The Goderich Signal-Star, 1975-03-20, Page 4PAG 4,--001)ERICITS1GrAL-STAR, 'mu RSDAY, MARCH 20, 1975
01,
ANOTHER
PLUMBING
INSTALLATION
by
Larry Le Beau
PLUMBING & HEATING
RR. ;; 5 GODERICH 524-9886
BEST WISHES
TO.
RAYPOT:TER & SONS
Q. I understand that I am no used for these purposes. •
longer required to report in-
terest income unless the, total Q. Whoiroi, benefit urkder the
amount I receive in the year is Registered Horne Ownership
inexcess of $1,0 Is this Savings Plan?
correct? . Taxpayers resident • in
A. No. All interest , income Canada, 18 years ofage or over,
received must be reported as in who •• were never previously
prior years. However you may beneficiaries under an RHOSP
• be 'entitled to an offsetting and who are no presently
deduction equal to the amount homeowners may contribute to
of • certain types, of .intperest art RHOSP.
• income reported up to a + +
maximum of ,$1,000. Q. Lam 'a salaried employee ,
To determine the arnount which hnd Ihi T6 pha-Se -specia-l•-• •
you may deduct and the'type of reference books for my work,
interest income eligible for this .Can I .claim these as a
..dectictioni_PIPas.e refer:JO Item deduction for income tax
.35 of the Income Tax Guide purpOses!.5— • "
provided with your income taxA. No. The cost of reference
return and Schedule 4 of the boQks is not an allowable!,
return package. , • deduction from salary received •
+++ • as an employee. You may
Q. -Can a father deduct baby- claim an employrhent expense
sitting,fees from his income? deduction of 3 percent of .your
A. Child care expense can be employment -income, up to $150
deducted by the father if, a ,year.
during the year, hews single,' I +++
widowed, divorced or Q. Can r -claim dental ex-'
separated by Court Order. He penses incurred at a denturists
may also make the deduction if establishment as medical
the mother is incapable of expenSes?
. caring for herself ' or the A. Yes. The stipulations are
children or if she is confined for that the denturist must be
14 days or ..more to bed, licensed, and the expenses
hospital, wheelchair, menta1 aren't paid for by dental in-
ospital or prison. The father's surance plan. - •
•deduction is limited to '$15
+ + +
Week for—each child up to $60 Q. I received interest income
per week. Thesame limitations from several sources' in 1974,
of $500 per child or $2,000 per however, the total amount
year for the whole .family also
apply in this case.
+++
Q. What is the Registered
Hoe Ownership Savings
Plan? „
. - A. RHOSP was introduced in
1974 to -'help taxpayers save
money to buy a home. It allows
a taxpayer to deduct from
income, all amounts,' up to
$1,000 per year contributed to a
Registered Home Ownership
Savings Plan ,(RHOSP). A
person's maximum
contribution is , $10,000.
Investment income of the
RHOSP is accumulated tax-
free ,a'nd when the -taxpayer,
wishes to withdraw allPhis funds
to purchase a home, or home
furnishings such as, essential
major appliances and fur-
niture, the funds are received
tax-frPe to the extent they are
which was received was less
than $1,000. May I claim a
deduction equal to my total
interest income? •
A. Possibly. However, in-
terest ,,-income from certain
specific sources does . 'not
qualify for this deduction.
Before making any deduction,
please review Schedule 4 of
your income tax return which
should answer any question you
may have in connection with
eligible or ineligible sources of
'ItiMreSt InC-oTner- '
• +++ ,
Q. Can, I now claim all the
premiums which" I pay for
Medical insUrance?
No. You may only claim as
a medical expense the
•premiums which you. pay t,:o a
non-government medical or
hospital insurance plan.
+++
Q: What kind of expenses are
deductible for child care? .
A. Deductible expenses in-
clude costsof baby-sitting and
day: nursery care, annd up to
$.15 per child per week for
lodging paid at boarding
schools and camps. If 4,ild
care expenses are t be
decluCtible, • they must be for
care' in Canada: furthermore,
payments for such items as
clothing, trantiSortation,
education or medical care are
not considered to be child care
expenses.
Huron County Federation of Agriculture *.
Do you Have A Beef?
41.
If so, plan to Attend the
BEEF, MEETING
iondesbora Hall, Lonondesboro
Wednesday:, March 26,
170
1:30p.m.
This meeting is to endeavor to find the solution to problems
facing beef farmers today.
The lion lo Winter
Cheryl Langford as Alais and Warren Robinson as Henry 11 prepare for the weekendproduc-
tion of The Lion In Winter, this year's second production of the Goderich Little Theatre to be •
stag6d..at Ma cKa HallA stafLph to • :ftil-Welc_ameLiALCIinton_
Electrical
Contracting
by
Harold Wise Ltd.
Bayfield Rd.
Clinton '482-7062
ratulations
.4"
'
°
"MI N DB LOVV E R"
• BY TENNA CANADA
' (AMPLIFIED Auto SPEAKER SYSTEM)
$74.95
.2 AMPLIFIED SPEAKE'RS WITH ,10 OZ. MAGNET
.OUTPUT POWER -CONTROL
.2 ABS PL.thIC GRILLES
.48 'PT. COLOR - CODED CONNECTING WIRE
.ALL MOUNTING HARDWARE
.SIMPLIFIED INSTALLATION INSTRUCTIONS
40 West St.
Amplifies Ten. Times the Power
of Most Stereos Without Distortion.
1111!. Stereo
524-9344
--------Aiivzzezziaczig- Haws'
LZAS A275
440
'A •
ib-vea\\qc
tV4\\A
Into each life, some
rain must fall.. Be
ready for anything...
look'great in a coat
that doeitti care.
THE SQUARE
OPEN FRIDAY NIGHT TIL 9 P.M.
GODERICH
1111111111.111
MOM
•
to
•
RAY POTTER IL SONS
LTD.
•
Congratulations 1
RAY POTTER IL SONS
LTD.
4
HURON
CONCRETE
SUPPLY LIMITED
SeafEth 527-1206 Getleich 524-7361
Congratulations
to
RAY POTTER & SONS LTD.
on the
OPENING
of their new
LOCATION
'We were proudhte get as general contractors for the
construction
(ALE DOUCETTE
CONSTRUCTION
4 Clinton
482-3348
•