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- ~ » - 3 Scugog Citizen -- Tuesday, February 37, 1996 a If you are over 65 and your "net income is over $25,921. you would have noticed last el This win be even more, noticeable "with the 1995 tax return. The reduction of the 'age amount' ig being fazed in over 2 years with 7.5% reduction on the 1994 tax return and 15% on 95's. So if your net4ncome is over $49,134. you will receive no credit at all for your age. Once you réach 85, it is "more difficult to change the 'net income' situation as most people are then on fixed income and have little or no 'ceiling room' to allow income splitting by way of RRSP contributions to. a spousal plan. Remember you are not. longer allowed to designate any of your RSP income to a spousal plan. If one spouse's income is under -antitipating reque $25,921. and the other is ~ Durham Board to study Task Force report The Durham Board of boards from 168 to 87, the over, ider req Income Security to Mave the CPP split bet will study the province will limit the implications ®f recom- number of trustees to 9 for to try to maximize thie age amount credit. Another change applies to thBse+of you who are subject to 'claw back' of O.A.S. The claw back will still take place this year on your tax return, however as of July 1996, your monthly 0.A.S. cheque will be reduced or eliminated based on your 1995 years income. We gre from Revenue Canada to people who would normally not be required to file a return that they should file. So we suggest that in order to avoid worry later in the year, that all seniors consider filing tax returns. (This article was submitted by H&R Block, Port Perry.) FORDER - INSURANCE BROKERS INC. 34 Water Street, Port Perry, HCH NON .35 Ontario L9L 1)2 985-8471 EERIE o, PERSONAL ATTENTION 1) A Of YOUR GENERAL INSU PARKS ENNY & ASSOC. + ACCOUNTING SERVICES ® New Business Set-up ® [raining on 180 MARY STREET, PORT PERRY - - dations in the Ontario boards under 60,000 School Board Reduction students and 11 for boards Task Force Report, from 60,000 to 90,000 commonly known as the students. The honorarium ,Sweeney Report, released for trustees will be capped February 16, 1995 while it at a maximum of $16,000 awaits further clarification annually and the addit- |i from the provincial gov- ional hoporarium for the ernment... Chairperson and Vice "The report released last Friday has one major difference from the interim report released last fall," says Audrey MacLean, Durhani' Board of" Education Chairperson. It lls for the Durham Chairperson will be no more than $5,000 and $2,000 respectively. Currently, "a Durham 'Board trustee's rem- uneration is set at $13,600, and 'the Chair- person and Vice Chai- Board of Education to rperson receive: an amalgamate by January additional $10,200 and 1998 with the Clarington $3,400 respectively. portion of the North. umberland Clarington Prior to proceedingswith school board /amalgam- Robin Doan and Bunty Webb in a scene from the ,Borellans comedy called 7 Stories at Town Hall 1873. The show opened last weekend and will continue Feb. 29, March 1 and 2. Tickets at Jayson Callan Music or at 7:30 p.m. at the door show nights. Board of Education ations across' the province, currently headquartered = the report tfiends the in Cobourg. "This will government reform education finance by pooling"tommercial and industrial assessment and eftablishing a standard mill rate. The revenue would be redistributed to boards on an equitable bring more closely into line the boundaries of Durham , Region and the jurisdiction " of the Durham Board." The report also calls for the Durham Board to be responsible for the Campbell - Children's School, Oshawa, a provincially - funded 8. The report calls for a gradual phase-in over a 5 year period, with no reductions in the total amount of grant money to school boards during this period of time. » "More information on the proposed pooling of commercial and industrial school in the Grandview Rehabilitation arid Treat- ment Centre. At the same time as the reduction sof English language Ontario school HALIBUT HOUSE 1820 SCUGOG STREET {| » 985-0880 You Love our Fish! You'll Love Our... BREAKFAST Sifelatiale NY [elalole} NY lol{el W113] During Systems Phone (905) 985-0712 lec Ar ANS assbssment is expected 7AMto 11 AM N ax 4 f he Eduéati 7 Days a Week! FE Me sore nr ays a | PERSONAL &BUSINESS TAX RETURNS PRIORITY EFILE avaliable FREE COPYol Tax Tips & Traps YO OR OVER 30 YEARS Come out and meet Chont acter oem - |. 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HW financial, Estate and Retirement Planning Lg Pls qualty 10 ajjredsie dd bh g Personal Tax Retufns are being processed now. OFFICE HOURS UNTIL-APRIL 30th; 1996 Monday to Friday 8 to 6 PM, Saturday 9 to 1 .204 CASIMIR STREET, PORT PERRY Telephone (905) 985-9725 Toll Frog 1-81 1-800-215-3852 OHTA} THE NUE