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HomeMy WebLinkAboutZurich Citizens News, 1975-04-17, Page 2PAGE 2 Jottings by Jack from Queens Park On April 7, the Provincial Treasurer brought down the new Ontario Budget, and following are some of the highlights, which will be debated in detail in the Legislature. Effective April -8, the basic Retail Sales Tax will be 5a/o instead of 7%, although this is only until the 31st December, 1975. The Ontario GAINS rate will rise to $240 per month per pers- on ($480 a married couple) as of the 1st May, and a further 7, 000 pensioners will be eligible for GAINS, raising the total number of beneficiaries to 310, 000 this year. There will also be free drugs for all those over 65, although anyone who has lived in Ontario less than ten years must apply to the Min- istry of Revenue. This will be effective August 1. Some 450, 000 low income taxpayers will be removed from the Ontario income tax rolls in 1975. No income tax will be paid by a single person earning $3,583, a married couple with '$5,323 annually, a family of four with $6, 033, and a single pensioner with $5,547. There is to be a grant to first- time home buyers to encourage an increase in home ownership. Anyone purchasing or building a home for the first time will be eligible for a $1, 000 grant from the Province, plus an add- itional $250 in each of the two succeeding years, for a total of $1, 500. This program remains in effect until December 31, 1975, only and covers both new and used homes, applying regar- dless of the price of the home or the income of the purchaser. To qualify the home must be the principal residence of the applicant, and title or possess- ion must be taken during the eligibility period. However, this $1,500 cannot be used to- wards a down payment, because it is only paid after the deal is closed, and the 2nd and 3rd instalments of $250 each are only paid if ownership is retain- ed. Retail Sales Tax is to be elan• mated on all purchases of prod- uction machinery and equipment effective April 8, and this applies to orders for machinery and equipment placed on or after that date and before Jan- uary 1st. The maximum small business tax credit will be doubled from $3, 000 to $6, 000 annually, and there are also changes in the succession duty and gift tax. Ontario will introduce meas- ures to supplement where nec- essary the federal Agricultural - Produces Stabilization Act curr- ently before the House of Com- mons, and owners of managed forests who are resident in Ont- ario will be eligible for a rebate of 5 0% of property taxes on forests. In connection with the Prov- incial Sales Tax, effective July 1st, 1975, vendors will he paid compensation for costs incurred in collecting and remitting sales tax. They may withhold 3% of tax collected up to a maximum of $500 in any fiscal year. • I'shall elaborate on these measures and others contained in the Budget in the coming weeks, and wild report to you on the debates in the Legislat- ure upon these measures and the estimaes of the individual - ministries. Liberal Leader Robert Nixon's initial reaction was to charge the government with "fiscal irresponsibility" in bringing down another deficit budget. This government has "added a $4 billion net debt to the Province in the four years since Mr. Davis became premier." In this 1975-76 budget, government spending is increased to an estimated $10.2 billion from the $8.7 billion spent in the last fiscal year. The deficit, includ- ing non -budgetary items, is estimated at $1.67 billion comp- ared with $1.03 billion expected for the fiscal year ending March 31st, 1975. Mr. Nixon asked "How can we possibly stand the kind of fiscal irresp- onsibility that this treasurer is putting forward in a situation which is... inflationary?" Many other Opposition Mem- bers described the budget as cynical, irresponsible and a deliberate vote -catcher. Steph- en Lewis, referring to the sales tax reduction being effective only until the end of the year, said "It is cynical in the ext- reme to reduce it just for the period of an election." He said "It's a terrible budget. This isn't an economic document. It's a political document." School students anticipating post -secondary education will be pleased to know that the Ministry of Colleges and Univ- ersities will make available to students in the 1975-76 academic year nnore financial assistance, including two new student assistance programs. The new programs are the Ontario Student Loans Plan, which is intended to help many of the students ineligible for aid from the Federal Govern- ment's Canada Students Loan Plan, and the Ontario Special Bursary Program, which will provide up to $500, 000 to help the most needy part-time stud- ents. Ontario Student Assistance Program provides assistance to full-time post -secondary stud- ents who are unable to pay the full costs of their education and related expenses. About two out of every five students in Ontario receive financial aid from this program. Over a normal academic year students eligible for assistance receive the first $$00 as a loan under the Federal Government's Can- ada Students Loan Plan, which is administered through OSAP in Ontario. Students who qual- ify for additional assistance received it from the Province ZURICH CITIZENS NEWS in the form of a non -repayable grant. Board and lodging allow- ance for students receiving aid fro, OSAP and living away from home will be increased from $32.00 to $40.00 per week; the allowance for miscellaneous expenses, which was increased from $9.80 to $11.50 per week in the current year will remain at $11.50; and local transportat- ion allowances will be increas- ed to $3.00 and $6.00 per week depending on how far the student lives from campus. The allowances in the current year are $2.50 and $5.00. Thes€ changes bring total living all- owances to $54.50 or $57.50 per week. The Ontario Student Loans Plan will benefit people such as part-time students, students taking certain up -grading prog- rams and students who are inel- igible for Canada Student Loans because the length or entry requirements of their programs do not meet Federal regulations, The program will provide loans of up to $1, 400.00 over a nor- mal academic year to a max- imum of $4, 000. The terms and conditions of the loans are expected to be similar to those of the Canada Student Loans Plan under which no repayment is required and the loans are interest free until six months after the conclusion of studies. The new Ontario Special Bursary program will aid people in serious financial need who may be able to improve their financial situation by taking one or more post -secondary courses. Applicants to the program must be receiving social assistance, be unemployed or have a low family income. People eligible for assistance will receive funds to cover the costs of their tuit- ion, other compulsory fees, books and equipment. They may also receive an additional allowance of up to $125.00 per term to help meet exceptional costs such as baby sitting, day- care or unusual transportation expenses. Details of student assistance programs can be obtained from student award officers of Univ- ersities and Colleges of Applied Arts and Technology, or from the Student Awards Branch, Ministry of Colleges and Univer- sities, 8th floor, Mowat Block, Queen's Park, Toronto, Ontario. Stop paying for cheques If charges for the cheques you make are costing you a substantial sum each year, bring your savings accounts to us. Here at Victoria and Grey any account maintained at $1,000 or more gets absolutely free chequing privileges — as many as you want. Makes sense? Makes money, too! Member Canada Deposit Insurance Corporation VI VG /Mew GREY TRUST COMPANY SINCE 1869 THURSDAY, APRIL 17, 1975 Carmel women discuss Easter The Women's Missionary Society of Carmel Presbyterian Church met recently in the school roomof the church. The president, Mrs. Harvey Hyde opened the meeting with a reading "There is joy in living.' The worship was taken by Mrs Edith Bell and was on "Easter and Peace." Bertha MacGregor read scripture from Luke follow- ed by a reading on "Peace." Mrs. Esther Wright read script- ure passages and Mrs. Bell led in prayer. A vocal duet "How great thou art" was sung by Mrs. Malcolm Dougall and Mrs. Edith Bell, accompanied by Linda at the piano. The president, Mrs. Hyde, outlined the study of India. Members read the life and hist- ory of many missionairies of the north India Church and their names were placed on the map to show where they worked. An invitation was received from First Presbyterian Church in Seaforth to attend their Easter thank offering meeting in April. Dr. Toll will speak on his work in Jamaica. The roll call was answered by "What Easter Meant to Me." The society will observe their 85th birthday in June. Mrs. Gordon Schwalm willbe in charge of the meeting on May 5, Mrs. Schwalm and Mrs. Ruby Hoggarth attended the Synodic- al in St. Thomas recently. Mrs. Clarence Volland, pres- ident at the meeting of the Ladies Aid and opened the meeting with prayer and the sin€ ing of "0 Master Let Me Walk with Thee." Mrs. Hyde gave the treasurer's report. Several thank you notes were received and flowers ent to sick and shut- . BALL-MACAULAY LIMITED 13UELDING CENTRE Spring PANELLING SPECIIALS OUR WIDE SELECTION OF WOODGRAIN PREFINISHED PANELUNG SPECIALS GIVES YOU A CHOICE OF FINISH- ; ING ANY ROOM AT HOME OR COTTAGE, AT LOWER THAN REGULAR PRICES. ALL PANELS ARE 4' X 8'. Spring Clearance of PANELLING at NEW LOW PRICES All stock marked with Special Spring Clearance Tag REDUCED 20% below our normal retail price BALL-MACAULAY LTD Clinton - 482-9514 Seaforth - 527-0910 Hensall - 262-2418