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Home My WebLink AboutThe Huron Expositor, 1979-08-09, Page 14B t 41All SCOTT Most farmers could obtain more farm management in formation from their existing records. I. Add a yearly inventory for value of liVestock, feed and records., INCOME TAX PILING. Most farmers keep records for income tax filing pup - poses. An organized set of books provides more incen- tive to keepup-to-date. As a n recor . % . 4%4r, 4-4,44* '44:-44.'W4.43,4q1,.„g4 .q4•••44W4W4464,•.4P.4rIreOgfPWW4*•',W."P''''.''' ""'"'" ion and Ivleeting Guide detailing [facilities offered:by the provipce. This is intend - 04 ea a tool to increase the puntber of meetings and conventions in Ontario. We recommended that !purist resorts be assessed in, a manner which takes into account the fact that Vacant land is one of their most important requirements. On June 8th, 1978, the Treas- urer stated that one of the reasons market value assess- ment was not being, pro, needed with at this time was because a special way must potential tax position by ear- ly December. The owner has the opportunity to alter his tax situation by making needed expenditures before the end of the year. - DEBT REPAYMENT payments and $6,000, safety margin for unforeseen hap- penings. Regional summaries. are now available for different farm enterprises. These summariescontain vital stat- istics such as net income equity, tillable acres, man equivalents, number of prod- ranIrik, • ucing animals, production rm usiness per animal, returns over direct costs per animal and , returns pertcre. dIti'vs dinutael res- Aia na em n Topics e own statistics with the averages. This corn - I, • , • equipment. result, the books are ready 2. Add a debt sheet for liabilities. 3, Add production records tp calculate pigs produced per sow, milk produced per eow Or hundred weights of beef produced. Record sheets are available to record this sup- plementary information with- out a great deal of additional time investment, Since you have to do a certain amount of record keeping for income tax, it seems reasonable to add some additional features to collect information which will aid in decision making. There are several direct hen- ' efits from keeping. complete' ,•-•4444,44,4,444P444444,4144041 14 THE HURON EXPOSITOR, AUGUST 9 10/9 , Jock s Jottings . al 4 , JACK RID EUht.P.P. A year has passe. SUMO the Publicatienof the report of the Liberal Task Force on ToOrismand it is interesting compare our recommend- ations and the developmeots which have taken place. With the growth, rate in the tourism industry globally and the Cement intense compe- tition for the tourist dollar, we canna afford to allow our promotional efforts te lag. In May 1978 we recommended that, since tourist operators liad the best idea of where their• clients originated and What they were seekipg, the increase of S3 million in the government's •advertising budget be allocated to local tourist organizations, permit- ting individual operators to have a, greater say in provip- cial advertising decisionS. We also recommended that the province make available promotional material and mad maps for tourist oper- ators intending to set up booths at Sportsmen's Shows * the P-$. On 'March $th this year the l'iniSter announced a 3part 40-operetiVe prograzn to en- •bance he marketability of resortsto feature. 50 bill. boards strategically placed in the southern Ontario market, toll-free telephone line between Toronto and °HMO, for reservation information. tind: an: attractive sales bro. ,Cluire featuring our reserts. be distributed to travel agents in Ontario and the States. Excessive gas prices at expressway senice cep* .Were a major cause pf complaint, our Task Force foundthat the goeerninent prepare and we recommended charts giving conversion n • f' •0 i, tables for our gallon arid the galloo to be disixibuted to these service centres. On March 5th '79 the gevern- ment announced a program to correct an American mis- conception by placing special stickers on service centre gas pumps on Highways 400 and ff 4411 to show the difference ibetseeen the Canadian imperial gallon and the U.S. lotion size and ptice• We advocated centinU- atien of the Sales tax sus - on accommodation while we try to reduce our iraVel deficit " in the eudget brought down. almost year later such an, eXtenSien was. armee need. in October .78 we asked the Minister to promote the fact that out-of-provlitee tourists are exempt from mtail sales tax if purchases are taken out of province within 30 dayS. as.astimulus .te ,retail Sete's. On 'March 5th NI year the government announced they would be actively selling, the sales tax rebate form. distributing it to. all. "We Treat You ROY411Y" participants and through all! Ontario, Oovernm* ent infer. ation ,centres • We recommended. in May .78 that the province exam- ine the information boOthS which welcome tourists to Ontario, upgrading the full. hies. in March '79 the government .apnounced *hat. our Tourist Inforniationt .rt Centres were simel.F 'Pet geed enough -n.4 they were looking at the centres with view to upgrading substantially,. On May 10. the government announced the construction of a. 350,000 travel information centre at Fed Erie as the first of four new -style centres and the Minister Stated his intention Of npgratimg all the province's informatien centres during the next 45 years, Conventions being an important source of re, enue, and possessing the petential to produce far greater re- turns, we recommended in May '78 that the three levels of government finalize plans ,for a major convention centre in Metro Toronto, which could provide information on tourist attractions. through., out the province. We also preposed the establishment in the interim of a portable information centre to be located at convention sites. In March of this year the goVernment announced, in rectignitien of convention as a major source of revenue, the publication of a Convent- „.44 ,b0,14,kiv McGAVIN AN° FARM EQUIPMENT •:. 1,1 Sales & Service FORAGE HARVESTERS oats, hey pickup & cambia) 1 --Fox 900 1--770 N.H. I-260 M.F, like new 2—S717 N,H. 2-880 N.H. Several used forage harvestersIn stock many,maltes and niodels FORAGE BOXES 1—fox w/8 ton Horst wagon -------------- $ 1,495 1—Fox w/taof & new 8 ton Horst wagon $ 2,195 . 1—Grove w/new 8 ton Horst w000n . . ... — $ 1,795 1—Grove w/Martin wagon . . • . $ 1,595 1—KastenW/roof, . . 1—Turnco . . . . . .... . ... • • $ 950 1—Rex w/roof & JF 9 ton wagon . .... . 1,695 1—Kasten w/new 8 ton wagon .. . ... • $ 1,795 1 --Dion v‘/Vic wagon. . . . . ... $ 1,750 1—Dion 3 yrs., w/roof & 8 ton Horstvrogon $ 1,991 2--Dion-on GMC trucks . each5 2,500 1. 1—Dion w/roof on GMC truck, 350 engine, air brakes . ..................350s - 1—Rex w/roof . $ 495 I—Gehl w/roof . 215 SPECIAL OF THE WEEK A.C. C w/scuffIer $800 BALERS 250 Ford 530 Ford #37 I.H.C. #46 I.H.C. Cockshutt #67 N.H. 268 N.H. N.H. Super 67 HAYBINES a, CONDITIONERS Gehl 9' hoybine NI hay condit. 270 N.I. cutditioner 2—Cunningham Condit. 450 N.H. mower ASK FOR NEIL Olt BEA • 519-887-6365 WALTON 519-527-0245 Job ORREIDA BRITISN IJEY LAND a en emt in • for the accountant at an earlier date. They are also likely to be in better condi.. don so that the accountant can spend less time on searching out figures and more time considering tax points which could be bene- ficial to the client, There's the added advantage that most accountants charge ac- eording to the time spent on the project. TAX MANAGEMENT ' With up-to-date records it's relatively easy to knowthe Two records are useful -- the income tax return for the previous year or a projection of expenses for the current yeay and a record of produc- tion. This calculation rni ht go as follows* for a 60 $, operation producing 15 pigs per sow per year. Cash Receipts 5100,000. Cash Expenses Excluding Interest 65,000. In this example the farmer has a cash flow that will provide $7,000. for his per- sonal expenses, $22,000. for his principal and interest • Perth farm ne parison is possible if the records are set up to include some farm management in- formation. The farmer may also find it interesting 'to compare key statistics for his own operation with the fig- ures from previous years. This comparative analysts is useful in pinpointing weak points in the farm business. A net worth statement is also useful in determining yearly progress as well as long 'term. progress over a period of years. In recent year inflation has been kind to farrn net worth state- ments. HoweVer, the begin. tier has to pay close attention to' make sure that the gap between assets.and liabilities hasn't narrowed from one year to the 'next. For the more established man there has got tn be a certair Farmers concerned s.I PPER to CO-OPERATIVES OF ONTARIO LIVESTOCK DEPARTMENT TORONTO Ship your livestock With MIKE DOYLE ' • Tuesday is Shipping Day From Dublin CALL DUBLIN 345-2656 ZURICH 236-4088 arb cut ment a picture of the con- . Everett Biggs & Assoc. are wishing to hear from farmers or truckers, who have con- cerns about the trucking of farm .products and supplies. The firrn has been asked by the Ontario government ' to . prepare a report.by Dec- enber 15. 1979. The report will give far- mers and truckers a clear and common understanding of the real impact of the PCV Act. It will also give govern- ucking cerns of both truckers and farmers. Thirdly, it will investigate possible changes to the PCV Act. Our office can supply „ further details to any in- dividual or organization wishing to offer any guidance or input to this study. It's possible that a hearing may be held in this general area. • Remember it takes but a itipment to place an Ex- positor Want Ad. Dial 527- 0240. satisfaction in seeing a mod- est net worth a few years age turn into an increasing figure as the years go by. Farmers are constantly plowing Mon- ey back into their businesses. ID be tonna Pa 'deg With land intenSivn recreational prop- ertieS, In M.a 18 we recom- mended that while we believed the proposed Ontario flogelry Institute wield iMprove the skills of people employed in the hosp- itality industry, in the inter- ests of restraint, this could be done by utilizing more fully the existing facilities at community colleges. The Minister of Industry and Tourism subsequently an- nounced that this training would be done through al= ready established community,. college courses. A primary tourist attract- ion IS Ontario's fishing potential, and an inadequate restocking program is having an adverse effect. Therefore, we recommended in May '78 that the province implement a good restocking program, possibly funding this from a resident fishing licence, Our support for this 1iceoce. conditional upon those reit- enues going directly into restocking program - not into Me Consolidated Revenue Fund., In June this year the goVerriment announced ex- pansion of ontario'S fisher - les management program to be paid for by a new resident angling: licenee- Finally, having found that tourist operators could be answerable to as many as 14 provincial ministries, we saw a need for a Central figure to Co -Ordinate decisions affect- ing the tourist sector, On June 6th '79, the Minister announced that in issues relating to tourism, .develop., ment, legal govefinments would no longer be required to deal with numerous min- istries The Ministry of Industry and Tourism is to co-ordinate the various steps to be taken by provincial ministries hivolVed in tour- ism development. We are now ready to receive your •VVheat •Oats *Barley *Mixed Grain . WE WILL, ALSO: B TAKING IN RA.PE$E0.•..8i. • . ..•FtA.• * Extended hours for receiving grain will be In • ' effect when harvest starts. OPNOTCH TOPNOTC-4 FEEDS LIMITED eaforth 527-1910 • • e have these Additi�naI Services.. *MUFFLERS *ALIGNMENTS as well as TIRES... SIJMNIERTIME:SPECIAL OIL CHANGE and LUBE. . . 4 Quarts of Premium 10-40 Multi, $ 1 Grade 011, Filter, GrOOSIII Job', For most popular makes of cart - 9 5 HOURS: OPEN lb DAYS A WEEK 8:30 A.M. - 3:30 MK. CLOSED AT N.Qtatit, BRING YOUR CAR IN TODAY. FOR WORRY EREE SUMMER DRIVING To: • OU ire • ariCILMuffter-Supplyttc!, HIGHWAY 4 SOUTH. CLINTON' 482-3142 of. 41114-0* '32 FORD FORD 1 "YOUR SATISFACTION IS OUR FIRST CONCERN" .•••We need and want your business. 1979 Datsun 2802X Like new - factory warranty. The ultimate in sportscar performance. Lic. NTA360. Low mileage. • . • 1978 Chev Belair Wagon Small 8, automatic, P.B,-p.s., radio, Low mileage. Lic. NZD. 075. . 1978 Am. Motors Concord' 4 dr, sedan, 1/2 vinyl top, 6 cyl. autom., P.B., P.S, Radio, Lic: OCA 774 1978 Chev Belair 305 Eng., automatic. P.13,-P.S., radio. Only 9000 km. Lic. OJD 508 1975 Ford Torino 4 dr, sedan, V8-autom, PB.-P.S.. Goocl cheap transportation. Lic. MTF 219 1973 Ford 1/2 Ton Truck V8 3 speed. Before reconditioning S475.09 Ever considered leaSing? Why drive an old clunker when you can drive a brand new Pinto for $115.45 per month plus sales tax Limited, 228 Main St. South, Seaterth Phone 527-1018 Service & parts 8 am to 5:30 pm I OPEN Sales 9 am to 9 pm Saturday 9 am to 5 pm • •lr