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HomeMy WebLinkAboutZurich Citizens News, 1960-04-06, Page 7WEDNESDAY, APRIL 6, 1960 Are You Interested In Reducing Your Income Tax; Here Are 20 Helpful Flints Mere are some timely tips to help reduce your income tax, 1. Any bribes or "payola" you received last year is considered income by the tax department and you must declare it. 2. Cash "gifts" and "bonuses" from your employer are taxable, But if the bonus was for some sort of mechanical invention or design, then it's considered a "ca- pital gain" and is not taxable, 3. The cost of special, full-time care in a nursing home or hospi- tal for a mentally retarded child is deductible. 4, If you made a profit on a stock, it's not taxable unless buy- ing and selling stocks is your re- gular business. You can deduct the broker's interest charges on stocks bought on a margin, from its dividends. 5. If you gave some income-pro- ducing property to your wife or child last year, you still pay the taxes, But, you can "loan" them the money to buy such a property, Since the tax department can't call a "loan" a "gift", the owner of the property (when the loan is repaid) pays the taxes. 6. Any wages you pay your wife aren't deductible. 7. You can deduct any medical expenses over 3% •of your net in- come instead of the standard $100 deduction, 8. . Fees paid to a qualified doe - tor, dentist, nurse, osteopath, chi- ropractor, physiotherapist or li- lieensed hospital are deductible. 9. Contribution from children for household expenses are not taxable. 10. If you pay alimony, it's de- ductible. 11. Claim $250 exemption for a child born last year. Claim $500 if a child died last year. 12. Ontario residents cannot claim for expenses paid by the TIEMAN'S HARDWARE Plumbing 11eatinc SALES Oil Burner Service el Electrical Work and SERVICE FURNITURE, COAL and CEMENT PHONE 8 — DAS;,.• WOOD 17-tfb 0,18 from Report N Compiled Official figures Co . -Council Tests, 1955-merican 56' Poultry Boost Your Poultry Profi(tstr • RA/SE .DEKALB CHtX`_` McKINLEY FARM AND HATCHERY LTD. R. R. 1, Zurich Phone 697r3, Hensall provincial hospital insurance plan. But you can elaim for expenses paid by all other insurance corn- panies. 13. Dependents can earn up to $950 and still be claimed, A girl under 21, with less than $950 in- come, who got married last year can be elaimed by both her hus- band and her parents. 14, Income for rented property is taxable, but you can claim a de- duction for insurance and main- tenance. 15. If your boss paid your ex- penses for moving to another city last year, the amount isn't taxable as income. 16. If you made money on a real estate deal last year, it's not tax- able unless real estate is your bu- siness or unless it happens too of- ten. 17, Declare any interest the bank paid you last year. The bank itself reports interest payments of more than $100 to the tax department. 18. Expense accounts aren't or- dinarily taxable income. If you're given a set amount for expenses, it is taxable. But if your boss reim- burses you for business expenses it's tax free. 19. Attach only the original, ne- ver the carbon copy of the T-4 slip to your return. The tax de- partment won't accept the carbon copy because some chisellers have tried to file both T-4 slips to get a double refund. 20. File your income tax return before April 30, even if you can't pay your tax just then. There's a fine of up to $500 for not filing. STA •3dITAl DRIVE -IH THEATRE Grand Opening FIRST SHOW Friday And Saturday April 8 and 9 "Shane" (Colour) Alan Ladd, Van Heflin TWO SHOWS NIGHTLY FIRST SHOW AT DUSK SUPER FERTILIZER "Precision Granulation" means completely granular, dust -free fertilizer that always flows freely. . e No clogging or skipping—The controlled range of granule size gives a smooth constant flow acre after acre. d Save time and work—Minutes count in the field. You waste no time cleaning and resetting equipment. s Dust Free—More pleasant to handle—easier to clean equipment. ® Highly Soluble—More phosphorous made available, too. Remember, only SUPER FLOW is precision granulated to give you all these .benefits. order from your or NA i` $''. �q , L FERTILIZER DEALER *, Check Your Tractor Before Spring Rush; You May Save a Life Cheek your safety know-how with safety experts of the Ontario Department of Agriculture, Know- ing (and practising) the right one could save your life. 1. When the speed of your trac- tor is doubled, the danger of tip- ping over sideways is: a. decreased slightly b. increased two times e. increased four times d, increased eight times 2, By replacing the front wheel unit of a row -crop tractor with a wide front-end, the danger of tip- ping is: a. inereased b. not affected • c. slightly lessened d. greatly lessened 3. In collisions involving cars and tractor; a. both drivers have equal chan- ces of being killed b, the driver of the tractor is much more likely to be killed c. the driver of the tractor is a little more likely to be killed d. the driver of the auto is more likely to be killed 4. Which of the following meth- ods is the safest way to pull out of a mudhole or ditch? a. Add weights to the rear wheels b. chain a log in front of the rear wheels c. back out or be pulled by an- other tractor d. remove weight from the front end 5, Children are more likely to have accidents while operating tractors because of all the follow- ing reasons except one: a. they often lack the judgement that comes from years of exper- ience b. they sometimes do not have enough strength to handle emer- gency situations c. their reaction time is slower d. most machinery isn't adapted to fit the size of children 6. By increasing the width be- tween the rear wheels the dan- ger of side tipping is: a. increased b. decreased c. not changed at all d. done away with Answers: 1. When the speed is doubled, the danger of tipping over side- ways is four times as great. When turning, the tipping force is in pro- portion to the square of the speed. Even when the tractor operator is When In Zurich GET YOUR HAIR CUT AT EARL OESCH BARBER SHOP Open Thursday and Saturday Nights YOUR JOB more eggs per dollar OUR JOB CHICKS bred to lay more High production cannot be promised into chicks. It must be built in. SAY ROE CHICKS •.. and get the right ones every time. Famous STONE'S, DEMIERCHIX, TRUE -LINES, .ROE RED and SUSSEX CROSSES. Famed. "HY-LAY" blood fines avail bre and. proven et - FARMS LIMITED ATWOOD, ONTARIO, No high cost franchise payments trying to drive straight ahead, this rule still holds because every burlap turns the tractor to some extend. Three times the speed caused nine times the tipping ha' zard. 2, The danger of tipping is greatly decreased. When the wheels are placed farther apart, the tipping axis is moved farth- er from the centre fo gravity. Therefore, wide front-end trac- tors are less likely to upset side- ways. 3. The driver of the tractor is much more likely to be killed. It's reasonable to be expected since a farmer has practically no protec- tion when seated on a tractor. The worst record ever reported in one state in the U.S. showed that 17 tractor operators died compared to 1 car driver in tractor -car colli- sions. 4. The safest way to get out of a mudhole or ditch is to back out or be pulled out. All others in- crease the danger of tipping over backwards. By backing out you won't tip over backwards. If this doesn't work hitch on to another truck or tractor. 5. Children are no more likely to have accidents while operating tractors because of slower reac- tion time. They react more quick- ly than adults. But lack of judge- ment, lack of strength, and machi- nery not adapted to fit the size of children account for the many tractor accidents involving young drivers. 6. If you increase the width of the rear wheels, the danger of side -tipping is decreased. Reason: the tipping axis Is farther away from the centre of gravity. Keep the wheels at full width except when closer spacing is needed for a particular job. TOP PRICES PAID FOR . CREAM • EGGS • POULTRY Give Us A CaII! O'BRIEN°S PRODUCE Phone 101 Zurich DON'T WASTE GRAIN MIX IT! THE FEED IT! SHUR - GAIN WAY BALANCE YOUR GRAIN WITH: SHUR-CAIN CONCENTRATES EITZ and SIN YOUR BALANCED FEEDING HEADQUARTERS IONE 154 ZURICH rl 4n:21:e1Eq.+,hn•.Ji4:., yi^.: .n.il :re. ;u :ain de..•.F: Iniil:*IA BODY WORK • GENERAL REPAIRS To All Makes Of CARS, TRUCKS, and TRACTORS ARC and ACETYLENE WELDING DESJARDINE AUTO SUPPLY PHONE 38 -- ZURICH 'Whatever your budget You don't have to settle for less than the comfort of a SIMMONS mattress BEAUTYREST , $94.50 DEEPSLEEP . , . 74.50 SLUMBER LING . 59,50 SLEEPY KNIGHT . 49,50 CHARM REST OR ROSEMARY , 39.95 See your SIMMONS family of mattresses on display at e unit PRONE 393 ZURICH NEIVIEMORMIBINNIMMINISVI r