The Goderich Signal-Star, 1975-03-27, Page 13•
•
Q. My employer states that
the portion of, the medicare
premiums that he pays on ray,
behalf must be included in my
income. I's this correct? '
A. Yes. The benefit derived
from an employer's con-
tribution to a public medicare
plan is a taxable benefit, and'
must be included with your
other income from ern-
ployment. The employer's
contributions to private. health
services '.
l
pans, -'such as the -Blue•
cross -are still exernfit.. .
Q. I am employed as a garage
mechanic and have to provide
my own tools. These cost me
$500. When completing my
income. tax return, can I claim
this expense as a:deduction?
A. No The cost of tools is not
deductible from salary or
wages;, nor may you, claim
capital cost allowance on them.
You may, however, claim an
employment expense deduction
of 3 percent oT your em-
ploymentincome, up to $150 a
year.
Q. I am a transport employee
and I do have certain travelling
and away -from -home ex-
penses. What records are
necessary to prove my'elarn'
for these expenses when filing
my income tax return?
A. If you are an employee of
an airline, railway, bus or other
transport company carrying
goods or passengers and you
are required to travel regularly
away from the municipality or
metropolitan area where you
report for work, you may claim
actual expenses for meals and
lodging while away, minus any
arnount reimbursed by your
employer. Information from
your detailed record's should be
shown ,on form TL2 and filed
with your return. There ' is an
Information Circular 73-21
available on this subject.
Q. Must I keep receipts for
child care expenses?,,
A. Yes. Deductions Maimed
for child care expenses must be
supported by receipts. The
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I ' it,/ hl'(1 (lcil/ ye tis,
`tr
name and' address and 'Social
Insurance Number of the
person to whom you make,
payments for child care must
be provided on all receipts. You
will not be required to attach
these receipts. to ypur return
but you must keep them in the
event the Department wishes to
inspect them.
-f- A-
Q:
Q I receive,- approxtmatery
$-700 a year interest income:
Can I deduct the $1,000?
A. No, The deduction is the ,
lesser of the'qualifying interest
income or $1,000. This is shown
on Schedule 4 which ac-
' companied your tax return.
Q. If a wage earner, for
example, moves fn 1974, how
does he determine if he,
qualifies for themoving ex-
pense, deduction? Can you tell
us briefly what the rules are?
A. The most important rule to
keep in mind is that moving
expenses may be deducted
from income if you move to:7a'
new residence to earn wages in
a new location in Canada, and
your new residence is at least.
>7725 ' miles closer to your new
place of work than your former
residence was. You sliould'also
remember that moving ex-
penses may be deducted only
from income earned at a new
place of work or business. "
+ + +
Q. Can I claim as moving
expenses the cost of ' tran-
sportation, food and lodging§
spent trying to establish a new
residence before . I actually
terminate my'' present em-
ployment?
A. No. You must have ceased
your employment at the former
location.
+++
,Q. Where. can I apply for' a
Registered Home Ownership
Saying's Plan and what types of
investments may I make unde
these plans? -
A. Most trust ;companies will
accept applications for an
-RHOSP, and only `qualified
investments may be made.
Trust companies generally
Offer .one or mote fonds' -which
contain qualified investments,
thus allowing you to select 'the
fund you wish to invest in,. The
,common ones are often -
referred to as equity funds,
guaranteed funds and ' mor-
tgage funds.
•
the amount actually spent on
child care provided it does not
exceed the least of :
- $500 per child, or
- $2,000 for the family, or
- two-thirds of the taxpayer's
earned income for the year.
Child care expenses are not
deductible if they are paid to a
person claimed as a dependant
for tax purposes py either of the
parents, is or
to
a person
under 21
who is related to either.�parent
byTblooct; marriage or adoption.
Also, .'any allowable deduction
for child care expensesmustabe Ar a+
supported by a receipt which
indicates' the name, address
and Social Insurance Number
of the , person to whom
payments were made.
i1Y
Grand Bend playhouse
plans iaEtSeason,
more shows
The Huron Country
Playhouse will have a longer
season in 1975, and a new two
-
cast, touring program that will
double the rehearsal time for
each show. ,
Managing director lames
Murphy said there will be one
cast for plays and another for
musicals, The theatre will
alternate between the two types
of shows throughout a 10 -week
season.
Each show will run for four
days in the Playhouse at Grand
Bend and then will tour for five
days the following week. While
a play is on tour, a musical will
be running at home; and vice
versa.
The season will open June 25
with a'comedy, Barefoot In The
Park, ,followed July '2 by a
musical, 0! Coward! 01.July 9,
drama takes over, in a
production of The Glass
Menagerie, and on July 16 it's
back to music with You're a
Good Man, Charley Brown.
The Importance Oft, Being
Earnest opens July 23, fbllowed-
by Dames At Sea on July 30,
The Owl And The Pussycat on
per week
Aug. 6 and Hello Dolly on Aug.
13.
The season will wind up with
revivals of the summer's most
popular play Aug, 20 and the
most popular musical Aug. 27.
The new system will allow
two weeks of rehearsal for each
show, Mr. Murphy said.
Previously, the PIayhouse has
had only a single week to
prepare each new production.
The tours will take in Kin-
cardine, Hanover Owen Sound
and at least two other locations
Millsaidnot definite, Mr, Murphy
Footings are being poured
this week for the new theatre
,that will replace the Playhouse
tent. The theatre will rise just
northeast of the tent site, and
will connect the ticket office
with the barn that serves as
rehearsal area, scene° shop,
wardrobe, art gallery and
lounge,
The theatre will be open this,
summer, Mr. Murphy said,
"not totally finished perhaps,
but usable." It will seat 500,
compared to the tent's capacity
of 362.
Rights of non-smokers
topic of meeting
Strafford office
in
An interested groua of
pie
-the-Huron--PerthLung
' Association office, 121
Wellington St., .Stratford,
recently, to discuss r' the for-
mation of 'a "Nori-Smokers
Rights" Committee to promote
Pensions going up
•
Increase in April
Some 700,000 old age pen-
, siows in Ontario are going to
"get increases in Old :Age
Security . Pension and
Guaranteed Income Sup-
plement payments 'beginning
this April, Health and Welfare
Minister Marc_ ,Lalonde an-
nounced today.
Thea increases represent the
sixth, quarterly escalation
based on the cost of ,living, as
provided for in the OAS Act.
The new monthly total at the
singled rate 'for persons
receiving both the basic Old
Age Security pension and
maximum Guaranteed Income
Supplement will be $209.99.
'For a married couple who are
both pensioners, the:. Com-
bination of the 'basic pension
and rnaxium supplement will
provide a total payment of
$400.60 monthly. .
The basic Old Age Security
pension ''will rise in April to
$123.42 .from the present
$120.06. ,
The maximum Guaranteed
Income Supplement for a single
person, or. a married person
whose spouse is not a pen-
sioner, will go up in April to
$86.57 from its cuiirrrent $84.21.
The maximum supplement for
a married couple, both pen-
sioners, will increase to $76.88
each from,the present "$74.79.
Addedrto thbasic pension, this
will give' each married pen-
sioner $200.30 monthly, or a
total of $400.60 for the couple.
BUSINESS
DIRECTOR
DIESEL
-Pumps and Injectors
Repaired
For All populaf' Makes
Huron Fuel Injection
Equipment
Bayfield Rd. s 482-7971
+ .i- •
Imo;
Q. 'How much may be
deducted for child care ex-
penses and, does it matter to
whom -the payments are made?
A, .A taxpayer may deduct '
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1-
ACCOUNTING AND TAX
SER VICE
ARTHUR -R, TUCKER C.G.A.
Certified General Accountant
Vit•trtrla NIvd , \'ana4tr8
Brix 457, Clinton
ti - 4$2-;17,17
CHISHOLM
FUELS
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INDUSTRY ' •
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524-76'81
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The Square
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ANDERSON'S
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33 •EAST St
Goderich
For
FASHION
RIGHT
SHOES
The Place To Go Is
ROSS
SHOES
The Squa'e
• C'odt>tl( h
the rights of the non-smoker,
'whether suffering eart
disease, .asthma, chronic
bronchitis, emphysema or lung
cancer or not.,
The Rehabilitation .4 Com-
mittee Chairman of the
Association, Miss Verna
Dunsmore,'207 Easson St., was
in charge , of the discussion,
assisted by Mrs. Beryl
Davidson,„Executive Director.
The group decided to- take
personal action whenever
possible and. .meet again for
further decisions.
•
GODERICH SIGNALSTAR, THURSDAY MARC1-T'27*' ,
ReadyourTaxGuji
It will tell you what'd
This year. the Federal Gtvernment
has..included many new tax benefits that •
are important to you because they could
save you money,
' Y ur federal income Tax Guide
explains them thoroughly,
Let's take the Interest•'Income
Deduction as an example. This year for the
first time, if you received and reported on
your' income; tax form interest interne from
many legirimat. Canadian sources,
including bank deposits, bonds, mortgages
and notes, you are allowed to claim as a
deduction the total of the amounts up to
$1,l0H). •
Your Tax Guide explains it in detail.
Check Item 35,
Increased Personal Exemptions is
another item that has changed from last
year. All is means is that the Federal '
Government has increased your personal
exemptions to coincide with the rise in the
Consumer Price Index. The new personal
exemptions are printed on your income tax
form. Guide Item •11 tells you more about it.
Well, those ate lust some of the areas
where it pays to follow your Tax Guide and,
of course, there arc others. The Federal
.Political Contribution Tax Credit is new as
well. Guide Item 52H will tell you all
about that one. This year, Family,Allowance
a0
Payments are income and have to bc'
declared as such. Check Item 7.
Remember to check some of the ether
items listed in the Tax Guide_which may
entitle you to claim deductions,• such as
Child Care Expenses. Guide Item 3 tells
you all about that one. And you may be
entitjed to deduct your Moving Expenses if
you moved during 197.E to earnincome in a
new Ideation in Canada. Check Item 34B
carefully for the details.
And don't forget, if you have
contributed to a'Registered Retirement
Savings Plan, be sure to include your ,
receipt and deduct the allowable amount.
Guide Item'29 explains it in detail.
Use, your Tax Guide and fill in your
tax form carefully, step by step. ,you'll find
it's not as difficult as you"think,
If you should have difficulties,
however,. District Taxation Office addresses
and telephone numbers are listed On the
hack page of your Guide.
Tax Guide '74, How long has it been.
since you've read a really good hook?
We're making it
easier to understand:
14, Revenue Canada Revenu Canada
Taxation Inux�l
lion Rion Baston1
Minister
5
Ron Bastordt
Illln 1st ('
rkx G
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