Durham Region Newspapers banner

Port Perry Star, 14 Oct 1987, p. 11

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

OFA says tax reform poor way for new policy pind NA i The burden of proof is on the federal government to show the ex- tent of the problem created by the availability of cash basis tax filing by farmers, Brigid Pyke, President of the Ontario Federation of Agriculture (OFA) told the House of Commons Standing Committee on Finance and Economic Affairs recently. According to the OFA, the govern- ment's tax reform proposals have an unfortunate quality of shadow boxing and is a poor way to develop tax policy. Complying with the federal proposal will mean addi- tional paperwork and additional cost. For many farmers, the cash method is the most easily used way of averaging income. Year to year changes in farm income average plus or minus 20 percent, so the cash method offers farmers the flexibili- ty essential to their survival. The cash method of tax filing is being eliminated even though the Farm Credit Corporation estimates that 92 percent of farm operators file on a cash basis, says the OFA. It is estimated that 58 percent of On- tario farmers do not p.'epare finan- cial statements by the accrual method. - The OFA says farmers are puzzl- ed and concerned by the govern- ment's intention to introduce objec- tive tests for determining who is a farmer and whether or not a farmer is full or part-time. They have trou- ble with the government's proposal to qualify a farmer as a taxpayer on the basis of being profitable for at least three of the most recent seven years. No other business is required by the Income Tax Act to meet a pro- fitability standard over a particular period of time to assure its "business" status. Given this type Farmers warned about deadly vapour The Farm Safety Association (FSA) has issued yet another war- ning to area farmers cautioning to beware of deadly silo gas. Nitrogen dioxide, better known as silo gas, is formed when material ferments in silos. The drought-like growing conditions in the Scugog area during this summer could be responsible for the increasing reports of the deadly vapour, accor- ding to the farm safety experts. Gary Geissberger, a regional safety consultant for the FSA in- dicated reports of silo gas in Durham Region have so far been false sightings, but cautions this does not mean it still will not occur. The fatal chemical can render a person unconscious within a minute of inhaling the gas, with death following quickly if the person is not removed from the vicinity immediately. Silo gas may be detected by a yellowish-brown haze and a bleach- like odor. Dead birds and flies at the base of a silo is another indication that the gas is present. Once a silo has been filled, the FSA advises farmers to seal off the structure for at least three weeks. During this 21-day period, the silo should not be entered unless a self- contained breathing apparatus is worn. \ of criteria, many would fail. In ad- dition, a number of apparently "bona fide' farmers could look back over the last seven years and not find three that were profitable. The federation is also concerned about the federal government's pro- posal to consider someone a full time farmer only if gross revenues from farming are greater than non- farm income in at least three of the most recent seven years. "The OFA feels the tests simply substitute one kind of uncertainty for another," says OFA president, Brigid Pyke. On and off-farm in- come can fluctuate so widely that a generally recognized full time farmer is often seen as a part timer." The OFA brief to the committee also commented on capital gains, quota, block averaging and capital cost allowance, along with other general issues in the government's tax reform proposals. Police arrest youths in break-in incident Two Port Perry youths are facing several charges in connection with a break-in late last month at a home on Concession 4 in Brock Township. Durham Police arrested one of the youths over the weekend and the se- cond was arrested on Tuesday. Their identities cannot be disclosed because they are charged as youthful offenders. Police say the September 23 break-in resulted in substantial damage to the house. Numerous items including three rifles, wat- ches, rings, a video recorder and a quantity of Canadian and foreign currency were reported stolen. PORT PERRY STAR -- Wednesday, October 14, 1987 -- 11 Oshawa man faces cash theft A 21 year old Oshawa man is fac- ing a charge of theft following an in- cident early Saturday morning at an all-night gas bar in Port Perry. Durham Police told the Star a man walked into the XL Station just before 2:00 AM and asked the atten- dant to phone for a tow truck as his car had broken down on the highway. As the attendant was placing the call, he saw the man attempt to scoop some bills from the cash register. He then fled on foot with about $100. - Police were called to the scene and a short time later a man was ap- prehended near the gas station. They have charged Steven Lyle Green of Simcoe St. North with' theft. Regional Police are also in- vestigating several incidents in which windows in homes and a car were damaged recently by b-b pellets. The incidents took place in the Beech Street and Lakeshore Drive area of Port Perry. Philp Pontiac Buick Limited: The factory has made a Special Offer to those who act fast on the New 1988 Models. These are legitimate offers. You can save big money by buying now. We can make quick delivery too, because we have the inventory. Come in any weekday including Saturdays -- look these beauties over and save some big money. Take Advantage of these Specials Now - They won't last long! charges EMMERSON INSURANCE BROKERS LIMITED 193 QUEEN ST PORT PERRY. ONT LOB NO (416) 985-7306 ALL LINES OF GENERAL INSURANCE ¥ VICTORIA VGEGE Since 1844 5 Year Annual Interest 11% Semi-Annually Rates Subject to Change without Notice FREE FREE *500. 1 1 1/4% | Air Conditioning on Brand New 1988 or 1987 Pontiac 6000 and Tempest. REBATE Transmission on Brand New on Brand New 1988 or 1987 1988 or 1987 : Pontiac Sunbirds Buick Century A RR Automatic Remaining 1987 Pontiac - Buick and GMC at Model Year End Savings -- HURRY! --

Powered by / Alimenté par VITA Toolkit
Privacy Policy