The Goderich Signal-Star, 1973-01-04, Page 20PAGE. $A DERICH SIGNAT..STAR, THURSDAY, JANUARY 4,-1973 •
BY J..J. HAGARTY
Ctntario MiMle'try of
Agriculture and Food,
Stratford, Ontario
Well -=over- ninet*..percent_ of
farms are held as single
proprietorships. This has been
the main method or owning
farms. "And no doubt it will
remain that way for many
years to come.
Many farmers at age -50 to 70
are looking forward to
retirement1. And many would
like to transfer their farms) to
one or more sons. They want a
simple method. One they can
understand'. One that- will be
acceptable to the tax trtan.,-
It is very difficult fur &young
man to start farrning. ,lin his
own If he has to buy the land.
marh:nerylivessiock,Attoia etr.—
- he usually says "no' way."
Quite often father owns a farm
that has been combined from
two or more 100 acre farms
with separate deeds.
Father can sell to son one of
these separately deeded par:
cels. Father may take hack a
demand 'note. Son may 'make
yearly payments on this note or
father may decide to forgive the
note in yearly lots of $2,000. (to
avoid gift tax). The machinery,
livestock ,etc. may remain for
the time being in father's name.
In the division of income,
emphasis is given ,of
what is
needed in preference to what is
deserved. It could be argued
that a father who.owns most of
the assets and who works full
d timedeserves a larger share of
the income than does the son
who contributes mostly 101.)our.
If $10,000. or less is being
-divided, -4f both persons- are --
Maintaining households, if both
have similar demands on per-
sonal income, a 50.5() division
Of income may be best.
As long as the division is fair
and reasonable ( and not a
means of evading tax), it is ac-
ceptable to ttr, tax authoritiets.
In this 'situation, the farm is
really providing labour income
- only. There is., nothing left for
interest on investment. There
are farmers with hired sten
who .say "the hired man
receives more pay y t hen l clic.
� a)
Father and son can mutua11\
agree (arin'ually) on the con:,r
tribution each will make to the
capital and management of the
farm. If no machinery is sold,
father can. continue to use
straight line depreciation (Part
XVII) and- claim capita) Cost
allowance after division of in-
come.
MATERNITY
WEAR
MR. AND
• (photo by,
Harvey McDowell hove of St. Marys to talk about
MRS. W.L. MILLIAN his _p ogranL' Mr. Dymond ex-
plained.
Early in the now year, a
meeting is tp be held regarding
area programing, to which the
surrounding townships and Mr.
Love will be invited. The ideas
and problems and successes.. of
the St. Mary's program will be
discussed ,in detail.
WTien the Goderich
Recreation Committee met in
�E'
thir final meting of 1972 last
week Director - of Recreation,
Mike Dymond filed his regular
report.
He announced he would be
attending a Rotary luncheon as
guest speaker on ,January'9 and
indicated that he hoped the op-
portunity would provide a
chance. to talk about recreation
in general and its philosophy.
"More specifically the scope
and breadth of recreation in
,and around Goderich."
Other speaking opportunities
will be made..available, and an
effort will be made to take full
advantage of them all he said.
"The concept sof area
recreation programing has been
discussed; meetings have been
held, and I have met with Len
Both father and son will fig
-an income tax statement with a
total farm 'statement -to in-
dicate the source of their
receipts. In addition to
claiming separate depreciation.
'both father and son can claim
any,, legitimate income --
producing farm expenses per-
sonal)y paid.
This agreement nu --q)r -inay
not be considered a partnership
by some authorities. The intent
is that it not be a partnership.
On winding up of •this
agreement. it, is a matter of
each one taking his own. •
A, Farm Family Agreement
Form can be Obtained from
your'. 'local, Ministry cif
Agriculture and Food office. I
a1 th••
SEPARATE 5HOPPE
Main Corner Clinton
Open 2 - 6 Closed Wcd,
In the December:21 and 28 issues -of the Signal -Star an
incorrect. figure appeared in the
HAHN-ECLIPSE SNOW GIANT
advertisement for
GR.AHAM ELECTRIC
The value of the"free 110 volt electric starter kit should
have read° . ' '
and NOT 3150 it appeared in the ad
This was-tirrerror he -Ad Dept. of the Signa? -Star and'
we apologize for any misunderstanding this may have
caused. -
Sharon Irene Noble, R.R. 2
Wilburn, and William Lawrence
Millian, R.R.• 5 Goderich were
married in Donnybrook United
Churl h in late November..Of-
fic sating at the ceremony was
Pastor Alfred Fry assisted by
Rev. Stanley McDonald of Lon-
desboro. 9
The bride is "the daughter of
Mr. and' -Mrs' John Noble, R.R.
2 Auburn: The groom is -the son
of Mrs. Charles. Merrill, ICH. 1
Clinton, and the late Charles
Millian.
Organist was Miss Marie
Boyle and the soloist. was Cyril
Boyle. who sang The ° Lord's
Prayer and 0 -Perfect Love.
The bride°was escorted to the
altar by her father amidst
‘khite candelabra, and ,bronze
.mums. She wore- a full-length,,,
gown of white silk -lagoda with
mandarin collar, empire
waistline and full bi ;hop
•sleeves. Her full ,A-line skirt
featured a • detachable
cathedral train,, The gown.was -
accented with French imported
lace. She carried a eat -wade of
yellow and white roses.
The bridal attendants were
the matron of honor, Mrs.
Dorothy Turner, sister of the
bride, London, and
bridesmaids Mrs. "Fred Tvn-
loll, sister of the itroom and
Miss Minnie Noble, 'cousin of
the bride.
They wore high . waisted
bodice of whit/. treyera with
floral polyester crepe skirts.
Ruffles ,adorned the- necklines"
and sleeve*. They carried
baskets- of_bronze mums.
Best man was Clare *Man:.
brother of tile_ groom,'
Auburn. lJshers were Donald
Jefferson, brother-in-law of the
bride,. Clinton, and Barry
Millian, brother of the groom,
R.R. 5 Goderich.
The• wedding reception was
held at Auburn Community
Hall where guests were -present
from London,. • Stratford;---&-.. •..•..
Marys,- Goderich, Kitchener,
Clinton, Thamesford, Dor-
chester, . ._Springfield,
Georgetown and Auburn. A
special guest was the groom's
grandmother Mrs... George
Millian of Auburn.; ' '
_..-For.; the `event; the bride's
mother chose a floor -length
yellow and gold nylon sheer
brocade gown in A-line style
with a lowered ,;neckline and
bias collar- gold accessories
and ti corsa_ ge of vllow roses,
The groom mother selected a
silk doubleknit, long sleeved,
'ffoor-length ' gown in deep
turquoise with braid and ap-
plique trim, silver and black ac-
cessories and a corsage of pink
rosebuds. ,
The couple is residing'"dt
5 Goderfch. ,
The bride was formerly em-
ployed at 0-Pee-Chee Co. Lid., .
in -.London._-
"An article, placed in Decem-
ber 20 paper, listing many com-
mon community groups, was
one in a wigs of similar ar-
ticles to be placed in connection
with the resources stl,rve9, the
director said. One call • was
received as a result of the ar-
ticle.
The call was in the- form ora
request for adult skating
lessons. Evidently, such a
program is being offered in
Woodstock. Interest for such , t
program will be Todd into in
Goderich.
"The Art Club of Goderich
was in contact with me some
time ago regarding new quar-
For a Light Snack
or a Full Course Mea
WE INVITE YOU TO
DINE IN _THE PLEASANT
ATMOSPHERE OF—THE •
ters for their club's functions.
They have to vacate their
present location at the. first of
the year," Mr. Dymon a c-
plained. -
"Their interest at this time is
the jail, .. but• that 'pgobably
won't become available for
such uses -for some time yet."
At this Iioint , they still ,are-
looking for a new location.
The local majorette ,. group,_
under the direction of Marga"ret
Jean Craig, have been offered
the opportunity of participating
in a parade in the Seafoith
Winter Carnival. Negotiates
are now 'lander way to. attend
this event.
• Incl-ustrial
• Farm
• Factory
Plain or safety toe: Choice of
seven sote:materials:' _
*COSS
SHOE SHOP
LICENSED UNDER Tt4E- LIQUOR LICENSE ACT
H
WELCOME.
SERVICE ...,.
would Tike to call on you with
"housewarming gifts" -and in-
formation about your new
location. The Hostess will be
glad to arrange your subscrip
tion to the Signal -Star
Call her et 524-9525 -
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MEN'S AND LADIES
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Specially designed ,for G IANT winters.
The kind of winters we have here..Winters you spend
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Choose from. 24" or 26" widths, manual or electric
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See the complete Snow Giant line
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