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Home My WebLink AboutThe Goderich Signal-Star, 1979-03-29, Page 10PAGE 1.0--GODERICH SIGNAL -STAR, THURSDAY, MARCH 29, 1979 Tax Tip Q...1 have a bank account and my interest amounts to $28. The bank will not issue a T5 information slip because It is less than $50. Does this mean that I do not need to declare the $28 interest? A. No. Even though the bank does not issue a T5 slip you must report any interest as income. + + Q...I filed my income tax return a week ago, but yesterday I received another T4 slip I had forgotten about. What should I do? A. If you have already received your Notice of Assessment, send a copy of your T4 slip to your District Taxation Office together with your name, address and Social Insurance Number. If you have not received your Notice of Assessment, send a copy of - your T4 slip with the above information to the Taxation Centre serving your region. Above all, do not file a second return. +++ Q... Since filing my income tax return, I have been transferred to another province. I am expecting a refund. How do I notify the Income Tax Department about my change of address? A. You should write to the Taxation Centre serving your region, giving your full name, new address and any other identification, such as your account num- ber, Social Insurance Number and your previous address, and advise that you are expecting a refund. (You should also notify your post office and your former District Taxation Office of your change of address.) • +++ Q... My Social Insurance Number printed on my personalized tax return is not the same as the number on my T4 slip. How do I correct this?, A. If your Social Insurance Number is incorrect on your T4 slip, notify your emplloyer and ask him to make the necessary correction. If the number is in- correct on your income tax return, cross out the wrong number and enter in the correct number. ++ Q. I understand that'1 may be eligible $tl_-claim two federal tax reduction's this year. Please explain. A. Most people will be able to calculate their tax by using the Tax Table at the back of the 1978 Tax Guide. If this is the, case, you can find your General Tax Reduction in"the Tax Table beside the range in which your. "taxable income" falls. Howevdr if you use the detailed method to deter- mine ,•jiour taxable income your General Tax Reduction will be calculated on Schedule 1. You may be eligible to claim an additional tax reduction of $50 for'each child who was born in 1961 or later, a resident Al Canada and claimed as a dependant on line 43 or line 44 of your return. • For more information see Guide Item 50 in your 1978 Tax Guide. +++ ry How do I calculate my education deduction? A. You sheuld multiply .$50 for each month in 1978 during which you were in full-time attendance at a qualifying educational institution. Your claim should be accompanied by a fully completed "education deduction certificate" form T2202A or form T2202 issued by the educational institution which confirms your enrolment in a qualifying program. For more details see Guide Item 42. +++ Q. To claim the Child Tax Credit must I file a tax return if I did not have any income? A. Yes, the only way, you can claim the Child' Tax Credit is by filing an income tax return. In your case you would simply complete the "Identification area" on page 1, of the return and enter a "0" for income on line 60 of page 2. -Then you would calculate your credit on Schedule 10 and complete the bottom portion of page 4 of the income tax return. Remember to attach Schedule 10 ("Child Tax Credit for 1978") and a copy of the TFAI information slip ("Statement of Family Allowances") you received from Health and Welfare, Canada indicating the number of children you are eligible to claim. The number of children is usually shown in box (F) of the TFA1 slip. It is possible that a child is not shown in box (F) but is still considered eligible for the credit, as in thecaseof a child born in December 1978. In that case to claim the Child Tax Credit you would need the award letter sent to you by Health and Welfare Canada confirming your eligibility to receive family allowance for that child. Formore information on how to claim the Child Tax Credit read the instruction sheet attached to Schedule 10 sent to you by Health and Welfare Canada. A fact sheet and a guide "How to. Apply for the Child Tax Credit" is available at your District Office (of Revenue Canada, Taxation),. • + + + Q. I am a widower with two dependent childrenCarol is 16 and Ned 10. I understand that I can claim the equivalent -to -married exemption for one of my children. Which one should I claim it for? A. The claim for a dependent child 16 and older is greater than the claim for a child under 16. Therefore, -it is usually more advantageous to claim the equivalent -to -married exemption for the younger child. This would allow you a greater total deduction. Your claim, however, will be affected by your children's net income. For more information askryour District Office for the pamphlet "Income Tax and The Single Parent". + + + Q. I earned $9,500 last year. What amount can I claim as my "employment expense deduction"? A. Your employment expense deduction is equal to three percent of your wage and salary income up to a maximum of $250. in your case, you can claim the full $250. +++ Q. What kind of expenses are deductible for child care? - A. Deductible expenses include costs of baby-sitting and day nursery care°and up to $30 per child per week for lodging paid at a boarding school or camp. Payments for such items as food, clothing, tran- sportation, education or medical care are ,not con- sidered to be child care expenses. +++ Q. 1 received a scholarship last year and had to move away from home to attend 'full-time courses at a university. Can 1 deduct my moving expenses? A. Yes. If you moved to attend full-time courses at a •university or other post -secondary educational in- stitution in Canada you may deduct moving expenses, but only if these are claimed against award income such as scholarships, fellowships, -research grants and similar awards. The moving expense may not exceed the amount of award income reported on your tax return. Be sere to include Form T1 -M with your h. come tax return. ' JisMr Do -It -Yourself satin At Discount Dave's you'll find everything you need to make your home look bright and new again. The latest carpet fashions. The newest designs in panelling. Themost sought-after innovations in plumbing'fixtures. The most elegant lighting fixtures. Everything you need. Hese are just a few of the many items on sale. 1t t 4 -FT. FLUORESCENT FIXTURE Our Usual Cash & Carry 29.95 24 • 9. 5 Complete with Clear Wrap -Around Light Diffuser YOU SAVE 5.00 on the FIXTURE ITSELF ... AND YOU GET 2 COOL WHITE TUBES AT NO EXTRA COST! Hurry, Offer Expires April 7tt Save 25% Off Our Usual Cash and Carry Prices ON THESE THREE BEAUTIFUL PANELS DI INDIAN ROSEWOOD lei ll\.R Your Choice Our Usual Cash & Carry 7.99 each And they're first quality, full size 4'x8' hardboard panels! Each a simulated wood print that's designed _to _enhance any_ _ decor. INTRODUCTORY PR/CE! SAVE on READY -TO -FINISH FURNITURE You can paint them, stain them or varnish them. Here are some of the„ items- on sale. - 5 -DRAWER • CHEST SHOWN . 48.51 #125 STUDENTS DESK Now Only 59.87 • #110 SINGLE WARDROBE 52.21 #100 NIGHT TABLE 27.07 SAVE on this WASHERLESS DECK FAUCET m, -,q(•• 8»OU It's made by Peerless, and because it's washerless you' never have to buy another washer again. 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Phone193-7901 • CHARG F:X [m.arVISA , OWEN SOUND Sprinpmnant Corn reessakkaneeracr Grey County Mall Your Visa and Master Charge cards are as good as cash Here's a luxury carpet at an aifordable price! It's called FINESSE, and it comes in eight fashionable colors including Butternut, Sandy Cove, Flamenco Flame, Cafe Noir and Blue Mood. The beige foam rubber Q underpadding lets you save on labor costs because you can easily trim it to fit. Comes in 12' width. CUSTOM INSTALLATION' by trained installers available at extra cost PLEASE NOTE: Our Usual Cash & Carry Price Effective April 8 is 13.95 odd. MULTI -COLOURED DYNA SET CUT LOOP Quality Made by HARDING 0 0 sq yd. You Can't Go Wrong With Spred Satin It spreads easily. It gives a soft; beautiful finish. And it comes in an almost unlimited range of colors. Dries in 20-30 minutes, and because it's a latex you can clean up fast with soapy water. HOME CENTRES LOTS OF FREE PARKING On Highway 21 at Spnngmounl Corner Phone 316-.1181 Hwy 21 North opposite the Sutton Park Inn. Phone 3913403 Delivery And Credit Term's Available At ExtraCast 16 BRANCHES: AMHERSTBURG EXETER GODERICH GRAND BEND HARROW KINCARDINE KINGSVILLE KITCHENER 7362151 235-1422 5248321 2382374 7382221 396-3403 733.2341 893.7901 Kitchener• Out-of-town call free: 1-800-265-8204 OWEN SOUND N-3181 RIDGE TOWN 874 5465 SOUTHAMPTON - 797-3245 THEDFORD 296.4991 WEST LORNE 768-1520 WINDSOR EAST 72-7-6001 WINDSOR WEST 734.1221 MATTHEWS 2541143 hH STORE MATTHEWS HOURS 'MON •THURS 8 A M •6 P M FRIDAY 8AM•9PM SATURDAYS till 5 30 P M KITCHENER WINDSOR EAST WINDSOR WEST MONDAY thru THURSDAY 8AM•530PM FRIDAY till 9 P M SATURDAY td1 5 30 P M KINCARDINE MON.-SAT 8 a m to 5 30 p m Amherstburg, Godench, Kingsville, Owen Sound, West Lorne, Harrow, Rtdgetown, Southampton MON -FRI 8am • 5 30 p m , SATURDAY 11114 p m Exeter, Thedford and Grand Bend MON -FRI. 8 a.m •5 30 p m . SATURDAY till 1 p in All Prices Shown are Cash & Carry Spruce strapping in 8 -ft lengths now on sale. rer SAVE on 3 PATTERNS Z -BRICK ON SALE Special! Your . Choice OLD CHICAGO INCA WHITE or INCA USED - Now Thru April 7th CARTON OF 30 BRICKS Now you can create a new exciting- en- vironment in your home. Transform a drab wall into a eye-catching centre of interest. Solve a problem corner. And you can do it yourself with easy -to -install Z -Brick. Carton of 30 bricks covers up to 6 square feet. DELIVERY AND CREDIT TERMS AVAILABLE AT EXTRA COST F annew Park Mall Teri:Way KITCHENER 589 Fairway Road South neat the Mall. Phone193-7901 • CHARG F:X [m.arVISA , OWEN SOUND Sprinpmnant Corn reessakkaneeracr Grey County Mall Your Visa and Master Charge cards are as good as cash Here's a luxury carpet at an aifordable price! It's called FINESSE, and it comes in eight fashionable colors including Butternut, Sandy Cove, Flamenco Flame, Cafe Noir and Blue Mood. The beige foam rubber Q underpadding lets you save on labor costs because you can easily trim it to fit. Comes in 12' width. CUSTOM INSTALLATION' by trained installers available at extra cost PLEASE NOTE: Our Usual Cash & Carry Price Effective April 8 is 13.95 odd. MULTI -COLOURED DYNA SET CUT LOOP Quality Made by HARDING 0 0 sq yd. You Can't Go Wrong With Spred Satin It spreads easily. It gives a soft; beautiful finish. And it comes in an almost unlimited range of colors. Dries in 20-30 minutes, and because it's a latex you can clean up fast with soapy water. HOME CENTRES LOTS OF FREE PARKING On Highway 21 at Spnngmounl Corner Phone 316-.1181 Hwy 21 North opposite the Sutton Park Inn. Phone 3913403 Delivery And Credit Term's Available At ExtraCast 16 BRANCHES: AMHERSTBURG EXETER GODERICH GRAND BEND HARROW KINCARDINE KINGSVILLE KITCHENER 7362151 235-1422 5248321 2382374 7382221 396-3403 733.2341 893.7901 Kitchener• Out-of-town call free: 1-800-265-8204 OWEN SOUND N-3181 RIDGE TOWN 874 5465 SOUTHAMPTON - 797-3245 THEDFORD 296.4991 WEST LORNE 768-1520 WINDSOR EAST 72-7-6001 WINDSOR WEST 734.1221 MATTHEWS 2541143 hH