •
Clerk Frank Hawthorne advising the
township on the land option signed with
Floyd Milne for property which will be us-
ed for the sanitary sewer system'
Easy come easy go
Easy come - easy go was council's sen-
timents after receiving their third direct
grant from the Ministry of the Environ-
ment for $53,000 for preliminary work on
the sewage system. However, at the same
time, council received a bill. from the
village's engineering firm, B.M. Ross and
Associates from Goderich, for $54,000 for
their work on the sewage system.
Reserve account
Council passed a motion to carry over
the 1986 budget allocation of $18,500 for
renovations to the town halrbasement and
of the "Community Centre Road" as an ac-
cess road for his apartments on Ross
Street. Council said they would invite Mr.
Glenn to the next council meeting to
discuss the proposal.*
Council received a letter from Jack
Crozier, the bylaw officer for the town, re-
questing that the fine for overnight park -
mg on village roads during the winter mon-
ths be increased to $20 for first-time of-
fenders. He recommended council put an
ad be placed in the local paper of overnight
parking restrictions.
In the October 29 edition of the Sentinel,
an article on the retiring Lucknow postal
allocations for the sanitary sewers in a employees contained an error. Mr. Ken
reserve account for 1987. , Mowbray retired after over nine years as a
Access Road • rural Postai courier, instead of two years.
Lucknow resident Gerry Glenn, in the The Sentinel Fegrets this error and any in-
'
•
form of a letter, asked council for the use convenience it may have caused.
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