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HomeMy WebLinkAboutTimes Advocate, 1991-04-03, Page 22'B' champs -:The Exeter Curling Club's recent wrap-up bonspiel 'B' winners were Marty Dick (left), Les Hills, Gordon Cummings, and Deb Cummings. Curling champs - The team representing Precious Blood was the winner at Wednesday's elementary schoolbonspiel. Shown here are Tony Eikering (left), Viengxay lnthavong, Theresa Wilhelm and Darryl Hartman. Some helpful tax tips REGINA - Reforms Canada's tax system have eliminated the five- year block e which many farmers use to even y out income fax payments over the good and bad years, predicts Saskatchewan's agri- culture ministry. "Under normal conditions, the 1991 tax year is the last year a farmer may include in the five-year block average," says Mike Pylyp- chuk, farm management specialist with Saskatchewan Agriculture and food. This change, coupled with certain other tax reforms and the new Farm Safety Net programs, means farm- ers may have to change their strate- gy when filing income tax. "If GRIP payments increase farm- ers' incomes in one particular year, they may have to devise different strategies to average their taxable income," he says. With the five- year block, they copld do that by averaging it over the five-year peri- od. Without it they will have to claim whatever income and expens- es they incurred -in that year and use the normal deductions available to individuals, such as RRSPs." There are a number of other strat- egies farmers can adopt to reduce their taxable income, Plylypchuk says. Splitting the farm income among several individuals is a com- mon approach. "Income splitting can be achieved through partnerships, joint venture agreements or simply paying a sal- ary to a spouse. It can be done be- tween husband and wife or father and son," he says. In a formal operating agreement income is split relative to owner- ship of assets and contribution to income and expenses, he says. But •le should be cautious in the Close quarters - The Ripley Wolf Cubs found the Stephen Township Novice Kings hard on their heels after the second saw period WD championship final tied 2-2. The Kings h two goals to clinch the title. Ontario champion Condhued from page 20. 213, Hamilton's Michelle Park 221-217, Ottawa Valley's Lynn Mau 288-272 and Niagara's Pam Lutes 315-213 to take the ladies ti- tle. Bluewater 5 Pin Association's Gayle Easun bowled well enough to win a qualifying position in the singles but punched four head ins in the final game to miss the cut by only 108 pins, finishing 16th, with a 2,535 pintail; in a field of 73 competitors. Lyon won his title in easier fash- ion byfirst winning the 10 game qualifig round with a 2,796 pin - fall and then defeating challenger Drat Betts front Niagara, 259.196 n the one game finale. Bluewater 5 Pin Association's Dale Taylor bawled a 2-529 pintail to finish 22nd out of 73 bowlers, missing the finals by just 139 pins. Central Ontario won the Blue Light ladies team title 38-27 over Hamilton. Bluewater Association's team finished 19th out of 24 zones. The Blue Light men's team title was taken by Conestoga 29-25 over York-Simcoe. Bluewater As- sociation's men's team finished 17th in 24. Niagara took the Blue Light mixed team tide 33-25 over Scar- borough. Bluewater Association's team was 22nd out of 24. Bluewater Association's Blue Light bowlers came from Gode- rich, Zurich, Seaforth, Mitchell, Molettworth, Clinton and Listowel. way they approacn income splitting because it is a formal arrangement. The rules governing spousal sal- aries changed in 1989 land as a re- sult are less financially beneficial, Pylypchuck says. The contributor to the spousal salary must now de- duct Unemployment Insurance con- tributions. Since the contributor has to pay benefits, the benefit -- in terms of reducing taxable income -- is less. Buying equipment to take advan- tage of the Capital Cost Allowance (CCA) may be another good strate- gy, Pylypchuk says. But farmers should be aware of the Available - For -Use rules governing capital purchases. "Technically, if you bought a combine in December, you have to take possession of it -- or have it available for use -- to claim it as an expense deduction," he says. "If youugh nd left it at the dealership, tthen i it's not available for use and you can't claim CCA." Farmers should remember that only half of the CCA can be claimed in the first year, he says. All Ontario Peewee 'G' champs GRAND no.... ..� fire BEND - The fire truck in Parkhill was carrying a very hap- py bunch of hockey players around the town, last Saturday everting. Cheers, smiles, agd lots of honk- ing horns greeted and followed the procession. The Panthers team re- turned from Schomberg with the "Sam Curry" Memorial Cup trophy. They defeated Schomberg three games straight and boasted not a loss since Christmas. The final score was 7-1. Parkhill's first goal was notched by Simon Desjardine, followed by one from Ryan Taylor, which proved to be the winner. Michael Stanlake, Aaron Brooks, and Steve Feltz also scored goals. Assisting these marksmen were Shawn How- arth, Ryan Walker, Tyler pesjar- dine, and Jay Truemner. Centre Ryan Sheppard, left the ice in the first period with an injury, and trav- elled to Newmarket hospital, where a broken collar bone was repaired. Players Kevin Steeper, Rudy Van- HooyDonk, Tristan Hatfield, and goalies Matt Wieckowski, and Shane Maguire kept Parkhill on top of this important game. 1980 was the last year that a pee- wee team from Parkhill had won the O.M.H.A. championship, later winning as Midgets in 1983. Coach Jim Brooks said to the boys "you're the best bunch of kids that I've ever coached, you all lis- tened and worked hard for me", as he shook hands with each player. OMHA reps presented the silver cup to captain Aaron Brooks, and assistants Mike Stanlake and Shawn Howarth. Environment dance party LUCAN - Five students at Bid- dulph Central school with the assis- tance of Lucan businesses, parents, high school students, and teachers sponsored an Environment Dance Party at the Lucan Legion on Satur- day March 23 Teresa Lojzer, Verna Willems, Tabby Coddington, Jennifer White 'and Lisa Stevenson formed the En- viro-Club to plan the event and grade 7 students made colourful posters to advertise it. The Environment Dance Party was held to raise money for the Ca- nadian Wildlife Foundation and the Golden Glimpses ZURICH - here is an old adage that says if it s on Good Friday, that is what we'll get for 40 days. Hopefully the same does not hold true of a snow storm. The sympathy of residents and staff is extended to the families of the late Evelyn Denomme, former- ly of Detroit and the Zurich area. When you are housecleaning, we would be pleased to receive greet- ing cards which are no longer valu- able to you. Residents while away a great deal of time cutting and pre- paring them for small greeting cards. Bits and pieces of ribbon any size would also be welcome, as well as odds and ends of jewellery. For readers who are still inquir- ing, the date set for Geri Fashions to be here in the auditorium dis- playing their clothing will be April 16 from 10:00 a.m. to 3:00 p.m. Everyone is welcome to come and browse. Bingo was held last Tuesday eve- ning in the auditorium. Residents who were lucky in winning the Easter Special were: Ann Willem, Elizabeth Gingerich and Clare t Reith. Residents out for the Easter cele- brations were: Aaron Gingerich, Kurt Gebel, Pearl Hopper, Marcella Dietrich, John Soldan,Evenett e Haist, Dorothy Bapty, Oriole West- lake . Elizabeth Gingerich, Lydia. n Regier and Margaret Snell: The Easter Sunday evening chap- w el service was conducted by Rev. ti Ed Laksmanis of Crediton United tit Church. Beatrice Rader presided at the organ during the worship ser- F vice. f Brazilian Rainforest Fund. One acre of Brazilian rainforest can be saved for $25. says the organization. The students were able to raise $215 by charging $1.00 admission to the dance and they sold cans of pop for 50¢ each. All of the pop and snacks were donated by local businesses and individuals. Several prizes from businesses were distributed through- out the evening for spot dances. Sharran, Don and Tracy Colter, Judith Murphy and Mr. Coddington were there to supervise and assist. Lee Wilson, a Medway high school student from Granton brought her stereo and music and acted as the DJ. Lee is a co-op stu- dent who helps at Biddulph Central School every other afternoon. At the end of the evening some students were eagerly asking when he next dance was going to be held. The Enviro-Club members and the adults who supervised are thank - ng everyone who supported the vent, especially the Lucan busi- esses who were very generous in their donations. • The students are now deciding here they will send their dona- ons. They are excited to think ey can make a difference by sup- orting the Canadian Wildlife oundation and the Brazilian Rain- orest Fund. Gongshow at Legion Appreciation Night on April 6, #498 for any coming events, call Saturday, with a banquet, awards George Gallant, 238-2120. and dance music by Bob Findlay The next general meeting for all and The Caledonians. The first comrades of Branch #498 is on Gong Show starts on April 13 with April 15, Monday at 8 p.m. Bob Findlay and..the Caledonians aapart of the entertainment. Don't forget - If you want to book the Grand Bend Legion, Branch Don't forget to book a table for the Open Invitational Euchre Tour- nament at Grand Bend on May 4. Daffodil campaign The Lambton unit of the Canadi- Rend library. It takespp lace tonight, an Cancer Society, begin their an- Thursday,ySaturday cvc- nual door-to-door campaign this ning, anwortth watching. week. Please be generous! A spa- Nancy Thomas will be selling cial play, by the lawyers, will be daffodils in Grand Bend this Fri - performed at the Sarnia Public Li- day, April 5. Decorate this week- brary. For times and information, end with bright yellow daffodils! please check sheet at the Grand • , r TASTY NU White Sliced 24 oz. BREAD Buy 3 Ioevr, nd get ono loaf FREE Prices in effect •til Apr. Rakery & Cheese 11;1 !11 HA* f f2Y 1111,0; 79e per loaf e for 1.99 WE HAVE A WIDE VARIETY OF Delicious DONUTS angl FRESH COFFEE 1 49 dor 8 for 1.89 C►erk-tnasurer retires - Stephen Township's clerk -treasurer Wilmar Wein retired effective March 31. An open house was recently held in his honour. Seen In the back row are daughter Barb Wareing and her husband Paul, along with daughter-in-law Jacqueline and Paul Wein. In the front row am grandchildren Jilllan and Jenna with Wilmar and Lousie Wein. Good. Value Home s urance When it comes to home insurance, good value means: ' • complete protection for your home, apartment or condominium • personalized coverage • prompt claims settlement • competitive rates Good value also means having your policies backed by a company you can trust — The Co-operators. We've built our reputation by providing friendly and efficient service for over 40 years. That's just one of the reasons why we're Canada's leading multi -line insurance company with more than 350 offices nationwide. Call The Co-operators for home insurance. Good Value Froin People You Can Trust Glenda Gardner OR the co-operators Insurance/Financial Services 472 Main St., Exeter 235-1100 I II l 6 IdNi' • tlf>>tl • \I'If 1, , ti