HomeMy WebLinkAboutThe Lucknow Sentinel, 1975-02-05, Page 16MOVE MOVEANUT
IN A BRAND NEW USED CAR
1974 MATADOR, 4 door
1974-LaMANS, 4 door
1974 BUICK CENTURY LUXUS, 4 door
1974 PONTIAC BROUGHAM
1974 PONTIAC ASTRA
2-1974 BUICK CENTURY, 4 door
2-1974 CHEVY NOVAS, 4 door sedan
1973 FORD GALAXIE, 4 door hardtop
1973 DART SPORT COUPE
1972 CHEV BELAIR, 2 door hardtop
1972 VALIANT, 6 cylinder-, automatic,
4 door sedan
1972 FORD GALAXIE 500, 2 dobr hardtop
1972 METEOR MONTECALM, 4 door
1971 PONTIAC CATALINA, 4 door hardtop
1970 FORD, 4 door sedan'
1970 CHEV IMPALA, 4 door hardtop
1969 OLDSMOBILE, 4 door sedan
1969 PONTIAC PARISIENgE, 4 door hardtop
1969 DODGE POLARIS, 4 door sedan, V8 automatic
1969 FORD VAN, 6 cylinder
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AI 41, 41.' AP' 41` air IP' aor I I 411. I 410, aar dir alOP
1974-75 POLARIS SNOWMOBILES IN STOCK
ALSO SEVERAL USED MACHINES
411" dr dr 4P Allr IP AP' 411P AP, 411P .4111. 410. I al'
CAR SALES LTD.
• BLYTH PHONE 5234342
HAMBURG.._
•'SAUSAGE
BEEF LIVER
SALE ENDS SAT., FEB. 5
ALL ORDERS WILL BE FILLED
WITHIN 2 TO 3 WEEKS -2
50 LB. LOTS ,
25 LB. LOTS
10 LB. LOTS ix
u.69c
9c
-RIPLEY MEAT
MARKET
Phone 39501E2961
OPEN ALL DAY SATURDAY
CLOSED THURSDAY AFTERNOONS
tax schedules. This form must then
be 'tiled with the Federal. Govern-
ment, even if there is no taxable
income.
If a taxpayer has any outstanding
liability for income tax, . Canada'
Pension Plan and Unemployment
Insurance contributions, the Tax
Credits will be applied. to, reduce
this liability. Otherwise, the
Federal Department of National
Revenue will send out . a refund
cheque which will- include any
Federal Refund, as well as the Tax
Credits paid by the Province.
To be eligible for the Tax
Credits, you must be over 16 and
resident in the Province of Ontario
on the last dayof the taxation year.
If someone is temporarily out of the
Province on December 31st, he
may still be considered a resident,
providing' he &es not file a tax
return as resident of another
Province. In the case of individuals
who left Ontario and. -Canada
during 'the taxation year,. the last
day of "their" taxation year is the
day on which they ceased to live in
Ontario, and their eligibility for tax
credit purposes is determined as of
that date .
PROPERTY TAX CREDIT
This should be claimed b,y the
spouse having, the higher taxable
income, in respect to the principal
residence only, and is the lesser of
$180 or occupancy cost (plus 10%).
For homeowners, occupancy cost is
property, tax paid in 1974, and for
those who rent it is 20% of rent
paid in 1974. For college,
university and nursing students
living in "prescribed" student
residences, it is $25.00. • People
under the age of 16, at, the end of
year, or under 21, living at home
and claimed as dependents, are
ineligible.
SALES TAX CREDIT
The formula for this credit is the
same as in 1973, and is .1% of
personal exemptions, Which may
be claimed by most Ontario resid-
ents, with the exception of those
under, 16,' or anyone claimed as a
dependent for income tax purpos-
es.
'PENSIONER TAX CREDIT
This $110 Tax Credit may be
claimed by people over 65' and
resident in Ontario on December
31st, 1974, but in the case of a
married couple, both over 65 at the
end of the taxation year, and living
in the same principal residence,
only the • spouse with the higher
taxable income is eligible.
Please contact me if you have
any questions about your own
situation with regard to this Tax
Credit System.
NEXT YEAR
We'll paint the house next year he
said
And buy a brand new rug.
This year we'll paint the fence and
barn
And a new well must .be dug.
Next year he said, But Sarah Ann
The children are so small
New furniture w,ill soon be spoiled
It would not do at all.
We'll wait until their older dear
And we'll , have comfOrt then
And I've been 'thinking that this
year
The pigs should have a pen.
The years Slipped by and Sarah
Ann
Still scrubbed and 'hoped in vain
Of brand new rugs and furniture
She dreamed and dreamed again.
The children w and left the
hearth,
Then. Silts said My Dear
The things that you have waited for
You'll surely get, next year.
Next year came round and Sarah
Ann
Just sadly shook her head,
'Twould be but woeful waste said
she
Ere long we shall be dead.
So this year lad, let's save a bit
•For funerals cost a' lot.
And next year aye, I think
We'll buy a little family plot.
MURRAY GAUNT
PRIM-BRUCE
week the Minister of
tore' 'an Recreation, Robert
elch; announced the eatahlish--
,•raeht of the Ontario. Lottery Corpdr-
atiotras a crown agency to develop-
and Manage a provincial lottery in
Ontario, •
e net proceeds from the lottery
e used•by the government to
support programs, for physical
fitness, sports, recreation and
culture in Ontario, The corporation
will determine the price of tickets,
sales arrangements, size of the
prizes and frequency of the draws.
The governmest has esthhated
that sales could reach 100 million
within the next couple of years. It
is estimated also that 40 to 50
million to be available for physical
fitness, sports, recreation and
cultural programs.
A province-wide lottery, accord-
ing to the Minister, will not
compete with other operating lot-
teries and will provide a new source
of funds for many non-profit groups
who 'may wish to become sales
agents and sell tickets directly to
the public on a commission basis.
The lottery revenues will be used
to stimulate programs above and
beyond the expenditure that the
government is already making in
this field.,
The redistribution report outlin-
ing the proyincial riding boundar-
ies for the next election was
debated in the Legisinture for
severaldays this week. The report
now g.,, es back to the, CoMmission
for further study and amendment
and will returti to the Legislature as
a final report upon which a bill will
be based giving Effect to the report.,
This is the time of $rear when
many people are • doing their
income tax returns acid I thought it
might be helpful to review some of
the circumstances which apply to
the variolus tax credits.
The Ontario Tax Credit System
consists of a Property Tax `Credit, a
Sales Tax Credit and also a Tax
Credit for Old Age Pensioners, and
the System Will provide benefits in
excess of $375 million for. the 1974
taxation year, which will be distrib-
uted among Ontario residents on a
broad and equitable basis. Ontario
residents over the age of 65 may
well be eligible for .all three
Credits, and in an effort to ensure
that the benefits of this System are
most helpful to those in the
greatest need of assistance, the
total. Tax 'Credit entitlement is
reduced to 2% of taaable income,
which means that the amount
available to any taxpayer depends
upon family circumstaaces, age,
income and the property tax or rent
which is paid, subject to an overall
maximum of $500.
Because the Tax 'Credit System=
of the Province is administered as
part of the Federal Government's
personal income tax system, the
only method of obtaining the
various credits is to complete the
special purple tax credit form
which is included with the income
HEAVY SIDES OF BEEF
HEAVY FRONTS OF BEEF
HEAVY HINDS OF BEEF LB- 85c
CUT,WRAPPED.AND FROZEN AT NO
EXTRA CHARGE
ALL BEEF SOLD HANGING WEIGHT
LB.
u. 55c