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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - April 8, 1972, Lethbridge, Alberta Afraid to tax companies The tfix column Snlurdoy, Apiil 8, 1972 THE LfTIIBRIDGE HEUMD 19 (CP) Provin- cial tax agreement witli oil wmpanlcs arc little more than "sweetheart deal because ne're afraid to lux Ed- monton MP economist Hu flames said here. Dr. Harries, Liberal member Lethbridgc offic er post gets OTTAWA (CP) Miij.-Gcn. Hugh McLaclilan, 49, of Lctli- bridgc, Alta., lias Iwcn ap- pointed head of the air trans- port command of (he Canadian Armed forces. He replaces MaJ.-Gen. Ches- ter Hull, 52, who will be prom- oted to lieutenant-general mid hecome vice-chief of defence staff. Gen. McLachlan now Is serv- ing in Ottawa with the defence department rtew group. management re- of tlie Commons for Edmonton j Strallicona, said in an address j [o the annual convention of tlic Alberta Assessors Association it is lime Hint oil companies and national transportation firms "begin to take their fair load" of provincial taxes. lie referred specifically to In- tcrprovincial Pipe Line Co., tlie CNR, tlie CPR and Air Canada. The railways were mononnlis- Ic and had "monstrous opera- tions" williin Alberta, yet al- most all revenues went outside the province. Dr. Harries said considera- tion should be given to taxing oil and gas reserves not yet developed. "Why don't municipalities lax the reserves? They're an asset it's on the books, ttie re- serves are there and valuable." Gift tax system debatable By I. ASI'KH Tlie flaws in the new model gift tax scheme now being con- sidered by oil provincial gov- ernments other than Alberta, readily fall into two categories. Tho policy as a whole is debat- able, and Uie mechanics of im- plementation also leave much to be desired. On tlie 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-lifclime gift of farm land, tax-free, to his SENTENCES UPHELD AB1D.1AN, Ivory Coast (Reu- (or) Guinea's National As- sembly lias ratified cloalli sen- tences passed on 13 former min- isters convicted of being "fifth they're in order to help liim gel started on his own. This tax exemption was considered by many to be a valuable aid in seeping alive (he nolion of tho amily-opcrated farm. At a time when departments of agriculture are extolling the columnists" in connection with an attack on the country in 1970, Radio Conakry said Thursday. MONDAY, APRIL 8th is 1.44 SPIC and SPAN AT 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 DRY CLEANERS COLLEGE MALL 112 8th ST. S. virtues of the family farm as a means of preventing rural decline and vanquishing tho dragon of "corporate" farming, t is incongruous that depart- ments of finance are imposing tax which helps defeat Hint mrpose. Perhaps they don't ipeak to one another. On the mechanics of the new gift tax system, one must con- :lude that the planners and draftsmen were unduly rushed n preparing the legislation. What other reason can be found o explain the fact that they gnored many of the principles vhich gained national con- sensus during the last decade of tax reform discussion? Commentators have already pointed out the provision that every citizen to file an annual return to each provin- cial government declaring all gifts made during the year. The old law required only tax- ible gifts to he reported. If tliis s a mistake in the drafting of of the legislation, a simple PARENTS) Send Your Child To EUROPE This Summer SPECIAL "9 COUNTRY TOUR" Including the "Riviera" ant? 5 Dayi In "London Town" Deports July 10 for 36 Dayi Air Fore ONLY A.T.A. Members Also Eligible Phone 327-6318 amendment can cure nn other- wise which Orwclllnn situation in all Canadians would be reporting their birthday pre- sents and tlie 3ike. One wonders why the gift tax legislation does not allow a credit or deduction for federal and provincial capital gains tax that may become payable when the gift is made, under the new federal and provincial capital gains tax system. It is rumor- ed that such a be intended, but credit may it certainly doesn't appear In the legis- lation. AN EXAMPLE Without an amendment, here's what can happen. Fath- er starts n farm or small busi- ness by borrowing and invest- ing He and his family work and develop it for a num- ber of years. By hard work and re-investment of profits, it grows in value to Tlie assets a re esscnti a lly non-li- quid, consisting of Jand, build- ings, machinery, inventories or goodwill. Tlie son who has worked with the says IK'S leaving to strike out on his own. Tlie fath- er, now in advanced age, wants the son to run the business, partly because he helped biiikl it and also to assure himself and his wife of employment and income throughout their lifetime a situation much more typical than finance min- isters care to admit. Tlie son has no money, so the father gives him the business, E tiler the t ax men wearing their assorted jursidictiona! and departmental hats. Assum- ing the father is already in tho top income bracket, tho gift of provok i'3 a Fed era I capital gains tax of 47 per cent of half the capital gain of (100. The tax is Then the provincial capital gains tax is, in Manitoba, 42.5 per cent of tlic federal tax. Provincial lax would he approximately So far the total tax is Then if provincial gift tax Is levied on the total value of the Oddities in the News NEWARK, N.J. (AP) Lawyers are preparing briefs for a New Jersey Civil Rights Division hearing on whether the noun "bitch" discrimi- nates against women. Lawyer Elinor r. O'Connor lias charged her former law firm employer of Lum, Biimno and Tompkins of New- ark with paying her a week, less than her male contemporaries. The firm said she was less competent. Kevin Healy, a former clerk for the firm, testified before a healing Thursday that after Mrs. O'Connor filed the com- plaint, one of her superiors re- ferred to her as "a hitch." fn previous testimony, the superior said he didn't re- member using the term. "The question is whether the word 'bitch' is specifically derogatory to women or just an expression used against someone we might not said hearing examiner Burrell Ivcs Humphreys, He directed lawyers for both sides to submit opinions on the matter. DELAWARE, Ohio CAP) Topics for speeches and semi- nars at a conference on nloreaitn INSURANCE IS JUST NOT PART OF OUR BUSINESS -IT IS OUR ONLY BUSINESS Phone 327-3009 CONN VAN HORNE JACK WARBURTON 5 07 A 7lh STREET SOUTH vei out those natural gas payments! E0T T Sign up for Most Afbertans find it extremnfy difficult to budget House- hold expenses successfulfy when bills vary from month- lo-month. That's why so many gas company customers find our Pay- ment Equalization PJana great help to monthfy budgeting. (Payment Equalization Plan) Canadian Western estimate your annual gas con- sumption and divido the cost by twelve. This you pay the same amount each month of the year. For more Information on the Payment Equalization Plan, contact us. And wo'l! [eve! with you. canaoian uuesiern naiuraLGas company LimiTeD women April 20-22 at Ohio Northern University include: "On Being Young, Black and "On Being Young, White and "On Being Head Librarian in the United and "Liv- ing Alone in Delaware, Ohio, and Liking II." INDIANAPOLIS CAP) The Indianapolis Zoo has been presented with a kinkajou. The animal, a slim woolly tree-dweller native to Latin America, was found in an area of overseas containers m the American Red Bail Transit Co. warehouse. John 0 s t e r m ey e r, who found the kinkajou, said Thursday it is friendly. It 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 year-old truck driver. Kurt Wasland was on a downtown street when the yciuig bandit ordered: "Stick your hands up. This Is a real gun." Wasland thought he was playing, and took the weapon from the boy. "Thai's my mother's the boy said, "and I'm going to get her." He and his companion fled. Find more jobs for students OTTAWA (CP) The man- power department found jobs for students last sum- mer, an increase of 3S per cenl over 1970 and its hest showing so far in finding summer work for students. Manpower centres reported applications from stu- dents seeking work In 1971 dur- ing the summer holidays. II noted however that a number ol students applied at more than one centre. The department said In news release that stu- dents were employed in the pri- vate sector anci the remaining students worked for federal, provincial and munici- pal departments and agencies, NOT VALUER Before their value aa ft food- fish was recogniyxxl, tons of sturgeon were brought ashore and destroyed. jifl, as the legislation now pro- vides, the gift lax would be an- other for a grand total of or 54 per cent of tho value of what the father gave ie son something the son iclped build himself. Even if the law la amended :o allow a deduction from the xixable value of the gift to ac- count for the capital gains Uie combined capital gain aixl gift tax would still be or about 44 per cent. DOUBLE TAXATION Apart from tlic fact that this double taxation in its most grotesque form, tlicre is no way the son or the father can together the cash needed to the tax. So they will make no gift. Tlie same thing will iiappcn in varying degrees when families transfer cot- .ages, antiques and heirlooms One can surely rest easy in lis bed at night knowing that there are those who draft in- genious laws to protect us by confiscating the assets of those. who with their vast fortunes of might otherwise domi- nate us. How much better that we be dominated by the loving ,talc. Another provision requiring reconsideration is that which rants the provincial govern- ment a lien on ell personal property of all taxpayers for any gift tax they may owe. As presently drafted, it could ncan that if one buys an as- set, say a car, from someone else who happens, unbeknown ,o the buyer, to owe some gift .as, the car could be seized ;rom tlie innocent purchaser to satisfy tho tax debts of the sell- Unless the law U clarified to make it clear that UK govern- ment's lien will not apply to innocent buyers who have no notice of the seller's liability, which must surely be the in- tent, commercial transactions will be stymied because before one buys anything he will have to go through the ponderous process of getting a tax depart- ment clearance in respect of the asset he is buying. And worse, the law does not con- tain any provision requiring the government to issue certifi- cates of clearance. These few observations cover only a fraction of the issues which require discussion. There is a solution, but one which ap- pears unacceptable to at least some of the provincial gpvern- incnts involved, Manitoba par- ticularly. That is to break with tradition and allow public hear- ings on this tax legislation, just as public submissions arc milted and welcomed on almost all other legislation. These laws are far too com- plex to be understood or de- bated by only the elected rep- resentatives of tho public. Pub- lic hearings would produce more discussion, and in tlie end, better legislation. (.Mr, A.sjn'r is a Winnipeg lawyer) INSURANCE LIABILITY BONDS AUTO 0 FIRE ROSSITER AGENCIES LTD, ESTABLISHED 1911 Lower Fbor 517 4lh Ava. t. Phone 327-1541 MASS Largo females of tha Win sturgeon species o! fish may produce ns many as eggs at one spawning. ALL SIZES ASK ABOUT OUR CASE LOT PRfCES! Size] to fil and Need A Belt? Sea International INTERNATIONAL HARVESTER CO. OF CANADA LTD. 304 STAFFORD DRIVE, IETHBRIDGE PHONE 327-3125 ALEX ELCHYSHYN ESTATE FARM AUCTION SALE 14 MIIE SOUTH THOMPSON'S STORE AT K1PP, ALBERTA MONDAY, APRIL 1OTH TERMS CASH SALE STARTS P.M. NO RESfRVl MACHINERY John 14T Baler; John Deere 896A delivery rake; John Deere No. 8 PTO 6-ft. mower; Land lovelier; Ditcher; Calkins Troshmasler TO f1. rod weed or r 4 soctmni diomond Money Harris 7.-ft. pull typo iwarherj Co so manure Victory 8-fl. blade me rken pull-typo 6-lt. beet Hrill; Beef cultivator; planlDr; Polato digger; Caso I Oft. pren drill; Jeoffroy I0-ft. euMivaior. TRACTORS TRUCK IHC Farmall Super M row crop 1r tic for with hydra ullci, PTO, front end loader and bucket. IHC Forma 11 A Ira dor with 3 poin! hitch nnd PTO Fargo 2 1on truck. IRRIGATION EQUIPMENT MISCELLANEOUS Approx, 50 40'x4" Irrigation and iprmlcFeri) Paramounl sprinkler purnpi 5" intake-, A" outfet; Irrigation pipo troifer; Tfuelc beet box; 2 Ml. qrain loader; 15-fl. x 4 -in. auger; Qu on lily of U-in. plywood; turn be ry Windowt; Bnrb wrre and leg viie, At there are very few imall he mi, we urge e very on to be at tho icile shnrp nt p.m. HURLBURT AUCTION SERVICE LTD. Phone 328-4705 1920-2nd Ave. S. Lelhbridge, Alta. AUCTIONEERS TED NEWBY KEITH ERDMANN Lieenie No. 41 License No. 458 WILLOW CREEK SATURDAY, APRIL 15th Will be held on the Southern Paving Lot Located directly across from Rancher Supply in CLARESHOLM TERMS: CASH TRACTORS (Over the Irack on Starllre} 10 A.M. LUNCH AVAIlABtl ALLIS CHALMERS 02! DIESEL CAB ONLY I3DO HOURS Allii Chalmeri 17, three-paint Mich, hydraulic, hl-lo transmission, overhauled, Allii Chalmen XD cab> Allil Chalmeri WO gas. PTO. COCKSHUTT 1850 DIESEL 1966 MODEL CAB FENDER TANKS, 100 GAL. FUEL CAPACITY TOTAL CockshvJlt 770 cab, Al condition, new Jires on bock; Coso 930 dicscl, 1962 model, cab; Masscy Ferguson 97, goad condition; Masscy Ferguson 95 super diesel, cab; Ferguson 95 diese-ls; Massey Ferguson 95 pro- pane, cob, overhauled, good running order; Massey 102, new rear tires, Chrysler motor just overhauled; Massey Har- ris 55 diesel; Massey Harris 44 gas; 2 Minneapolis-Moline GBD diesels; IHC 560 propane, excellent condition, IHC 560; IHC 656, complete with torque amplifier and power steeringj tHC 450 gas, complete with IHC loader, torque amplified, PTO; IHC Super WD9, hydraulics, excellent con- dition; W6 901 tractors. DISCERS John Deere 12 fl, Surflex diicer; Massey Harris model 26 dfscer, 15 CCll 18 ff. discer compk-te with leed box and ferlilizer aMachmenr. ROD WEEDERS AND PLOWS Edwards 36 ff. rod weeder, 2 row shanks; Edwards 28 ft. rod weeder, 2 row shanksj IHC 14 ff. HD rod weeder; John Deere 12 ft. 400 rod weeder; Graham 12 ff. chisel plow wilh rod weeder olfcch.; Graham 15 ft. chisel plow; CockihuM 12 ff. chisel plow rod Massey Fer- guson 14 ft, 2 furrow plowj John Deere 650 14 fl, chisel plow. CULTIVATORS Cockshutl 14 fl. HD cultivator; CockshuM 14 ft. HD cultivator; 10 ft. AU row crop cultivator for 1020, 1120 or 2020 John Deere tracforj Noble double implement hitch, model adjustable far 1 0 ft. or 1 4 fl. cultivator, almost BALERS Massey Ferguson No. 12, 1970 model. Oniy baled bales; Massey Ferguson No. 12, ready ra goj Massey Ferguson No. 12, motor driver, good condition; Massey Fer- guson No. 10, completely recondilioned; John Deere No. 1 A Tj John Deere No. 2 Bale Efector for 24T John Deere baler; IHC 46 baler, IHC 47 baler, PTO; New Hol- land 269 bafer wilh super sweep pick up and Allseed stooker; New Holland No. 272 baler, VH 4D Wise, motor. NEW HOLLAND 1035 BALE WAGON SELF PROPELLED, 69 BALE CAPACITY, COMPLETE REBUILT MOTOR, NEW ClUTCH SWATHERS Versatile 15 ft. model 103 sel (-propelled jwotherj Versatile 18 ft. mode! 103 self-propelled swalher; 2 Massey Ferguson No. 20 Massey Ferguson No. 34 self propelled >2 ff. swamer with hay corvd., pIcV-up reel, good mofor, 45 h.p.; John Deere No. 215A self-propelled 14 ft, iwdher with hoy con good conditionj New Holland1 905 14 ft. swather. MISCELLANEOUS 2 John Deere model 3 -1B pinnies with plafes; fl. Fcrl. attach mm is, now mode! 80 Cominfo for Noblfi drills Noble hoe drill, 2 7 ff. with fert. otfochmonl and hilrh; John Dcr-rc- sulky rake, 14 ff., newj IHC 1957 I? fan Ifuckj IA Cosrj londor, DU AU No. 300 front end fondnr; May rath 41 ff. rjmin ougcr wilh eledric sfart gas molorj Diamond chaff Mow or com plot a wilh wagon to fi1 48" combine; Johnson 1 ft. blade; PcrtabTe 300 gallon 2 comparlment fuel tank. 8000 LBS. BJ MIXER WAGON COMPLETE ELECTRONIC SCALE NOTE: 1. Pleaso mnlce your own financial arrangement] prior to sale. 2. Tho above list it subject to deletioni and additions. Consignments will be accepted until Friday, April 14. 3. All equipment must be removed from the lot by Iho purchaser before April 19, 1972. KEN HURIBURT Licence No. 274 AUCTIONEERS NEWBY Licence Ho. 41 DAVE McNAB Licence No. 670 ;