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HomeMy WebLinkAboutZurich Citizens News, 1975-02-13, Page 5THURSDAY, FEBRUARY 13, 1975 ZURICH CITIZENS NEWS PAGE 5 Ontario credits Once again it's income tax filing time and for many•Ont- ario residents it's time to claim their 1974 Ontario tax credits. "The Ontario Tax Credit System is a program designed to contribute greater fairness to Provincial and Municipal Taxation." Arthur Meen, Minister of Revenue, comment- ed. "OTC, as we call it, rel- ates tax credits to an individu- al's ability to pay taxes. This year we expect to return about $375 million dollars to Ontario taxpayers by Means of this system of tax credits. That's about $75 million more than last year, " the revenue Minister noted. The Ontario Tax Credit System (OTC) consists of three credits: 1. Property Tax Credit - This credit may be claimed by most homeowners, tenants, roomers, and boarders, 2. Sales Tax Credit - Any Ontario Tax filer over age 16 on December 31, 1974, may claim this credit if he or she is not claimed as a dependent on the income tax return of any other Ontario resident. 3. Pensioner Tax Credit - Most residents 65 years of age and older can claim this credit which amounts to $110 for a married couple and the same for a single persona In order to claim Ontario Tax Credits, an Ontario resident must file the Federal income tax return, Even if the individ- ual has no taxable income. The Ontario tax credit form is att- ached to a Federal income tax return and both forms must be completed and mailed together, in the pre -addressed envelope provided, to the Federal govern- ment's taxation data centre in Ottawa. The Ontario Tax credit form is simple to complete and the calculations required are not difficult. When a person has determined those credits for which he qualifies, he adds them up and deducts two per cent of his taxable income from that total to arrive at his net Ontario tax credits. "If people have questions about Ontario Tax Credits, I urge them to call us. Last year, my staff answered over 40, 000 inquiries and the same service is available this year, " Mr. Meen said. Outside Metropolitan Toronto, the tax credit information centre at the Ministry of Reven- ue can be reached free -of - charge by dialing "0" and asking the operator for Zenith 8-2000. TED VOOGEL AND SONS BUILDING CONTRACTOR FRAMING Houses & Cottages *Renovations* CUSTOM BUILT Homes Free Estimates! DASHWOOD 12.12.1 PH: 238-2742 l DAS/IW000 and DISTRICT NEWS Correspondent: Mrs. Ervin Rader EUCHRE PARTY There were 15 tables in play at the Euchre party sponsored by the Dashwood Women's Institute at Dashwood commun- ity Centre. Winners were ladies high, Mrs. Elgin Rader; low, Mrs. Valentine Becker; men's high, Earl Dixon; low, Mrs. Martha Weigand; lone hands, Charles Tiernan. The next euchre will be February 18 and 25. DASHWOOD INSTITUTE The February meeting of Dashwood Women's Institute was held in Dashwood Comm- unity Centre with the Educat- ion and Cultural activities group in charge and Mrs. Earl Keller, convener. Mrs. Leroy Gowanlock had members of the Girls Club present and show- ed the members and mothers what the girls were learning. Guest speaker, Larry Weido, spoke on the Metric System. The 4-H girls were present and presented their skits and demonstrations. There were 52 visitors. Three girls were presented gifts for having received County Honors, namely, Susan Fischer, Betty Guenther and Joanne VanRaay. Sheila Willert received a spec- ial award for completing 24 projects. The leaders also were presented token gifts. Mrs. Gordon Bender, presid- ent, dealt with the business. Mrs. Eben Weigand was elected delegate to the Officer's Conf- erence at Waterloo College April 29 to May 1. An invitat- ion from Grand Bend Institute for March was accepted. FIREMEN'S BANQUET The annual firemen's banquet and dance was held Wednesday February 5 at the Community Centre. Guests included Jack and Mrs. Tinney, reeve of Hay Township; Cecil and Mrs. Desj- ardine, reeve of Stephen Town- ship and Mr. and Mrs. Harry Hoffman. The Village Trustees express- ed their appreciation to the volunteer firemen for their serv- ices. Words of appreciation were also expressed by the two reeves. The firemen looked very elegant sporting their new brown sports jackets. Edmund Kraft is a patient in St. Joseph's Hospital, London; Mrs. Ed Stire is a patient in South Huron Hospital. Ken McCrae is a patient in West- minster hospital. Mr. arid Mrs. Mervyn Tieman Mr. and Mrs. Harry Hoffman and Mrs. Ken McCrae spent . Sunday at Richmond Hill with Mr. and Mrs. Norman Evans on the occasion of the latter's birthday. Remember the Euchre parties coming up at Dashwood. Com- munity Centre. Miss Idella Gable A.R. T. announces results of her Grade 5 piano students: honors, Carol Rader, and Elizabeth Datars, pass; Sandra Kraft and Brenda Miller. Floor Covering ALL TYPES Wall to Wall ALSO AVAILABLE Rugs B rr's more, (:r'ossle'v. k ilr'iastan. t rnrsir'onor. 0/Ales VIt•. ALSC) (:a►rlr►n.. (;It;hie�n 11oor eke. FREE ESTIMATES WE INSTALL Westlake furniture PHONE 236-4365 - ZURICH Roger Dowker Manager Exeter 235-2111 Arranging a Registered Retirement Savings Plan is as easy as 1 2 3 51 • A lot of people look forward to their retirement. But they don't look forward to a reduction in income. That's why the Royal Bank has available three separate Registered Retirement Savings Plans. If one doesn't suit your needs precisely, you can choose a mix of two, or all three. Current tax legislation permits you to deposit up to 20% of earned income to a maximum of $4,000 annually if you are self-employed or do not have a registered company pension. if you do have a registered company pension plan your combined contributions may be up to 20% of earned income to a maximum of $2,500. Your contributions are deductible for tax purposes. Give me a call today. I can assist you in making a meaningful choice. 1 Royal Bank Retirement Deposits. 2 Your contributions will be placed in a special deposit account and you will receive an interest return geared to the general deposit rate structure. Because of the long-term nature of the deposits we expect the interest rates to be at the upper end of the scale. Equity Fund. Your contributions are placed principally in Canadian common stocks. This portfolio is managed by professionals, hacked by investment analysts and economic consultants, who also manage well over $100 million for other people and corporations. The emphasis here is in long-term capital growth with reasonable rate of return. 3 Income Fund. Your contributions are invested in high -yield bonds, deposit instruments and in mortgages insured under the National Housing Act. The portfolio is managed by the same professionals, whose policy here is to achieve as high a current income as is compatible with main- taining reasonable price stability as well as moderate capital appreciation. 3 Registered Retirement Savings Plans for you. Mt ..ate ROYALBANK starving Ontario serving you