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Home My WebLink AboutThe Goderich Signal-Star, 1987-07-01, Page 7GODERICH SIGNAL -STAR,. WEDNESDAY, JULY 1, 1987—PAGE 7 Business A group of teachers from. Goderich .District Collegiate Institute received an education on the operation of an international manufacturing company recently as part of a co-operative educa- tional exchange between GDCI and Champion ,Road Machinery Ltd. Champion employees will also be taking upgrading classes , the local high school. Here, Marketing Director Bill Metcalfe con- ducts an introductory session with the teachers. (photo by Patrick Raftis ) OFA reactionto tax reform is mixed Brigid Pyke, presidtrt of the Ontario Federation of Agriculture 1 OFA) welcom- ed the retention oft the $500,000 capital gains exemption for farmers, but said other provisions announced by Finance Minister, Michael Wilson will unnecessari- ly complicate farmers' business and tax practices. "Farming is highly capital intensive, and farm property is usually the only retirement -fund a farmer has. So there are very good reasons why the proceeds from the sale of farm property are given special tax treatment. However, the benefits of this capital gains exemption are blunted by the existence of a minimum tax, and there was no signal from Wilson that this is going to change." said Pyke. The OFA president pointed out the tax reform proposal sets new restrictions on the definition of farm property that would qualify for the exemption. Farm'property acquired today would have to be held at least two years, and ross income, from farm operations hase greater than net income from other sources in order for the property to be classified a farm asset. Pyke further objected to the announce- ment that farmers are going to have to file taxes on a "simplified accrual" ,system. "To a farmer" said Pyke, "that's a con- tradiction in terms: It may be simplified. for Reven ,in Canada, but not for us." Nine- ty two percent of Canadian farmers presently file under the. cash accounting method. "I'm suspicious that this may be the start of -the -government's move to veer the calculation of farm taxes toward a solely accrual basis." Fanners who have had to seek work off - farm to supplement meager farm incomes have not had their tax affairs simplified by the tax reform proposal. Neither have they gained the ability to forward plan, said Pyke. The Ontario Federation of Agriculture and the Canadian Federation of Agriculture presented a proposal to the finance department that would have met these two objectives, but the. Wilson state- ment did not capitalize on the farm organizations' recommendations. "This white paper does not introduce any more certainty into tax planning for dual -income farmers, nor does it change until 1992 the requirement that farmers `meet a very subjective 'reasonable expec- tation of profit' criterion that we've found a problem for so many -years." com- mented Pyke. As for the possibility of a national sales tax — and the alternative of developing a business transfer tax or a value added tax — the leader •of. Ontario's largest farm organization said farmers will'have to pay strict attention to the implications of greatly increased taxes on their inputs and how this will affect the supermarket prices. consumers will face. Book Agricrew now for August Agricrews, for . both the north and the south of the county, are working hard, these days. Various farmers have booked • the crews to do different jobs around the farm, such as picking stones, haying, fenc- ing, etc. Already, the crews are booked solid until July 27, 1987. If you have a date in mind, when .you may need a crew, please call Susan Diemert (Huron North) or Donna Kieffer ( Huron South ) at 482-3428 or 1-800-265-5170. A crew consists of four members, which work for eight hours a day for $90. Book now for August and avoid disappointment! ! ! ! a Applications are:still being accepted for the position of Alternate on an Agricrew team. If you enjoy agriculture and work- ing outdoors, please phone the above number. Openings are constantly available. ' 4iGoderich Sunset Golf Club and Driving Range COME OUT AND PLAY! Book your weekend tee off time now - Reduced rates after 2 p.m. Hwy. 8.3 Miles North of, Goderich 524-8047 Save on all Brother Smith -Corona and Olympia models "automatic centre, word erase, dual pitch" Grayhurst PORTABLE ELECTRONIC TYPEWRITERS 0/0 OFF Business Supplies Ltd. 111111111111111Wdc38 East Street,Goderich /, 8f. "we', %am/' cAnal thiE LUL.rL9 Ealy .. Open 7 dap; a week. Fridays till 9 1'/4 mhos south of Grand Bond on Hwy. 21 $38-2818 i••• R. J. and Phyllis Ballantyne, formerly of Waterloo are the new owners of Shelter Valley campground, four miles south east of Goderich on Highway 8. The Ballantynes took over from former owners Ray and Marlene Bush and Family, who started the bussiness in 1977. The family 'C'ampground offers seasonal and overnight camping and features: fishing, swimming pool, recreational program, modern washroom and laundry facilities and a con- venience store. (photo by Patrick Raftis) Book gains recognition Within five weeks of the release of his sixth book aid first –to gain national distribution, Goderich native Rob Slider. has been the focus of considerable atten- tion from radio programmers across Canada. Already he has..booked 11 interview or open -line appearances in four provinces, national radio interviews on CKO and CBC FM networks, and has also been interview- ed on TV for CFTQ's "Toronto Today". A . two-month radio series named for the book, "The Ultimate Shopper", has been accepted for broadcast by eight stations in four provinces. •His offbeat consumer -manual has a so attracted the interest of the Consumers' • Association of Canada, publishers of Cana- dian Consumer Magazine, who were con- sidering it for use as. a subscription premium. Unfortunately, his off-the-wall sense of humor, unusual in a book of this kind, has been one of several minor impediments to getting the book into bookstores. Thus far, he say most of the media people who have read the book expressed enjoyment of his unusual approach, andmany found it to be a valuable resource, but the wholesalers and book chains, on whom Rob was coun- ting for distribution of the book, have been hesitant to take it on. "This isn't the first time this has happen- ed to me," Rob says. "I lost a public speak- ing contest in high school with a very funny speech, but it didn't go over because it was about how to commit the perfect murder." Still; he's enjoying the national attention and counting on this publicity to make the big booksellers sit up and take notice. When it Comes to Customer Service... /31 TheSky's the Limit! The Oil Gard Balloon flyinghigh above our building signals your spot to a better job. Quality products, fast efficient service and ev government seal of approval Anti -rust will gi a you the best possible protection for . your car.. "Committed to Protecting Your Investment" Oil Lube & Filter • $195° NO APPOINTMENT NECESSARY 011 GARD CAR CARE LIIBE !AY 50 PIC.TON ST. EAST, GODERICH 524-9094 ' Guaranteed Investment Certificate 101/4% 5 Year Term Interest paid annually minimum deposit $500 Rates subject to change without notice Guaranteed Investment Certificates 7X% 30 89 DAYS Interest paid at maturity. Minimum deposit $5000 Special rates on amounts over $50,000. Rates subject to change viFitho ! t notice. Higher Interest on Your Investment$ 'draftier STANDARD TRUST 138 The Square, P.O. Box 295 Goderich, Out. N7A 3Z2 Tel: 524-7385 .uIala Ih'I i'rt Imuramr i orprir;uuni