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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - March 7, 1974, Lethbridge, Alberta Thursday, March THE LETHBRIDQE HERALD-11 Normal Vancouver 43 Edmonton togina Winnipeg Toronto Ottawa Montreal Halifax SI. John's Near Normal lenriDerdture Normal Precipitation Vancouver 3.8 Edmonton Regina Toronto Ottawa Montreal Halifax St. John's Below Normal PrecipitationK Cold and dry Near-normal and above-normal temperature readings are expected to cover most of the country for the first-half of March, according to the long-range weather out-look of the United States Weather Bureau. Precipitation is expected to be below-normal for most of Canada, with above readings expected for the Marl- times, British Columbia, Alberta and portions of Sask- atchewan. This is not a specific forecast and changes may occur. Raps railways on inability to move grain CALGARY (CP) J. W. Madill, general manager of the Alberta Wheat Pool, says it is due to the inability of the railways that grain is not moving satisfactorily this year. He said in a prepared statement today that there are enough country elevators and export terminals to handle the grain. Mr. Madill said on March 1, the Pool's Vancouver terminal, with a capacity of 73 million bushels, had only 1.5 million bushels in store. On the same date, both major railways had only 87 boxcars available for unloading grain. "If sufficient grain cars can be provided by the railways, the Alberta Wheat Pool has the facilities to unload 240 boxcars in three eight-hour shifts or 150 boxcars in twc eight-hour shifts. The 19 ocean vessels waiting in Vancouver harbor further demonstrate the railways' inability to deliver grain to the port in required volume." Mr. Madill said the country elevator system is impaired by the lack of boxcars. "For instance, at present 80 per cent of northern Alberta elevators are congested. This further illustrates the, inability of the railways to meet the supply and demand under the existing program." He also said if the railways can supply adequate boxcars, the 27 men laid off at the Vancouver terminal will be recalled. He said the Pool "has been forced to employ one unloading shift due to continuous lack of grain cars." Tax tips For further information, call the District Taxation Office. If you live in a toll area, ask your long-distance operator for ZENITH 0-4000 and your call will be placed without charge. Q. I purchased a combine and gave grain and livestock as part payment. How would I handle this transaction on my income tax return? A. You should report the dollar value of the grain and livestock as income. Capital cost allowance could be claimed on the full cost of the combine. A. What may I claim on my income tax form as wages to my children for work on the farm? A. Basically, you may claim an amount that was paid, to your child if the child performed work which would have otherwise required the employment of hired help. Also, the amount paid must be in line with what would have been paid to a stranger, the work done must be related to farm income, and the payments to your children must be properly vouchered. Q. The farm I operate is about 10 miles from town. During the summer months we live on the farm, then move to town for the winter months. Can I claim on my income tax expenses such as taxes and repairs on our town house, for the portion of the year during which we live in it? A. Expense paid for the maintenance of your town house are considered to be of a personal nature and are therefore not allowable as a deduction from income. Q. I am a farmer. At the end of 19711 had a total herd of 100 cattle of which 75 were approved basic herd. The average value of my herd at December 31. 1971 'was f350 per animal so that the value of my basic nerd at that time was During 19731 sold most of my herd and now have only 30 animals left. I understand there is a compulsory reduction of my basic herd to no more than the total number of animals in the herd at the end of 1973. The price of cattle has increased so I received more than per animal, in fact 1 averaged about per animal. How do I calculate the deduction from total sales to reflect the nan taxable portion on the disposition of part of my basic herd. A. The formula is relatively simple: Reduction in Basic Herd X Value of Total Herd December 31. 1971 at Number of animals in herd at December 31. 1971 The selling price does not will be used to determine your come into this calculation, but sales for the year. Using your own figures: 75 30 equals 45 x equals 300 Refer to the book Bask Herds available at your local District Taxation Office. 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