The Brussels Post, 1974-01-23, Page 14Name
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4Brussels Post
BRUSSELS
ONTARIO
Pensioners
file now
Pensioners and taxpayers who
are not waiting for T4 or TS slips
should file now for their fair share
of Ontario's tax credits, according
to Revenue Minister Allan
Grossman,
Mr. Grossman told a Toronto
meeting of senior citizens that
residents who have no taxable
income stand to benefit most from
Ontario's Tax Credit System and
should claim their tax credits
before the rush of federal income •
tax returns begins.
"This year's tax credit pro-
gram, which is integrated with
the income tax system adminis-
tered by the federal government
has been expanded," Mr.
Grossman explained.
"We have added a sales tax
credit and a pensioner tax credit
to, the property tax credit. It is
L4imated that about $300 million
in benefits will be paid to Ontario
residents to bring greater fairness
t the provincial tax system," he
Mr. Grossman continued
'W e expect that two out of three
nitario taxfilers will share in
cse tax credits. Many pen-
, loners, for example, will get
onewhere between $126 and
3300, depending on their parti-
t ular circumstances."
Eligible residents must fill in
certain pages of the federal
income tax return' and the purple
Ontario Tax Credit form attached
inside the tax package, in order to
Maim - even if they have no
taxable income.
"I strongly urge senior citi-
zens, welfare recipients and other
residents who are not waiting for
'14 or T5 slips to complete and
mail an income tax return as early
as possible," Mr. Grossman said,
Residents who have not re-
ceived an income tax return in the
mail should pick one up at the
Post Office.
Mr. Grossman said citizens
requiring help in claiming their
tax credits should contact either
the nearest federal district tax
office or telephone the Ontario
Tax Credit Information Centre.
The Centre can be reached free
of charge, by dialing "0" and
asking the operator for Zenith
8-2000:
The three tax credits are
related to taxable income. The
claimant must deduct one percent
of taxable income from his total
credits to determine his net
credit.
The property tax credit is
designed to offset the burden of
municipal taxes for homeowners,
tenants, roomers and boarders:
The sales tax credit, equal to
one percent of total personal
exemptions, provides relief from
the retail sales tax, particularly
for senior citizens and low-income
earners with large families.
The pensioner tax credit
provides additional tax relief for
senior citizens and is equal to
$100 for a single pensioner or a
married couple.
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