Lethbridge Herald, The (Newspaper) - April 5, 1972, Lethbridge, Alberta
_ Tllf lETHBRIDGE HtRA.lD Werlimrfoy, Apnl J. I97J get best news in estate tax field Tin-; CANADIAN IMIESS (mm in (irsl llio frtli-ral novc-rnmcnt's to per rait fur any cx- withdrawal (rom I lie oslmc Inx cess of in lln- net value field al Hie cnil 1971. Icpisln- o( an estate alter [Iciluding cs- I lion is liiiinnuM'txl tml liy j cinpiions and ;iH iK'Nts. Ci'ifl luxes slart ill IS per ornl for tlio BIG COVERUP It's u common clothing praclice in northern China where wi-ifer Has a way of being b.fferly cold. A Peking Ind peers out from bolwecn caps and hoods and Hie face mask many Chinese wear as pro- lection against germs as '.veil as cold of winter. 1 the prcnimxs Lo (ill the i Since Use del nils ace- slill licintf wufkcd mil in most prov J mew. NIC rffc't-t nil Ihc taxpuy- l ers remains uiHTrlain. Pre- viously, tlic federal iweinment rciuiUwl n share nf its estate j Lax revciuK1 lo provincial i governments. I A Iberians received llio best 1 news'. The prttunre, h.-ul i previously mi miner rl its shai'e 01 Ihe IciiPial lax. has nn- nounccii thai it has no intention of enlcvinj: tli'j field. The Hirer Maritime provinces have accopl'v'l n federal offer to continue rolJcrlint; I'slatc jincl I rift (or thrm for Ihc next 1 Ihrcc M'iir.-; (in- n fpp of three per cent. Introducing identical bills, which will bo duplicated shorlly by Newfoundland, Hie govern- ments of Scotia, New Enuisvick ant! Prince Edward Island acrced In fxoni.pt nil e.S' first nml ri.sc I" 50 per cent for amounts exceeding utter exemptions. Finance Minister TUyinuml (iurncau of Quebec has tin: 1 [LOIII SL.200 a year for certain piovincc will not movp iulo (do depnutc'iils icccivitig tmiUihlc pensions, annuities and similar paymcnls eil HIP exemption to some details nre not yet known. Infirm children would receive estate lax field as such but take other measures Lliat il does not lose rcsvill I Lepsliitinn is hofore ULC The estate lax exemption JISC.OCO for preferred Ijcnertoi- arics with an nildillonnl for Ihc spouse, other liencfici- ,000 CilSC tales from estate VANCOLTER CP) weather offiro confirmed lieu1 awa what Vancoiu'ci itcs had .March in hi.slorv The coa5l of Vancouver Island Rainfall total there In lax and to increase the nxorvip- lion for spouses to from G1VKS HASH' 1UIEAK The locislnlion also p.ivos cliil- drcn and grnndrhildrcn with a 1 basic cxcmnhon of each an nrtclilionnl SLOW for oacn i ._...... .arc under Ihe top JJJ.Q Of or, cbildi-cn iir.fior suspected for some time last pint; the pievUms hieh of fnc (lr 17 ,-cceivc an ad- nui.itb Ihc Marcli inrbes set in 1959 by more lhan ditiontil exemption of a ?cvcn inches. in Ihc city's hislory It rained nn 20 days in Van- couver in March, snowed on two and the mor.lh's rain- fall accumuhttori V.TJS in- year. -pne Muriinne legislation also U'AXT ECM VOTK provulrs cxeintitiou from gift LONDON fAI'i At least 73 j lax for cliaiilable donations of per of the people quizzed up (o Sl.vnv) a year and tnfls n( QUKIUCC (CP) Al least three persons will appear in court this week on con- nected with (lie .sc; weekend of a zw-tfallon slill val- ued at SlOfi.CflO. said j Tuesday. Inspector Liincn Dupont said the RCMP had mainlamcd sur- veillance for several weeks on a barn in Tleauco County. CO miles south of here. The still was in use when the raid look place last Saturday. Those arrested Included the owner of tbe barn, a icsident of nearby St. Come and a French nalional. They arc free pending their court appearances. Inspector Dupont said tlic slill, capable of producing 200 gallons of alcohol daily, is one of the largest ever discovered in Qunbec. Tlic barn was equipped with 18 reservoirs with n capacity of SM gallons. Atsn found on (he premises wore 150 gallons of al- cohol, SO sacks of sugnr, eight barrels n[ molasses and 300 pounds of yeast. of the federal move. LX'tails of the adjuslmcuL are rxpoi'led sliorlly when Mr. (ianuMii Ijriugs down his budgt-l The Ihronc speech al Ihe opening of llio Otiturio lurt last week annovmced that the govenuncnl is undcrttilunj! a major study with a view lo a complete revision n[ the Succes- sion Duties Acl. In the mean- time, it promised a re- clucLion of succession duluis as offsetting revenues am uc [rnm to establish a j would receive a ox- succL'Ssion duty and gift tax but cmplion. at Medicine Hal last I caPilal KaijIS lax- 1-: HAT (CD Coiibtruction of a million pelro chemical plant is expect- ed to si art here within three ciics, compjireci wiili a previous i by n i.r.'.ional oplorion want up to a year In a spouse high of P 79 inchcr, a referendum en whether Bril- and to any olber person. But if Vaiu-ouvcr was wet, Uic1 ain should join the European villape of Tofino on the Common Market. Calgary bus ranch Kisr. or miios kin.Erbini rot only drive off the hawk, bill The rale of succession duties I often mounts its foe's back and In the Mari times will range i rides astride it triumphantly. CUT PLAN'NHl) Hie throne Kpot'rli also an nounced reduction in Hie amount of succession duly paya- ble by Ilic amount of tax as- sessed apainst Ihc estate and a refund of the difference if the amount of pifl tax exceeds HIP amount of succession duly. The, (CP) Tho Cal-' measure was retroactive lo the start of the year- Also effective Jan. I, Ontario reduced to five years from in Hie period prior lo death in winch gifts made by the de- ceased would be subject to tax. The 15-year measure was im- posed temporarily when the fed- eral government first an- nounced Us withdrawal from (lie field. In amendments passed April 27, 1971, Onlario doubled the es- tate tax exemption lor preferred relatives such as parents, children and SlOD.lKiO and increased the exemption for widows and w i d o w e r s to 5200.000 from The legislation also abolished a surtax for pre- ferred beneficiaries antl in r.n ndditional exemption fur each year under the of 17. The Manitoba bill provides nn exemption [or charitable HP- quests of 20 per cent of the net value of Ihe estate, 50 per ccnl of the total value of such be- quests or Hie unused portion ol the exemption for pre- fcncd beneficiaries, whichever is Rrcatcr. Charitable fiifts during the do- nor's lifetime would lie free of both succession duty and gift i lax unless made at (he lime of i an illness because of fear ol Details of Manitoba's succes- 1 sjon dulv rale bare not yet been Mr. Olson said the plant, lo Gifl lax would be uc built by CanLcx Associates al 15 per cent for the of Huston, Tex., will employ 40 wilh n top people and manufacture a filler per cent in excess ot and reinforccr used in nibber non nionlhs. Agriculluro j II. A. Olson said Tuesday. products such as liros and con- I vcvor hslls. Details were also lacking In legislation introduced in Saskal- FinancinR will be aided by a incentive grant from jj exempted cslales of Ihc federal regional develop. pary YMCA lias acquired the j menl department. Diamond Cross Guest Hancb lo relocate ils residential camping program, Camp Chief Hector will move lo the l.OQD-acrc site 45 miles west of Hie city when a lease on the nearby Si one y Indian re or less, imposed a 12-per-ccnl succession duly on estates wilh serve expires nt the end of this summer, Mr. Olson said commercial 1 an average net value of production was cxpecled start next year. Newspaper sold AMIIERST, N.S. (CP) n. MacD, Black, publisher of The officials said they plani News, announced here ttie sale to c (lieir camping oro- J of the daily neu'spapej- lo Rich- to lo and 45 per cent on Ihosc valued at to 1 In nrilisli Columbin, where 73 per cent ol taxable estates was subject to provincial succession duty before Ottawa vacated Ihe gift and estate tax fields, the jiovernmenl has introduced a to increase the 0-McmpLion lo to include a co-education- al residential camp, a year- round meeting centre for com- mnnily groups, and campsites for family Only id acres of the new sile will belong lo the YMCA with the rest held on renewable, 20- ycnr leases from Ihc provincial government. ard M. Van Snick of Amhcrst. PLAN MD1ST MEETING BELGRADE (Renter) iVudisls from all over v.'orld from It also provides for long-term priynicnts of succession duly on family-owned farms and busi- nesses, permitting payment over a 10-year period without in- terest. (iift lax from 15 per will hold Iheir I irsl congress in rent nn flifts of or less to the norlheni Adriatic resort ol 50 per cent on amounts over Ravin j Aug. 2-9 this year. Mexican Peacock Whole or Cut-Up SERVING SUGGESTION SKYLARK MILK LOAF White or Brown Slked 20-oz. net wl, loaf Lemon Rolls DISCOUNT PRICES FLOOR WAX Airowax Liquid V OQ 16-fl. 01, lin J.-J7 CLEANER Dainly Bowl Aufomolic. 15-11. 01. Mi. EVAP. MILK Alpha 2% Tart Skimmed. _. for METRECAL SHAKES 3 net wl. pVg. RAVIOLI Chef-Boy, Ar-Dee. .....15-oi. neF lin PEAS USieur No. I ond 1 Can. Fey...... 01. Hn CHOWDER Snowi New Enplond Clom Condenicd 1C', 01. lin METRECAL DIET COOKIES 7 Vindi. .....6-OI. nol plq. CHOWDER Snowi Manhallon Condenw rt Clam JO'i-fl. 03. tin 99c 43c 33c 99c 39c SOFTEE TOFFEE KRAFT 4 Flavour. 7 OT. nel wl. pkg. SUPER SAVER for .00 or Turnovers FROZEN FOOD BUYS !CE CREAM SNOW STAR Potatoes 4 Delicious Flavour! I Washed Gems Canada No. 2 Cello Bag California Canada No, 1 i ii Hunches for Lunches (it Super Savers B.C. Canada Extra Fancy Spartans Koslior Plain FROZEN DNRS. MANOR HOUSE kinds wl, W TEEN PIZZA Weltepn I [ikn r ItiH.............. 13-Di. nel v-l. Irny 8, FRENCH FRIES 01. jnr Lunch Meat Chicken Spread PRICES EFFECTIVE IN LETHBRIDGE APRIL 5 B The new encyclopedia. vwimit i ii for oo, Qw .bog WE RESERVE THE RIGHT TO LIMIT QUANTITIES A FEW AY Clubhouse Mixes BROWN GRAVY, SIOPPV JOES, MIAT LOAF SEASONING b7. 1.87 Nel Wl. Pkg.. 5UPER A QQd SAVER Qf for f Christie's Coffee Brook or V.OOKIGS Gromco 1 4 16-oz nel wl. pfcg. Dressing Pears 2 Sand. Spread Krof1 _ VOL. 10 ON SALE NOW!