The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

"A nh Yor Fi bh FSF hat AAR wal FEI PLS IVA EEG LY 4 iy nh fae IOS ELAN EY pi OUTER RE ESRC RUSS Pre ROPE WR HOR TE EA ER HRS PHIRL TF HR EEL ¥ 200 £343 WHEL Aa 8 -- PORT PERRY STAR -- Thursday, Nov. 20, 1969 up to an income of $3,400 | i and a married wage ear- ners up to an income of Ottawa Report] ii ; : 8. Capital gains would be| % By NORM CAFIK, M.P. | would be granted-- 39, taxed, and capital losses The big news at the mom- of waggs and salaries up| deductible. The general ent is the white paper on|to a maximum deduction of rule would be that capi. . taxation. With' the proposals $150. : tal gains would be treat for tax reform, the Govern-|4. Dependants' deductions ed as income, but almost ment will achieve a fair dis- would remain at"$300. & all gains on the sale of tribution of 'the tax burden $550. during the Govern. . homes would be exempt, based upon ability to pay, ment's review of social most sales of * personal ome is steady economic growth and security and social devel- property would be exem- continuing prosperity, the opment programs. | Bt, and half of gains on . recognition of "modern soc-[5. The present schedule of | - Shares of widely-held ial needs, and a system that rates, the old age secur- Canadian corporations can and will be used by the ity tax, the social devel would be taxed and half of losses deductible. Accrued gains or losses on shares of widely-held Canadian corporations would all be replaced by would be' taken-into ace: a new rate schedule. ount every five years. To reserve the benefit of Only increases in value | Jif the increase in exempt. arising after a "valuation ions for low-income Can. day" near the start of adians, rates would be the new system would be increased and more of taxed. the income of the well. | (Special rules would post: todo would be taxed. pone capital gains tax Taxes would be lower when property is. trans. for single wage earners ferred on the death of the owner, thereby avoid- |- opment tax, the 1966 ab- atement, the 39, surtax and the general 289, provincial abatement provinces. Some of the very import ant highlights of the white paper are as follows: -- 1. "Basic exemptions would be increased: single from $1,000 to $1,400; married | 6. from $2,000 to $2,800. 2. Working parents® would be permitted to deduct child-care expenses up to $500. per child under 14, or $2,000 per family, 3. A general deduction for|7. employment expenses ra On Wednesday evening, November 12th, Mr. and Mrs. A.M. Lawrence entertained the staff of A.M. Lawrence Pharmacy Ltd. and their guests at Conway Gardens. Those present with Mr. and Mrs. Lawrence, were Mr. and Mrs. Charles Brignall, Mr. and Mrs. Archibald MacMaster, Mr. and Mrs, James Gibson, Mr. and Mrs. Bill Williams, Mr. and Mrs. Reginald - hd Rose, Mr. C.B. Willis, Miss Mary Nelson and Mr. Robert Fair. During the course of the evening Mrs. Brignall presented Mr. Lawrence with an oil painting, on behalf of the staff, expressing the appreciation of those present for his many kindnesses through the years. Mr. Lawrence presented each lady with a-gift as a momento of the occasion. Prior Lahm AR SE XN NN ppp, ane aw y i ' Cs y 3 ei ip = Fin i325 81 ie sale to the dinner, Mr. and Mrs. Rose entertained the guests at their home in Port Perry. 4 BOB S CARPENTRY : Once capital gains are ee Photo by 2:3 ifarrison ¥ J : : L - 3 ¥ ' = ' acluteg oa: the| deductible. y idends received. er-income Canadians. It ! . 3 : i em hi ln 12. The rules providing a 14. Widely-held, public corp- would provide a power- ' Specializing in Rec Rooms, Kitchens, /| PP dy : special tax system for the | orations would also pay| fu incentive for invest. ' Built ' very high rates of marg- armed services would be tax at about 5095. Share- ment by Canadians in s ui ting, etc. : 4 inal tax, which would be repealed; 'members of holders "would be -given Canadian rations 4 Courtesy, Imagination and Estimates Free. | reduced over five years| the foreés would be tax- IE to ges a ! corpo: . Lt to about 509 : 2. credit for percentage | Time and space do not «© ' 4 & ed like other Canadians. points of the tax paid.|permit me to go into this 4 BOB BERO 119 A Ten of Svetsen 13. Closely-held corporations This credit would Te-| white paper in more detail H ak ian H would reduce taxes for would be put on the same place the present divid-|at the present time, but I ' SEAGRAVE -- 985.7027 A those whose incomes tax basis as the unincor- ent tax credit and would | feel this Is gid op for. Ea intake EXE N UR Cy 1 _ fluctuate more than usu- "porated businesses with be of REA value 15 Tows vward: - : : - iy Ea | ~ which most of them com- : - Unemployment insurance pete. Some would be o »r benefits, fellowships, treated as partnerships; R Oo ) \ T bi E y.\ T BR £ 3 scholarships, ~bursaries,| the shareholders would UXBRIDGE research grants and ad- 852-6033 pay tax on their portion ult training allowances | ofthe income of the cor. | Thurs.--Fri.--Sat. ; November 20--21--22 would all be taxable. The poration. Others would | "A Man Called Gannon" = 7:30 new higher personal ex-| gohjeye this result indi- Michael Sarragin, Tony Franciosa - _emptions would mean rectly; assuming a prov- "Winnina" 9:00 that most recipients : g > 4 -incial tax of 109, the corporation would pay tax at 509%, but the shareholders _would get credit for the tax when they were taxed on div- Paul Newman, Joanne Woodward would only be taxed if th y id Recommended As Adult Entertainment have significant other income. 11. Unemployment insurance contributions - would be Mom --Tues.--Wed. __. November 24--25-- 26 sed George Peppard, Inger Stevens in a - aT . "House of Cards" 7:30 : I N Ww S Rod Steiger, Claire Bloom and Judy Geeson PSO m e' "3 Into 2 Won't Go" 9:00 i By Jean Jeffery Herb and their wives of Ash. | ,-- . 1 -| Life isn't all sunshine; burn and 'her sister Mrs. g 5% : isn't all night. Ruby Rodgers of Brooklin & g BB Be our Guest... - God meters out our living | Mr. Porter. [ UNE Cp ; hi ; in the darkness and light] The date of the UCW meet. $ J visit the Brantford combine plant, | Then knowing God's way, ing has heen changed to . ; the Ch ity, lowa or when these dark days [Dec 9th. Will be held at : SREY 7 : . C arles City, or are gone, ; Utica. Group 2 in charge. Minneapolis; Minnesota tractor plants; | | Rest assured He will bring | "Mr. and Mrs, Donald As. - another new dawn, ling accompanied Mr. and 3 When you purchase a new Cockshutt or We were sorry to learn on| Mrs. Jim Clarke fo he Royal ; Minneapolis-Moline tractor or combine ||Sunday that Paul Kerry was|in Toronto on Monday. , between Nov. 1st and Dec. 23rd, 1969." in the hospital. Speedy re:| Mr. and Mrs. Chas. Geer : : covery Paul, entertained Mr. and Mrs. || You and your wife are invited on your choice of Ross Evans had an accident | Herman Kerry on Tues. ev- an.organized tour this winter to: = pis ining When a me-| ening, : - . i a p Ilew m @.crow-| Mr, and Mrs. Maurice Ba. (a) the Brantford combine plant bar he was pounding and en-|ker of Uxbridge visited Mr. Te - 5 i y or : Far tered Nyam and Mrs. Alan Card on Sat. : (an - b the Ch rles i ; . . and Mrs, Walter Kerry, evening. : g gi3] i . (b) arles City, lowa tractor plant Mr. and Mrs. Arnold Kerry| Welepme home to Mr. and ; . woo or "| [and Mr. and Mrs. Herman|Mrs, David Prentice, Mrs. C.| | dlc es er Ie | ; non Kerry attended the 25th Wed- ding Anniversary of Mr, and Mrs. George Kerry of Osh. X awa. The reception was held (till April 1/70 [{in Port Perry on Sat. even: Geer and Mr. and Mrs. Cor-. less, Ashenhursts who have all been enjoying a trip to Florida. Bethesda Reach W.I, (c) the Minneapolis, Minnesota tractor plant of Minneapolis-Moline. Enjoy one. of these bonus holidays and the special waiver of interest deals 15th Annual Meeting "f- on tractors and July 1/70 on combines) now | |ing. : The Bethesda Reach W.I, : available. : Mr. and Mrs, Kenneth Ca-|}adies have been very busy Saturday, Nov. 22, 1969 therwood of Brooklin visited | ¢his last month, 4 nm For all the details ~~ her parents Mr. and Mrs. H.| On Nov. 6th three repre- * ODDFELLOWS HALL * (VHT ER or a) re a dots) s Ashton on Sunday, sentatives attended the Cen. PORT PERRY pas ONTARIO ¥ Mrs. Eric Benns, Robin and | ¢ral Ontario Area Convention Do parent for Sunes meager" | Continued on Page 10) ROAST BEEF DINNER -- MEETING parents for. Sunday supper. es o "~Our Sympathy to Erina and | Free. Evaluations Entertainment -- Dancing il Ko B&W Farm Service BLACKWATER, ONTARIO Phone 357-3760 Carson Watson on the pass. ing of his mother, Mrs. Tom Watson of Marsh' hill. On Thursday evening Mr. and Mrs. H. Kerry entertain. ed her brothers Nelson and ADULTS $200 -- CHILDREN $1.00 Tickets available at the CREDIT UNION OFFICE, PY 3 Hwy 12, North of Brooklin, Ontario. PHONE. 655-4451 L REAL ESTATE LPO REALTOR 985-7373