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Lethbridge Herald Newspaper Archives

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Lethbridge Herald (Newspaper) - December 9, 1970, Lethbridge, Alberta Finance ministers to make final tax pitch next February OTTAWA (CP) - A two-day federal-provincial finance ministers meeting ended Tuesday with agreement to meet again in Toronto in February to discuss tax concessions for small business. That may be the last chance the provinces will have to make their pitch before Finance Minister Edgar Benson makes final decisions on his plans for revis- ing the Income Tax Act, to be presented in a budget next spring. Charlse MacNaughton, Ontario provincial treasurer, presented a plan to today's conference to grant the owner-operators of small Canadian business a healthy tax cut on money they invest or re-invest in their enterprises. Mr. Benson said the Mac- MOBY DICK LIVES - Herman Melville's famous novel told of a fictious white whale, but scientists in Victoria, B.C., have the real thing. Named for the literary whale, the baby albino above is the world's only captive white killer whale. It measures about 12 feet long and weighs 1,500 pounds. Hard of Hearing? . . . See The New "DISCREET" Mr. H. W. Matheson available at EATON'S HEARING AID CENTRE Stereo Room-Second Floor MR. H. W. MATHESON OUR CERTIFIED HEARING AID AUDIOLOGIST Will be in LETHBRIDGE on Thurs., Dec. 10th 10:00 a.m. till 5:00 p.m. You won't believe your eyes or ears when you hear and see the "Discreet" by Qualitone. The most natural sounding eyeglass hearing aid we have ever made. Gone forever is artificial sound. No cost or obligation. Come in, call or write tomorrow. EATON'S HEARING CENTRE Second Floor Dial 327-8551 Naughton plan is interesting, but contained some difficulties. He did not elaborate. Ottawa's plan, embodied in Mr. Benson's white paper on proposed tax law revision 13 months ago, is to treat large and small Husinesses alike from a tax point of view, but offer small business some other form of help. Dave Steuart, provincial treasurer of Saskatchewan, described the MacNaughton proposal as a tax deferral plan and said Saskatchewan thinks the small businessman-including the farmer-should have a tax Strom urges more attention to conclusions of ECC EDMONTON (CP) - Premier Hairy Strom said today federal and provincial governments should give more attention to conclusions of the Economic Council of Canada. His comments came in a pre- pared statement issued just before the start of a meeting between the Alberta cabinet and Dr. John Smith, chairman of the economic council. The premier said they will discuss the council's seventh Youth Column Students protest to ombudsman OTTAWA (CP) - Love problems, tight money, landlord squabbles, academic problems-Tom Adamchick, a 23-year-old Renfrew native and student at Ottawa University, hears about them all. At work since September, the student ombudsman has a small office in the Students Federation headquarters. The post was originally set up by the federation to deal with purely academic problems, but demand has extended its services to other areas and has also forced Mr. Adamchick to hire as assistant Lucette Carpentier, a graduate student in linguistics. Mr. Adamchick works when he can during the day, and every night from 6 p.m. to 10 p.m. He is paid $20 a week which hardly covers his suppers. He describes his reward as "fulfilment." Mr. Adamchick's art is cutting through the administrative and bureaucratic maze that often confuses university students. The bulk of the 150 problems that the office has handled this year, however, involved lack of money and negligent landlords. CITY HELPS OUT The ombudsman office has had many complaints of high rents, sub-standard housing and even bed bugs. Mr. Adamchick knows the appropriate city officials to approach to correct such situations. And when student loans were delayed this year and students faced financial stress, the university placed him in charge of an emergency loan fund. But Mr. Adamchick says his most fulfilling work is handling problems that are social or emotional. If he can't help, he refers students to the uni- versity chaplaincy or to medical and psychitaric services. He told of one girl who wanted money to leave her husband. "We c o u 1 d n't solve her problem the way she wanted but we got her some counselling and now everything is fine." Mr. Adamchick hopes to be a community programmer some day. He spent three years studying for the priesthood and a year each in arts and law before entering education this year. He also was editor of The Fulcrum, the university paper, for a year and spent three summers working for the youth and recreation branch of the Ontario education department. annual report and the economic situation in Alberta. Mr. Smith was invited to discuss the economic development problems Alberta faces and to explore ways of improving the province's economy, Mr. Strom said. "The economic council performs a valuable role in terms of setting economic goals and evaluating performance and it would be desirable if governments - federal and provincial -paid more attention to the council's conclusions " Mr. Strom said the council's seventh annual report reflected many of the policy positions that Alberta has advanced for years. The statement mentioned the c o u n c i l's genera] conclusion that economic growth should be pursued "and not inhibited as some of the recent federal government policies are designed to do" The premier also praised the council for saying that disparities do not apply as much to regions as they do to individuals. "There are pockets of poverty in the most wealthy province as well as in the Mari-times. Our future policies must be designed to upgrade individuals so that they have the opportunity to increase their livelihood by participation in the mainstream of production." break as well as a tax deferral. The final session of the conference also looked briefly at the federal government's new white paper on social security, but put off detailed discussion until provincial welfare ministers have examined it more fully. They are to have a conference here starting Wednesday. Raymond Garneau, recently-appointed finance minister of Quebec, said the social security white paper, the federal government's white paper on unemployment insurance, and two studies nearing completion in Quebec on social security, now should form the basis of a general revision of the whole system. Quebec wants to take over more welfare schemes as a provincial responsibility. The Ontario plan for tax concessions to small Canadian business would be to allow a 50-percent credit against income taxes otherwise payable for any investment, up to $10,000 a year, that a person makes in his own business, whether individually-owned or a partnership. MORE ENCOURAGING This, Mr. MacNaughton said, would be a greater encouragement for small business than the current federal tax law which imposes a lower rate of taxes on the first $35,000 of business profits. The Ontario plan was tabled at the conference when it resumed its two-day session, dealing today with the federal white paper proposals for revision of the Income Tax Act. The federal plan would do away with the 21-per-cent tax rate on the first $35,000 of company profits, and tax all company profits at about 50 per cent. Ottawa has promised to introduce some other form of encouragement for small business. Mr. MacNaugliton's plan Satellite in 72 SPARWOOD (HNS) - The CBC is not thinking of providing a TV satellite to serve the Sparwood area before 1972. This is information received from MP Doug Stewart. Despite persistent pushing by the MP and representations to him and his predecessor going back about 10 years the CBC "won't budge." Latest word is the CBC, according to Mr. Stewart, can't be pressured. He passes along its decision that it intends to apply for a satellite to serve the area in 1972. would be limited to individuals who put money into their own small businesses in Canada. The maximum credit that could be claimed any year would be $10,000, and over the lifetime of the individual, $100,000. Investments in property, portfolio securities, and mining, gas and oil speculations would not qualify. Finance Minister Edgar Benson, chairman of the conference, was not expected to comment on the Ontario plan. He said Monday that he would withhold comment on such alternatives to his white paper proposals because he now is nearing the stage of making definite decisions on what changes in current law to propose to Parliament. INSURANCE r LIABILITY  BONDS r AUTO $ FIRE R0SSITER AGENCIES tTD. ESTABtlSHED 1911 Lower Floor 517 4th Ave. S. Phone 327-1541 For COLDS and GRIPPE 1. Rest in bed - 2. Drink plenty of fluids 3. Take Aspirin to reduce fever and relieve pain ASPIRIN WILL MAKE YOU FEEL BETTER FAST Aspirin is the Registered Trade Mark of The Bayer Company, Limited, Aurora, Ontario WE'RE OVERSTOCKED - BIG SAVINGS NOW! MEN'S PYJAMAS 11 ONLY MEN'S SUITS Double or single breasted. Sizes 38, 39, and 40. Regularly .79.50 WHILE THEY LAST ONLY 19 .50 All alterations extra ALL OTHER SUITS GREATLY REDUCED FOR THIS PRE-CHRISTMAS EVENT 3.95 MEN'S TOPCOATS AT BIG PRE-CHRISTMAS SAVINGS OF 20% Off SPECIALLY PRICED AT . . WINTER JACKETS and PARKAS CLEARING NOW AT BIG SAVINGS MEN'S BRAND NAME SPORT and DRESS SHIRTS CLEARING AT____ 20% OFF MEN'S HATS FINE WOOL FELTS . . 20% MEN'S HARRIS TWEED SPORT COATS Give itc/i Gift DOWNTOWN 608 3rd Ave. S. Phone 327-5767 O NORTH LETHBRIDGE 324 13th St. N. Phone 328-4441 RC/125 COLOR TV $595 ItCil 25" COLOR TV  Automatic scene control  Tone control  UHF-VHF operation  Instant on switch Mfg. Sugg, list 739.00, NOW ONLY ........ Automatic fine tuning Instant on control UHF-VHF operation  Swivel base Mfg. Suggested List 849.00. NOW ONLY Regularly 49.50. PRE-CHRISTMAS SPECIAL ....... Dressing Gowns Regularly 19.00 14.95 GIFT SPECIAL Men's Suspenders Button or cl.p style. Regularly 1.50. | AA SPECIAL .......... I.UW EVERYTHING MUST GO - SAVE 20% to 50% MEN'S WEAR 318 5th Street S. Phone 327-4210 ;