WHITBY FREE PRESS. WEDNESDAY, SEPTEMBER 3, 1975. PAGE 5 t', w e id id l OW rele e b)it '11 ffllC Wh&o regulates election finances? The Commission on Election Contributions and Expenses is a group of people responsible to the Legislature for the supervision and enforcement of the new Election Finances Reform Act. The Act makes provision for the province to pay certain amounts towards the expenses of the candidates. You are there- fore, through your taxes. taking part in every election and you should be fully informed. The Commission are the people who will keep you informed are the main objectives of the new legislation? Firstly. to limit the amount which any person. corpora- tion, or union may contribute to any political party, and so remove the possibility that wealth may influ- ence any government or party in its policies. Secondly. to provide for disclosure to the public of those who contribute and the amount of their contributions Furthermore. you may claim a tax benefit for contributions. W" en can a contributor give? A contributor can give at anytime. but is limited in the amount he or she can give. The breakdown is as follows: In any year; any person. company. or union may con- tribute up to $ 2000 to each provincial party They may also contribute up to $500 to any constituency association, but their total contributions to all consti- tuency associations of the same party may not exceed $2000. Durng a campaign pernod. that is. from the day the election is called to four months after Election Day. individuals. companies and unions are permitted to make extra contributions They may give up to an additional $ 2000 to a provincial party. and they may contrîbute up to $ 500 to any candidate as long as their tofal contribution to all candidates of the same party does not exceed $ 2000 why is there a new Election Finances Reform Act? The new Act will lmit individual contributions and will make poitics more responsive and involve more people in it. By controlihng the amounts that can be spent on media advertising. il will help make political contests more even across Ontarno Iiow does the new Act affect you? Corporations and Unions? Candidates and Parties? The Election Finances Reform Act will bring the financing of all Ontario campaigns out into the open. You will be able to see how much each candidate received, and how much was spent. If any candidate fails to follow the regulations involved. he or she can be fined or barred from running in the next election. or even have to give up their seat in the Legislative Assembly The Commission will publish, in the local papers, a summary of the total amounts each candidate raised and spent. A list of names and addresses of everyone who donated more than $ 100 to the campaigns will be available to you at the Commission's offices Both individuals and corporations can claim a tax benefit that will partially offset the costs of your con- tribution- This will reduce the amount of Ontario tax which contributors have to pay. and is quite separate from the credits allowed for contributions to federal political parties. The table below shows the tax credit available to indi- viduals. REMEMBER-this is a tax credit-not just a deduction. You can deduct it from the actual Ontario tax you vvould have to pay. not just from your taxable income Total Contibutions Maximum Credit Calculations Credft CedtCclain up to $100 $ 75 75% of contribution $101 to $550 $300 .75 plus 50% of the amount over $100 more than $550 $ 500. $300 plus 333%of the amount over $550 'the naxrnmum credit of s 500 is reached when total contributions in the year amount to S 1150 If your total contribution to al registered parties. con- stituency associations and candidates is less than $100. you can claim a tax credit of 75% of the amount contributed This allovvs you to make fund-raising contributions at a relatively small cost to yourself. The tax benefit for corporations works somewhat differently. It permits companies to make limited deductions from the Ontarno portion of their taxable income Remember no individual or company can claim a tax benefit resulting from their contributions unless they produce an officiai receipt for the amount contributed. These receipts are supplied by the Commission to can- didates and party officials Further information is available by writing to the Commission at 151 Bloor Street West, Toronto M2A 1A2. Arthur A. Wishart, Chairman, for the Commission. Published by the Commission on Election Contributions and Expenses. i ( e;