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ORONO WEEILY TIMES, WEDNESDAY, DECEMBER 22nd, 1971 Queen's Park Report Alex Carruthers, M.P.P., Durham Trhe FirstSossion of tthe 29th Parliament of Ontario SetcTank GENERAL PUMPING 24 HOUR SERVICE LORNE IHARDY L&skard., Ontario Telephone 983-57Z8 or M835M8 ROy THOMP@%s'ON Oreno, Ontario Phono 983-5759 AUl Carpentry Work I.modeMlng Ki*chen Cupboards Wo build froua the f.uudalia Up. of Critmac SChureh beils ring out the * oy andi hop: we feel at rn Âlbert's Texaco tRNERAL REPAIRS Pheme 992-5249 Oron. The _ first. session -of the 29th Parjliament of Ontario was pro- rogued late Friday afternoon af- ter a week's deliberations which inldda night, sitting lasting until 3 a.m. and one vote in which a N.D.'P. amendment was defeat- ed 71 to 15. It was a productive session with 16 Bis pertaining to tax and health services reforms as well as legisiation dcaiing with the re- structuring of governrn nt receiv- ing Royal Assenl. Among the significant pieces of legisiation, were the following: (1) 'Bill i--An Act- to amend the -Incarne Tax Act. This; legisiattion is ta be enacted in two stages; the first stage pro- viding for a 3.6,1/c reduction in the personal income tax for the six month period from July lst. to Dec. Slst, 1971 at a revenue cost of $22 million. Taxpayers will receive the benefits of thîs fi rst stage' When they file their incarne tax retura in early 1972. The second stage consists 'of a 2% cut over a 12 month period fromn Jan. ist to Dec. 3lst, 1972 at a revenue cost of$ 36 million and unlike the, first stage, which is retroactive, will show up in tak- home pay imrnediately after the New Year. (2) Bill 3 - An. Act te Axnend the Succession Duty Act. The withdrawal. of the Federal Government from the estate and gift tax field on Jan. lst,' 1972, and its introduction of a capital gains tax has necessitated the province taking action with re- spect to succession duties. The reasons for this are outlined as follows: Under the existing system On- tario succession duties generate about $70 million and the federal estates tax collects $56 million in Ontario for a total of some $126 million annually. Haîf the estate tax revenues are turned over ta the province so that On- tario retains $98 million and the federai Government $28 million- of the total weaith tax field. The eliminattion of the federai estite tax means a revenue loss of $28 million to the province which Ontario cannot afford and which does not appear eciuitabie. SThe new legisiation contained in Bill 3 is design",d to produce a revenue of $96 million and with complete control of this taxation field theprmovince ean provide re- lief mIo 3t neeid.d Althaugh ail rate scheduies are dotiblec, i ,urtaxes will bce cumin- ated and the exemption for wid- ows and widowers will be increas- ed from $250,000 ta $50,000 and aijl estates valued up to $100,000 re- gardless of their distribution will neot be subject ta duty. The legis- lation further provides that all gifts made within 15 years priar to the deatth of the deceased wvill be înclude'd as pro)perty of the de- c-eased I if nuiaclemionu atrJan. lst, 1972. (3) Biil5 - \An Ac(t to Estaiblish the Ontarl I ih Insurance Commission and taf provide for the Advance O'rgaizaion of the Ont- aria HaihluanePlan. The Legfisiation mar-,iks an im- portant step in the elimination of prcmiums anci provides for the combiaing of mnedical and haspit- ai services under one plan. As of Jan- s. 1972,persans over 65 years of age and their de- pendants will not be required ta pay for either medical or hospit- ai services. Premiums for single persans are also reduced ta $11. and for two or more in a farnily ta $22.00. (4) Bill 4 - An Act ta Facîlitate the Refief, of. Unemployment by Municipalities. WhyPay More? Save Money!e ON DX PREM IUM QUALITV FUEL CIL end t STOVE OIL Phone 668-3341 Dm2>X FUEL 011 For Prompt Courteous Service Cail Us Today __________________a__ I LoasBeaouty Shoppe Lola Kennedy Ray'sbAurber Shop Ray Browil OxfordBrklys (Willie Schmahl) Durham Co'u.ty Sales, Arena (Charles Reid) Watson's Marine & Cycle Chatterton Electric (Frances and Orvile) Dr. P. I artense Dentist and Staff Orono Building Contr acter (Horst Hoensch) Glen- Tennant Transport James. Ard Builder p r - CeIIect