The Lucknow Sentinel, 1988-07-06, Page 4Farmers
Lucknow Sentinel, Wednesday, July 6,1988—Page 3
welcome proposed tax changes
Farmers are going to benefit greatly
from the tax changes being proposed by
the federal government.
The changes - part of the 500 -page Ways
and Means Motion recently tabled by
Finance Minister Michael Wilson to
amend the IncomeTax Act - are the end
product of long consultations with the On-
tario Federation of Agriculture and other
farm organizations. Many of the final pro-
visions, in fact, represent a government
about-face from the original proposals
contained in the White Paper on Tax
Reform released last year.
Cash accounting, initially targeted for
abolition by Finance Canada, is being
retained.
"This is welcome news for the 90 per
cent of Canadian farmers who depend on
it. Not only does cash accounting give pro-
ducers greater flexibility, it saves them
between $300-$1,000 in accountant's fees to
start with," said Brigid Pyke, president of
the Ontario Federation of Agriculture.
Pyke and the OFA led a vigorous nat. •nal
lobbying effort to stop the federal move to
get rid of cash accounting.
Wilson also revealed that the govern-
ment will not proceed with either the Pro-
fit Test (to distinguish between a farmer
and a non -farmer) and the Gross Revenue
Test (to distinguish between a full time
and a part time farmer) in determining
the tax treatment of income tax filers. This
is another victory for farm organizations
which convinced Finance Canada that the
tests would be ineffective and unworkable.
The ability of farm tax filers to claim
losses against other income has also been
adjusted favorably. Farmers for whom
farming is a secondary business will be
able to claim losses to a maximum of
$8,750, up from the current $5,Q00. Full
time farmers can claim their total farm
losses against other income.
The farming community likewise hailed
the government announcement extending
.the flexible livestock inventory provision
to all commodities. As it now stands, the
provision allows a farmer to take into in-
come this year any amount between zero
and the fair market value of his livestock
on hand, and subtract that out of income in
a subsequent year.
With the extension of this provision to all
commodities, more farmers will have a
flexible mechanism to average income
through a number of crop years.
To protect the tax system from being us-
ed to finance inventory build-up, the
government is still going to require a pur-
chased inventory adjustment. However,
this will only apply to farmers who
register losses based on cash accounting.
"When you consider that Ottawa, a
month and a half ago, also conceded that
proceeds from the sale of quota will now
qualify for the $500,000 capital gains ex-
emption, farmers and their farm organiza-
tions have come out of this tax reform ex-
ercise with very good results, ' said. OFA
president Brigid Pyke.
"It clearly demonstrates what organiz-
ed, rational, focused farm lobbying can
do," she said, "And it also shows that
farmers are prepared to give credit to the
members of the rural caucus and to the
Ministers of Finance and Agriculture who
listened.
Egg prices are up
The price paid to producers for Grade A
large eggs in July will increase in all pro-
vinces, the Canadian Egg, Marketing
Agency (CEMA) announced today.
Prices paid to farmers in Newfoundland
will increase two cents per dozen, while
Nova Scotia egg producers will see prices •
rise by four cents per dozen.
Prices in all other provinces will in-
crease three cern. per dozen.
The price increase is mainly due to
•
higher feed costs. The price for feed
throughout Canada has taken a sharp rise
because of the severe drought in the
western part of the country.
CEMA sets the producer price for Grade
A large eggs at the beginning of each
month using a cost of production formula.
The federal government's National
Farm Products Marketing Council is ad-
vised of the prices before they are
announced.
In
support of 4R's
The Ontario Federation of Agriculture
has come out in support of a 4R Program
to combat the problem of waste manage-
ment in the province.
Receipts light at the stockyard
Due to the Canada Day holiday and
heavy supplies of cheaper Western and
United States beef, receipts were light at
Brussels Stockyards. There was a good de-
mand on all classes of cattle which sold
steady to $1.00 higher. There were 184 cat-
tle and 477 pigs on offer.
Choice Steers sold 85.00 to 89,00 with
sales to 93.75 while Good Steers sold 82.00
to 85.00.
A limousin steer consigned by Bert
Elliott of RR 2, Blyth, weighing 1240 lbs.
sold for 85.25.
Thirty-three steers consigned by the
Wheeler feedlot of Brussels averaging 1198
lbs. sold for an overall price of 82.09 and
they had sales to 87.50.
Good Heifers sold 80.00 to 84,00 with
sales to 87.00.
Six heifers consigned by Lorne Hackett
of RR 3, Lucknow averaging 992 lbs. sold
for an average price of 81.65 with sales to
84.25.
Seven heifers consigned by Chester
Hackett of RR 7, Lucknow averaging 964
lbs. sold for an overall price of 80.28 and he
had sales to 82.00.
A red heifer consigned by Greg Hackett
01111EZ 1124
--"-s7floyzjoz'
PICK YOUR OWN
STRAWBERRIES
5 Km. East of Lucknow on Hwy. No. 86
OPEN: Monday -Friday 8:00 AM -8:00 PM
Saturday 8:00 AM -5:00 PM
Weather & Crop Permitting 528-2900 No Pots or Pans
COMBINED HOLIDAY SCHEDULE OF SERVICES
July 3 - United Church - Rev. MacFarlane
July 3 - South Kinloss - Rev..H. Nugent
July 10-17-24 - United Church - Rev. MacFarlane
. July 31 - South Kinloss Church - Rev. MacFarlane
Aug. 7-14 - South Kinloss Church - Rev. Ramsay
Aug. 21 -28 -Sept. 4 - Lucknow Presbyterian Church
Rev. Ramsay
ALL SERVICES AT 10:00 A.M.
of RR 3, Lucknow, weighing 1070 lbs. sold
for 81.50.
Choice Cows sold 56.00 to 60.00 while
Good Cows sold 52.00 to 55.00. Canners &
Cutters sold 48.00 to 51.00. Pigs 30-40 lb.
traded to a high of .64 per lb. Pigs 40-50 lb.
traded to a high of .67 per lb. Pigs 50-60. lbs.
traded to a high of .62 per lb. Pigs 60-70 lbs.
traded. to a high of .62 per lb.
Next Friday, July. 8th, Brussels
Stockyard will be holding another Sheep,
Lamb and Goat sale at 3:00 p.m. For more
information please phone 887-6461.
The 4Rs — Re -use, Reduce, Recycle, and
Recover energy — are necessary alter-
natives to the current dependence on land-
fill sites, says the OFA.
At its June board of directors meeting,
the Federation also strongly supported
energy from waste (EFW) plants and fur-
ther maintained that separation of
recyclable materials can and should be an
integral part of these plants.
OFA president Brigid Pyke said, "The
Federation will be conducting its own •
study to look at the way various waste
management options are funded in On-
tario. Is there an imbalance in public fun-
ding which leads municipalities and local
governments to choose landfills over other
alternatives - we'd like to know so we can
recommend change."
OFA will also identify specific changes
in provincial and municipal legislation
needed to improve community waste
management. "Our goal is to come up with
information and strategies which our
federation members can use locally to
make sure wise waste management
choices are made at the local level," said
Pyke.
Calendar
Gordon T.
MONTGOMERY
SCHOOL & CHARTERED BUSES
Lucknow 528-2813
of Events --
JULY 21 - WONDERLAND - Toronto, Adults $30.00, Children
3 - 6and 60t $24.00.
JULY 27 - MARINELAND - Niagara, Adults $28.00, Children 3 - 9
• $24.00.
JULY 31 - BLUE JAYS GAME VS. NEW YORK YANKEES -
SOLD OUT!!
AUG. 3 - WONDERLAND - Toronto, Adults $30.00, Children 3 - 6
and 60t $24.00.
AUG.. 9 - METRO ZOO - Toronto, Adults $22.00, Srs. $19.00,
Children $17.00.
AUG. 21 - BLUE JAYS GAME VS. MILWAUKEE BREWERS -
Toronto, $28.00 Bus and Game
AUG.22 - WONDERLAND - Toronto, Adults $30.00, Children 3 - 6
and 60t 824.00
SEPT. 18 - BLUE JAYS GAME VS. CLEVELAND INDIANS -
Toronto, $25.00 Bus and Game.
MAKE PLANS WITH YOUR FAMILY AND CALL US AS SOON AS POSSIBLE
TO AVOID ANY DISAPPOINTMENT.
Call Thelma at 528-2813
GORDON T. MONTGOMERY
SCHOOL AND CHARTERED BUSES