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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 8, 1972, Lethbridge, Alberta Snlurdciy, Apiil 8. 197! THE LFTIIBRIDGE HERALD 19 Afraid to tax companies The tfix column KuMONTON (CP) Provin- tax agreement oil :ompanles arc little more (linn "sweetheart deal because nc're ad-aid to Uix Ed- monton MP economist lln Harries said here. Dr. Harries, Liberal member Lelhbriclgc officer post gets OTTAWA (CP) MiiJ.-Gcn. Hugh McLaclilan, -M, bridge. Alia., lias hum an pointed head of llic .ilr trans- port commnitil o[ (lie Canadian Armed forces. lie replaces MaJ.-Gcn. Ches- ter [lull, .12, who will ho prom- olcrl to lievitopnnl-gcncral atul heconic vice-chief of defence staff. Gen. McLachlan now Is serv- ing in Otlawa wilh Ihc defence ricparlmenl manasemenl re- Tiew group. of tlie Commons for Edmonton j lratlicona, said in an address j :o the annual convention of the Alljerta Assessors Association it lime that oil companies and national transportation firms "begin to fake their fair load" of provincial taxes. lie re [erred to In- lerproviucial Pipe Line Co., the CNR, the CPfl and Air Conada. The railways were mononrills- llc and had "monstrous opera- tions" within Alberta, yet al- most all revenues went outside the province. Dr. Harries said considera- tion should be piven to taxing oil and gas reserves not yet developed. "Why don't municipalities tax the reserves? They're an asset it's on the books, the re- Gift tax system debatable By I. II. ASPKIl Tile flaws in the new model gilt lax scheme now lieing con- sidered by all provincial gov- crninenls oilier than Alberta, readily fall inlo two categories. The policy as a whole is debat- able, and Uie mechanics of im- plementation also leave much to be desired. On the policy side, it is diffi- cult to accept the fact that gifts from husband or wife should now be taxed. Gone also, with- out explanation, is the pro- vision that allows the farmer to make a once-in-a-lifclimc fiift of farm land, tax-free, to hi.n serves are there and they're! son in order to help liim gel valuable." SENTENCES UPHELD ABIDJAN, Ivory Coast (Ren- ter) Guinea's National As- sembly has ratified death sen- tences passed on 13 former min- isters convicted of being "fifth columnists" in connection with an attack on the country in 1970, Radio Conakry said Thursday. MONDAY, APRIL 8th SPIC and SPAN DRY CLEANERS BOTH LOCATIONS COLLEGE MALL 112 8th ST. S. MEN'S OR LADIES' 2-PIECE SUITS EACH One Day Only Monday, April 8ih CASH AND CARRY ONLY ad SPAN DRY CLEANERS COLLEGE MALL 112 8th ST. S. started on Ills own. This tnx exemption was considered hy many to be a valuable nid in ;eeping alive (he nolion of tlio jimily-opcraterl farm. Af a time when departnicnls agriculture are extolling Ilio ,'irtucs of the family farm as i mc.ins of preventing rural decline and vanquishing Ilio dragon of "corporate" [arming, t Is incongruous that depart- ments of finance are imposing tax which helps defeat that purpose. Perhaps (hey don't speak to one another. On tlie mechanics of the new gift tax system, one must con- :lude that the planners and draftsmen were unduly rushed n preparing tlie legislation. What other reason can be found o explain the fact that they gnored many ol the principles vhich gained national con- sensus during the last decade of tax reform discussion? Commentators have already pointed out the provision that -equires every citizen to file an annual return to each proviiv cial government declaring all gifts made during the year. The old law required only tax- able gifts to he reported. If this is a mistake in the drafting of of the legislation, a simple amendment can cure an other- wise Oi'wcllian situation in which all Canadians would be reporting their birthday pre- sents and the like. One wonders why tlie gift tax legislation does not allow a credit or deduction for federal nnd provincial capital gains tax thut may become payable when the gift is made, under the new federal and provincial capilal gains lax system. II is rumor- ed that such B credit may be intended, but it certainly doesn't appear In the legis- lation. AN EXAMI'MI W i I b o u I an amendment, iicre's what can happen. Fath- er slarls a farm or .small busi- ness hy Iwrrowing nnd invest- ing tw.oflo. He and his family work and develop it for a num- ber of years. By hard work and re-invcstmcnt of profits, it grows ill value to The assets are essentially non-li- quid, consisting of land, build- ings, machinery, inventories or goodwill. The son who ha.i worked with the fallKT says IK'S leaving to strike out on his own. The fath- er, now in advanced age, wants the son lo run the business, partly because he helped biiikl it and also lo assure himself and his wife of employment and income throughout their .ifetlme a situation much more typical than finance min- isters care to admit. The son has no money, so the father gives him the business, Etller the tax men wearing their assorted jursidiclional and departmental hats. Assum- ing the father i.s already in the lop income bracket, the gift of provokes n Federal capital pains tax of 47 per cent of half the capilal gain ot Mfl. Tlie tax is Then Ihe provincial capilal gains tax is, in Manitoba, 42.5 per cent of the federal tax. Provincial tax would be approximalcly So far the lotal tax is Then If provincial gift tax Is levied on the lotal value of tho Oddities in tlie News PARENTS) Send Your Child To EUROPE This Summer SPECIAL "9 COUNTRY TOUR" Including th" "Riviera" and 5 Dayi In "London Town" Deports July 10 for 36 Day! Air Fare ONLY A.T.A. Member! Also Eligible Phone 317-63 IS INSURANCE IS JUST NOT PART OF OUR BUSINESS -IT IS OUR ONLY BUSINESS Phone 327-3009 NEWARK, N.J. (AP) Lawyers are preparing briefs lor a New Jersey Civil Rights Division hearing on whether tlie noun "Mich" discrimi- nates against women. Lawyer Elinor P. O'Connor lias charged her former law firm employer of BUmno and Tompkins of New- ark willi paying her a week, ?50 less than her male contemporaries. The iirra said slie was less competent. Kevin Healy, a former clerk for Hie firm, testified before a hearing Thursday that alter Mrs. O'Connor filed the com- plaint, one of her superiors re- ferred to her as "a hitch." Tn previous testimony, the superior said he didn't re- member using the term. "The question Is whether the word 'bitcir is specifically derogatory to women or just an expression used against someone we might not said hearing examiner Burrell Ives Humphreys, He directed lawyers for both sides lo submit opinions on the matter. Ohio (AP) Topics for speeches and semi- nars at a conference on CONN VAN HORNE JACK WARBURTON 5 07 A 7lh STREET SOUTH Level out natural gas payments! Sign up for Most Albertans find it extremely diliicull to budget House- hold expenses successfully when bills vary Irom month- to-month. Thai's why so many gas company customers find our Pay- menl Equalization Plan a great help lo monthly budgeting. (Payment Equalization Plan) Canadian Western wilt eslimalo your annual gas con- sumption and divide Iho cost by Iwelve, This way you pay Ih8 same amount each month ol the year. For more Information on Iho Payment Equalization Plan, contact us. And wo'll level wilh you. cancoan uuesrenn noTuraLoas company LimueD women April 20-22 at Ohio Northern University include: "On Eeini; Young, Black and "On Being Young, Whilu and "On Being Head Librarian In Ihe United antl "Liv- ing Alone in Delaware, Oliio, and LikinR It." IKDIANAPOL1S CAP) The Indianapolis Zoo has been presented wilh a kinkajou. The animal, a slim woolly tree-dweller native to Latin America, was found in en area of overseas containers in the American Red Ball Transit Co. warehouse. John 0 s t e r m ey e r, who (ound the kinkajou, said Thursday It Is friendly, ft Is a common pet In Mexico and Central and South America. SEATTLE, Wash. (AP) Two robbers about eight years old, one armed with a .22-cal- Ibre pistol, tried to rob a 33- year-old truck driver. Kurt Wasland was on a downtown street when the yciuig bandit ordered: "Slick your hands up. This Is a real gun." Wasland thought he was playing, and took the weapon from Ihe boy. "That's my mother's the boy said, "and I'm going to get her." He and his companion fled. NOT VALUED Before their value M n (ood- flsh was recognized, tons of sturgeon woro and destroyed. brought ashore Largo females sturgeon species produce ns many as eggs at ono spawning. of tha of fish may Find more jobs for students OTTAWA (CP) The man- power department found jobs or students last sum- mer, an increase of 3Q per cent over 1070 and its best showing so far in finding summer work for students. Manpower centres reported applications from stu- dents seeking work In dur- ing the summer holidays. It noted however that a number of students applied ot more than out manpc'.ver centre. The department said in a news release that stu- dents were employed in the pri- vate sector and the remaining students worked for federal, provincial and munici- pal departments and agencies, as the legfslatlon now pro- 'iclcs, the pifl lax would be an- tlier JGa.COO, for a grand total t or 54 per cent of Ilio 'alue of Ihc father gave lie son somelhing tlie son builrl himself. Even if the law U nmentled o allow a deduction from Ihe axahle value of Ihc gift lo ac- for Ihe capilal gains laj, ho combined capilal gain atxl jit lax would sljll be or about 44 per cenl. TAXATION Apart from Llic facl tbal this double laxBlion in its most otc.sque form, lliore is no vay Hie son or Hie father can )ut together the cash needed lo tay Ihe tax. Ko Uiey lull make 10 gift. The snrae thing will lappcti in degrees vhen families transfer crjl- agos, antiques and heirlooms One can surely rest easy in lis bed at nighi knowing lhal Jicre are Ihose who drafl in- jenious to protect us by Hie assets of those. who wilh Iheir vast tortures of might othenvisc domi- nate us. How much bellcr thai ic be dominated by the loving slale. Another provision requiring reconsideration is lhat which ranis Ihe provincial govern- ment n lien on all personal property ol all taxpayers lor any gift lax (hey may owe. As presently drafted, it could ncan thai if one buys an as- sel, say a ear, from someone else who happens, unbeknown .0 Ihc buyer, lo owe some gift ,as, the car could be seized from Ihe innocenl purchaser to salisly tuo tax debls o[ the sell- Unlcss the law U clarified (o make it clear that ths govern- ment's lien will nol apply lo Innocenl buyers who have no notice of tlio seller's liabilily, which must surely be the in- lent, commercial transactions will be stymied because before one buys anything he will have to go through Ihe ponderous process of getting a tax depart- ment clearance in respect of the asset he la buying. And worse, the law does riol con- lain any provision requiring the government to issua ccilifi- ol clearance. These few observations cover only a fraction of the issues which require discussion. There is a solution, hut one which ap- pears unacceptable to ol leasl some of the provincial rpvern- mcnU involved, Manitoba par- ticularly. That is lo break with tradition and allow public hear- ings on this tax legislation, just as public submissions arc per- mitted and welcomed on almost all other legislation. These laws are far loo com- plex lo be understood or de- baled by only Ihe elecled rep- esentatives o! the. public. Pub- lic hearings would produce more discussion, and in tlie end, better legislation. (.Mr. Asper is a Winnipeg lawyer) INSURANCE LIABILITY BONDS AUTO FIRE ROSSITER AGENCIES LTD, ESTABLISHED 1911 lower Floor 517 4lh Avo. J. Phone 377-1541 CASE LOT PRrCES! INTERNATIONAL HARVESTER CO. OF CANADA LTD. 304 STAFFORD DRIVE, IETHBRIDGE PHONE 327-312S ALEX ELCHYSHYN ESTATE FARM AUCTION SALE MILE SOUTH THOMPSON'S STORE AT KIPP, ALBERTA MONDAY, APRIL 1OTH TERMS CASH NO HEStRVl SAIE STARTS P.M. MACHINERY John Dwro 14T Baler, John Deere B94A side dell-ory rake; Jchn Deere No. 8 P1O 6 fl. mower, tand levnller, Ditcher; Calkins Troshmaslcr TO fl. rndweL-dor, 4 sections dromond harrowj; Mosiny Harrij 17-ft. pull typo iwalher, Cajo manure spreader; Vic'cry e.fl blade mcrken 2-CoSfl pull.typo combines- 6-M. boel rfrill; Befif rulMvotcr; planter, Polalo digger; Cajo I Off. pren drill, Jeoflroy 10-ft. euMivntor. TRACTORS TRUCK IHC rarmoll Super M row crop IrcKtor hydraullcl, PTO, front end loader olid bucket. IHC Farmoll A trader with 3 point hitch cW PIO Fargo 2 Ion truck. IRRIGATION EQUIPMENT 4 MISCELLANEOUS Approx, 50 AQ'xA" irrigallon nnd iprinVlecii Poramounl sprinkler purr pi 5" intake-, A" oulfel; Irrigation pipo lioiferi Truck beet boxj 7 Ml. qrain bcdcrj 15-fl. x 4-in. ougerj Quonlily of '.i-in. plywood; Lumber, Windowij Bnrb wfra and leg vlie, At there are very few imall urge e very on to bo at tho inls shnrp at l-.QQ p.m. HURLBURT AUCTION SERVICE LTD. Phone 328-4705 1920-2nd Ave. S. Lelhbridge, Alfa. AUCTIONEERS TED NEWBY KEITH ERDMANN No. 41 Liccnis No. 45B WILLOW CREEK SATURDAY, APRIL 15th Will be held on the Southern Paving Lot Located directly acrosi from Rancher Supply m CLARESHOLM (Over the track on Starllne) 10 A.M. TERMS: CASH IUNCH AVAILABll TRACTORS ALMS CHALMERS D21 DIESEL CAB ONLY 1300 HOURS Allii Chalmen 17, three-point transmission, overhauled) Allis Chalji Chalmers WD gas. PTO. Mich, hydraulic, hl-lo icn XD 190, cob; Allii COCKSHUTT 1850 DIESEL 1966 MODEL CAD FENDER TANKS, 100 GAL. FUEL CAPACITY TOTAL CockshuM 770 gas, cob, Al condition, new tires on bock; Caso 930 diesd, 1962 model, cab; Mosscy Ferguson good condilion; Majsey Ferguson 95 super diesel, cob) ferguson 95 diese-ll; Masley Ferguson 95 pro- pane, cab, overhauled, good running orJer; Money 102, new rear tires. Chrysler motor just overhauled; Massev Har- ris 55 diesel; Mcssey Harris 44 gas; 2 Minneapolis-Moline GED dicsels; IHC 560 propane, excellent conditilcnj IHC 560; IHC 656, complete v.Mh torque amplifier and power sfeeringj [HC 450 gns, complete with IHC loader, torque amplified, PTO; IHC Sunr- WD9, excellent con- dition; Wn 901 troclors. DISCERS John Deere 12 ll. Surflex diicer; Massey Karris model 26 Hfsccr, 15 CCIL 18 dijcer compltle with iced box and ferliliicr oMachmcnf. ROD WEEDERS AND PLOWS Edwards 36 ff. rod weeder, 2 row shanksj Edwards 28 ft. rod weeder, 2 row shanks) IHC 14 ft. HD rod weeder; John Deere 12 ft. 400 rod weeder; Graham 12 fl. chisel plow wilh rod weeder oltcch.; Graham 15 r't. chisel plow; CockshuM 12 ft. chisel plow wMh rod wcedoc; Masscy Fer- guson M fl, 2 furrow ptowj John Deere 650 14 fl. chisel plow. CULTIVATORS Coclcshun 14 fl. HD cu.liVQlor- Cockshuf. U fl. HD cultivator; 10 fi. AU row crop cultivator for 1020, 1120 or 2020 John Deere tractorj Noble double implement hilch, model AVAV, adjustable far 1 0 ft. or 1 4 fl. cullivalor, almost new. BALERS Massey Ferguson No. 12, 1970 model. Only baled bales; Massey No. 12, ready rn go; Mossey Ferguson No. motor driver, good condition; Massey Fer- guson No. 10, completely reconditioned; John Deere No. Id Tj JoHn DGCTR No. 2 Balo for 24T Deere balers IHC 46 bolcr, IHC 47 baler, PTO; New Hol- land 269 baler wilh super sweep pick Lip and Allseed alooker; New Holland No. 272 baler, VH 4D Wise, molor. NEW HOLLAND 1035 BALE WAGON SEIF PROPELLED, 69 BALE CAPACITY, COMPLETE REBUILT MOTOR, NEW CLUTCH SWATHERS Versdile 15 ft. model 103 iwolherl Vorsalilo 18 ff. mode! 103 self-propel led iwaiher; 2 Mnssey Ferguson No. 20 jwnlhcrs; Massey Ferguson Nn. 34 self propelled >2 ft. swather with hay concf., pick-tip rrH, good motor, 45 h.p.; John Dccrc No. 215A self propelled 14 fl. iwolher with hoy cond., good conditionj New Holland 905 14 fl. swalher. MISCELLANEOUS 2 John Deere mo Hoi 7 .IB plonier j wilh iced plates; 3 8 fl Fcr1 a mm is, now I 80 Cominf o for Nohln drilU; Nohln drill, 2 7 ft. setliam wilh fert, oirathmrnl nnd hiich: John Orr-rc- sulty rnL'r, 14 fr., newt IHC 1957 T? fnn I'ucfc; IA Coin DU ALL No. 300 fronl end fciutlnr- Moyralh 41 ft. nmin ougcr wi'h electric star I gas molori Diamond chaff b'o-vor rompleln with wagon fo fit 48" combine; Johnson 1 I fl, blade; Portable 300 gallon 2 compartment fuel tank. 8000 IBS. BJ MIXER WAGON COMPUTE ElECTRONIC SCALE 1. Please mnkc you lo sale. iwn financial arrangement! prior lo snle. Tho above list ii subject lo dclelioni and additions. will be accepted until Friday, April 14, 3, AH equipment must be removed from the lot by Iho purchaier before April 19, 1972. KEN HUR1.BURT licence No. 274 AUCTIONEERS TED NEWBY Mo. 41 DAVE McNAB licence No. 670 ;