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Ue " PES SIO SRT ee oF SF eS oT TSE CRU TSS EST OE a Sy "gg UREN OL IL RE a Dil, ig lg Ba ag Miah Ate OSE REEDED OO G cee, meas eer e pers ors e al a alo ? BUSINESS SPOTLIGHT Streamlined Program For Taxation Devised on the in-between $50,000. Those; The new system calls for the earning from $56,000 to $106,000 ye gages? declaring of a divi- would pay 50 per cent on their|dend by corporations, the mini- $50,000 and those earning 'nore|mum being 1-20th of the earned than $106,000 would pay a tax/surplus profit account. 66 2-3 per cent. All persons} Mr. Neaman said at present these higher income brack-ljarge surplus profit accounts|°™s: would be exempt from taX] one held by inactive a on the first $6,000 dollars. Estate or succession duties brn ea are of no value to would be collected while the taxpayer is alive and all per- 16 THE OSHAWA TIMES, Tussdey, Jenvery 8, 1963 Today's Toronto Stock Market Listings 11 Net Btock Sales High Low a.m. Ch'ge 225 $22% 22% 22% 200 $10% 10% 10% %% 8% 84H+% $9 8% 8% Wi 300 $17% 17% 174 +% B 3000 $19% 19% 19% Wwe @ Net Stock Gales High Low a.m. Ch'ge soldray Pe Stick Sales High Low a.m. vonee $17™% 8s get 32 1100 375 370 Th "It has 965 965 om iow lo i become Be + even to the ackn ois iS Po - pBese 22% 208 sig 105 --2 4 382 ig is 4 ee WINNIPEG (CP)--A_ Winni- peg business executive has de- vised a streamlined income tax lan exem people making less than $6,000 a year from fil- ing a return. _y| Morris Neaman claims theji 135 system would raise an extra 17% -- %|$750,000,000 a year in taxes and 182 -% |possibly reduce taxes for every- 330 --10 |body. 212 Mr. Neaman is chairman of zn" the Manitoba government's de- 900 velopment fund, an agency 4 #4 + %/which loans money to small 61 business, and heads several 14% + %| companies, M4 He said his system is simple enough for anyone to er- stand. Everyone would know =,"*\exactly what their tax bill was, and "some of the best brains --1 jin the country could then con- +2 lcentrate on how to improve --%|business instead of devoting a great proportion of their work- ing hours devising ways and ah means to minimize taxes." Under the plan the govern- ment would receive a 10-per- co cent tax on all payrolls paid by the employers, and although it a would be unnecessary for work- v0 10" 10 ~s"jers earning less than $6,000 to 5 i4 14 --1 |file a return it would mean the at tim 14 ~ #|government would benefit from 5% 5% 5% the total income of this earn- 5 5 08s ing group. OUTLINED IN JOURNAL The plan, already outlined to the Canadian Tax Journal and %\the University of Manitoba de- partment of commerce, calls for persons earning from $6,000 to $56,000 a year to pay the government a flat 20 per cent Thomson Kernaghan & Co, MEMBERS OF THE TORONTO STOCK EXCHANGE OPERATING DIRECT LINE To gsc ge MONTREAL ontario 729-1104 No Stolrs To Climb RES. MGR, ERIC R. HENRY, 725-4305 rie PY 8 B id B zt ve gc z BE 3B aa ih 33 --) = l++ fe} os SS a oe S 88 Bebe Budell EE FRSCR BEeey Ne SSERSsSHshateBEsEs TEREEE sleet #3 weet He iE EEF 8 H i wesstGlissisg? s g & & Fug¥ S28 eSS8SE8 i + ++4e4 pesegegy sus 7 i i i E> 3828 §seghebostesdiex i = Lit ++ + : ESESsEeeBsee ry 4 foes getsaus-gua8ets § FR REE FE KF FER engpe: Pst to # | 1+ i] ; ogee ssyuny psBougeraueoguadyes as income, It may appear this suggestion reduces capital gain to a very narrow margin, "but it is much better for one to know what is allowed tian for everyone to interpret it as it suits their whim at the time." Depreciation would be al- lowed at the present rate on a +t+teel ee ow ouedes se tax on the growth of their es- tate Mr, Neaman said this would eliminate financial disasters or family squabbles on the death of the taxpayer and would not interfere with the perpetuation of a business operation 'as only the human expires, not his place of business." straight yearly basis, eliminat- Corporation tax would be 50/ing the method of diminishing, per cent from the first Sixerltalanes, also allowing a two- earned and up, with no excep- tions for limited dividend, non- 'S profit and crown corporations, 40 ALBERT ST. co-operatives, or foreign corpor- PHONE 725-8371 ations, All corporations doing busi- General Repairs Auto Electric ness in Canada would pay the same tax. The system would Wheel Alignment & Balancing + # Fey 5 e8S8iyseey gesbosceSenBass Be8sdiyieey gest see Sec BE 8s Lible sh cafeskuusgecagedeset BOG HEROES BUSS OSREAG Ee EeSegT ES ne b +3 i i "4 13 31 5 455 Base = afate & BBs ons'. Fe eeteg eee TL 3 us eft 100 $5% 5% 210 $79 «679 85 $60% 60 108149 149 149 865 $44 4K HK + $H4% U% Me + $28% 28% 28% 480 $695 69% trad $49 "g c i. 79 60 a s e832 * & & ogee yebusy ges o°h £ & Poa itty Bese 3 3 stats 2 2 cf # a hy e i= 3 8 = sSeoy sek 4 i t-Seabeay Q 2 & +++ 5 a we b&b B88y z Behe cst. b8 : SSES828SSe SESE geese aa eaaaa z 4 os 3 R a Se ++ = 12% 12% i 3 age J 8 = & g 90 199 190 314% 4% UK $5 5 5 45 % £ EB 43 =e> 58 s2 eliminate many _ corporations created to avail themselves of the present lower tax rate on a limited amount of profit. Owners and executives of small corporations can draw larger salaries, pay the 20 per cent tax, and re-invest their savings in their business to) build capital. Pur' RHEUMATISM = ARTHRITIS & NEURITIS tino If you find it hard to work and keep | work better and sleep better. In just | coupon below for rr at up with your daily duties because of |2 4d: Frew from Rheumatism, Arthritis, ROS! L can do tr yo. So kan Ge Fe pri oi ReeAe dey he eRe kha uritis, Fibrositis, Sciatica or FREE Fe ROSAL FREE uralgia, write today for a trial $1 treatment of ROSAL- It will be sent ROSAL, Fort Ontario, Depertment 331 Without cost or obligation send me'$1,00 ROSAL free. (Please print name and address.) 'B and postpaid. Don't let these stabbing pains or dull aches in the NAME. ADDRESS. muscles of your legs, arms, city. m5 % 1% 17% 21% 3% 14% g 2e 245 $9% 00 $18 $17% $21% $37% $14% & ra 18 1% --% 21% 37% + % 4% + % : Fe = itt Ue ee 205 205 +8 318 $44 4% MK-- % 4 Banks Faces Inquiry In Lake Labor Strife Under questioning by Mr. Du- bin, he admitted that the SIU treasury footed a $24,000 bill for entertaining delegates to an In- ternational Seafarers' Conven- tion in Montreal in 1959. The 54-year-old boss of the He said the money was "well 'Seafarers' International Union|spent'" because the Canadian of Canada entered the witness|SIU was host to the convention box Fg 8 before Mr. Justice|delegates. The bill included T. G. Norris, swore to tell the|$5,000 for a party at a Mont- truth and then faced cat-and-|real night club. mouse questioning from com-] "Personally, anything more mission counsel Charles Dubin./than a $100 bill is a big sum A big, burly man with a brushjof money," said the union eut and an impeccable grey|leader who earns $200000 a year, al mpeg gerne = plus expenses. sth played some chara |. Mr. Banks also agreed tics that have made him one of}; pybin's suggestion that the ool ee Shrewdest union) salaries of the paid officials of ) agg ag oe eS ey le was charming Officials them- stubborn, thoughtful, humorous selves. . and sometimes evasive--un-| Byt he insisted that financial der questioning. check the salaries DEFENDS HIS ROLE and, in effect, approve them. § DIFFER ON POINT Mr. Dubin suggested that the '/SIU's constitution has been ig- its|mored in the matter of union salaries--a suggestion that Mr. Banks dismissed as a "matter of interpretation." Mr. Banks also defended the practice under which paid offi- cials ere always elected as SIU delegates to the parent union convention. ACADIAN CLEANERS Odourless Cleaning Shirt Specialists © Pick-up end Delivery Service OSHAWA'S ONLY UNIONIZED SHOP Sea8se EBaak 320 320 24% 24% 21 -- 165 +5 7 1% 5: +5 --1 ses RK 2 4 B8Sarna8ue ESask zs Sis 3 feeeS2e2e¥ Fox ekGhsecatae B¥oxgteSusiy. Ee®S gs "Who could better represent the rank and file than the of- ficials yd = doing the busi- ness of e on every day?" he asked. ii Sane intl Mr. Banks confirmed earlier testimony that he raised his own salary to $20,000 from $12,- 000 in 1958. He said SIU execu- tive officers suggested then i that his salary should be boosted to " 000, but he had rejected the idea. OTTAWA (CP) -- Hal. C, Banks has stepped into the spot- light before the federal investi gation of labor strife and ship- M disruptions on the Great es. » || $eeee¥esSedeheusees¥ezs Bef AUTO - LIFE - Fi FIRE | McMURTRY ce EST. 1913 21 King se. W. neck and shoulders make you miser- able without trying this medicine that thousands of sufferers say is one of the finest ways to help ral eve ee in different ways. 1. It stimu- ates removal of uric acid. 2, It quickly helps relieve aches and pains, Then you may feel better, 723-3722 gusgeufendesectesusy "CHATEAU" 39" CONTINENTAL BEDS Much Below Usual Price! @ Layers of foamed plastic quilted to the cover give you extra resilient comfort. 312-type coil spring construction with sisal and layers of felt padding. Cotton-and-rayon damask cover. Box Spring built to give the mattress firm si rt. Complete with set of six screw-in legs in natural finish. tory since 1949. "T've worked 20 hours a day since 1949 on this Canadian sit- the SIU in a bitter, ---- le to unseat the Communist- dominated Canadian Seamen's' Vaults on Premises PHONE 728-5141 expected to cupy 'the witness box for at least 299 BLOOR W. z Pica Complex And Unexp ained Send quertions to Why do some children ect P.0. fee emma dire? Ts rg someting in dirt ? edical Mirror rig It Is natural to assume thot Diseased Tonsils EATON Special Price, (mattress, box spring, set of legs), each 84.00 GATON'S LOWER LEVEL, DEPT. 271 PHONE 725-7373 the abnormal craving for unnat- tural food (the medical term for this condition is "pica" is due to a lack of something in the diet. Doctors who studied a large @. I have trouble with my back but my doctor has never taken en x-ray. Could my diseased fonsils couse this trouble ? A. Your doctor apparently con- siders x-ray pictures unnecessary but if it would ease your mind, ask him obout it. Yes. diseased tonsils con contribute to aching muscles and joints. B.C.G. Vaccine @. Whet is your opinion of B.C.G. vaccine to prevent tuber- culosis ? A. We submitted this question to one of our editors who has spent many years in foreign lands where B.C.G. vaccine has been extensively used. Here is his on- swer. "I have observed the use of B.C.G. vaccine in other countries during the last twenty years. It is of definite value. One group of investigators found that the vac- cine gives better than 70 percent protection. However, we have Eg Sada apdhad gaited A" it is your m yoad and ete able to have your prescription filled at a wisely on the basis of professional | macy of your choice. Choose a and EAST -- PHONE 723-4621 OPEN "EVERY FRIDAY 'TIL 9 P.M. @ FREE DELIVERY @ number of children with pica concluded that iron : deficency might be the most important single cause. To test this theory the children were given large doses of iron by injection. They went right on eating dirt, chalk, plaster, and what-have-you. cure of pica, like the cause, seems. very compticated, and neither has been solved. Fried Foods Q. I have a stomoch (peptic) a My doctor --. thet 1 evoid fried foods but he didn't explain why. Can you? A. The heating of fats, as in fry- ing, causes chemical changes in the fats that increase in degree the higher the temperature. Fry- ing may raise the temperature to a point where the fat is "poly- merized", with consequent loss of digestibility. Unsaturated fatty acids may also be destroyed and irritant substances formed, Hard- to-digest foods should of course, be avoided by persons with stom- ach ulcer: Ribbonese Travel Sheath A crease-resistant, packable blend of nylon-and-'acetate' makes this dress a fashion asset to wear or take travelling most any season of the year! 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EATON Special Price, Each eeeeseessesree EATON'S MALL LEVEL, DEPT. 217 3.97 PHONE 723-7373 EATON'S TELEPHONE ORDER SERVICE OPEN MONDAY to SATURDAY 8.30am to 6pm. FRIDAY 8.30am to 9pm.