Winnipeg Free Press Newspaper Archives Mar 8 1990, Page 18

Low-resolution version. To view a high quality image

Start Free Trial
Winnipeg Free Press (Newspaper) - March 8, 1990, Winnipeg, Manitoba Winnipeg free press March pages 1726 Philip business editor business by John Douglas Winnipeg free press the left wants higher personal the right wants huge spending some want a pet and others would keep the what everyone Doest want is the since finance minister Michael Wilson announced the government would adopt a goods and services his strongest defence has been that no one has come up with a suitable the seven percent goods and services which takes affect will replace the 70 year old manufacturers sales that Levy is a hidden tax applied during to brings in revenues of about billion most agree the most is antiquated and it is the Only con sumption tax in the world that treats Domestic goods More harshly than All three Federal Par ties agree the most should be re Wilson argues that after an Exten Sive the get is the Best numerous solutions but economists and tax experts have come up with numerous other while most simply tinker with or reshuffle the existing tax two innovative ideas have emerged As the Best Hopes for re placing the one which has been endorsed by the Howe the economic Council of Canada and leading economists such As Jack Mintz of the University of John Walley of the univer sity of Western Ontario and Allen Maslove of Carlton suggests the get be replaced by a personal expenditure rather than taxing every Sepa rate the pet would tax Gross personal it is another form of consumption tax without the bureaucratic complexity or exemptions involved with the the pet would be applied on a tax base calculated by adding total yearly income and borrowings then subtracting the total would be the taxable a Flat tax rate would then be applied on the using tax data from canadians earned billion and paid personal taxes of the difference billion was enhanced by borrowings of another billion was Leav ing a total of billion in taxable a study by the Fraser institutes Michael Walker suggests a cent pet on the billion in 1988 would have raised the same reve nue billion As the 12per cent applied to the current fiscal Situ Walker calculates the pet could do at per what the gouge screw the get and you parts some Call it a recipe for economic others Call it the largest tax grab in this the free press examines what every body Calls the most important tax measure in recent get will do at seven per even if the Federal government wishes to boost its Revenue from the tax by the 33 per cent which is proposed with the new Only a tax rate would be re Walker the propos Al looks entirely Walker Calls the pet the Best alternative to the the tax would use existing Busin esses would submit their receipts either monthly or a pet would not directly Impact on the consumer Price avoid ing inflation and other economic it would be a fair tax because it targets Gross it would encourage people to save Money and pay Down debts because both would reduce an individuals taxable in an expenditure tax would be said Irene a senior policy analyst for the Howe inst with the current proliferation of sales taxes at two and other people dont know what they an expenditure tax hits at a persons source of buying another made by to Ronto Liberal Dennis Calls for a single tax to replace personal and corporate tax systems and a most reduced by half to per All personal and corporate taxes would be levied at 25 per family pensions and rasps would reduce personal a family of four earning would pay no taxes while the same family earning would pay taxes at 16 per cent and those earn ing or More would be taxed at 21 per corporations would be taxed at a 25 per cent marginal rate on reve Nues less the Cost of interest on Loans and dividends paid to Canadian a further 20 per cent depreciation tax would also be it would raise the billion brought in by the plus another billion from the underground Mills is backed by american economists Robert Hall and Alvin Rabushka of Stanford University and founders of the Fla tax move ment in the it also has the approval of the Canadian tax foundation and the Canadian Council on social Federal officials that both suggestions would would distort the manufacturing the they would distribute the tax Burden More fairly and remains a simpler Federal officials say the tax hits the Rich harder than the be cause they spend More Money on even Banks who Many complain do not pay their fair share of taxes will pay about Mil lion More in taxes under the but unions and the nip argue that if the government was really interested in it would tax the Rich More and introduce a mini mum corporate tax similar to the 20 per cent Levy in the United backs of Little in the last 40 corporate taxes in Canada have decreased by 28 per in the Federal auditor general reported that using corporations avoided paying billion in another billion was skirted through deferred corporate this government has shifted More than billion in taxes from big business on to the backs of the Little Nancy a spokesman for the Canadian labor Congress other alternatives Are based on political and economic most simply do not raise the Money Ottawa says it and Are fraught with some would prefer Ottawa Cut its own expenditures and tighten the existing tax system before introducing a new Brand of others would slowly phase in the get on the Back of the they would bring it in at five per cent and pay for the Revenue shortfall with the Federal As the Economy adjusted to a consumption they would in crease University of Manitoba economics professor Ruben Bellan would scrap the raising the needed Revenue strictly through income tax according to 1988 tax Only five per cent of the population is taxed in the top 29 per cent income tax each one per cent increase at this level raises about million slightly less than a third of the population 29 per cent Are taxed at 26 per each percent see increase Page Gull Harbour resort conference Centre Heck escape to Hecla Island for the easter break 3 Day special april 15 single or occupancy no or children under 18 sharing room with Parnu discover our new look which includes a renovated Pool area and upgraded indoor whirl games gymnasium and much for reservations Call 4752354 direct 24 Grey Loose services daily Alfiert natural notice of record Date the Board of directors of Alberta natural Gas company Ltd has fixed the close of business on March As the record Date for determining the shareholders of the corporation entitled to receive notice of the annual meeting of the shareholders of the corporation to be held in Al Berta on april Homer vice president March i u i id Sheraton Winnipeg the hospitality people of m Donald at York 9425300 45 items to choose from i parking investment keeps surging despite slower Economy Epson Apex equity computers by Epson rom Apex plus t Modos t one year warranty t Builtin clock Calendar t game port t serial parallel ports 1512 Kab ram expand Able to 640 k Mhz 360 Kab floppy monochrome Monitor introducing 1395 t is Dos diagnostics 80266 microprocessor 1640k ram 12mhz clock Speed t enhanced at style keyboard Mega Multi graphics array video parallel ports t one year warranty lt286 f is Dos go Basic and diagnostics 180286 microprocessor 1640k ram expandable to 112mhz clock spend High contrast paper White cd display Cha compatible Standard and external Rob ports 20mbhard disk drive 1144 my floppy disk drive three year warranty t is Dos go Basic diagnostics 1 60366 microprocessor t ims ram expandable to 16mb 20mhz clock speedy parallel ports 1 2mb floppy disk drive one year warranty Winnipeg 670 is Jennies Sicol 204 7836115 Brandon 1337 Princess Avenue Thunder Bay 1t86 memorial Avenue 807 6235959 a trademark at Microsoft corporation iou Ity is Dos go Basic and diagnostics 8066 microprocessor 640kram clock Speed serial mouse ports Standard 72qk disk diva enhanced at style keyboard video Mapier via monochrome Monitor one warranty 3ftww Setje car wait Epson proof cos sind Emily Are trademarks of Epson Amano inc Epson la a Rea Steid Uada Marli of Seiko Epson clip Ottawa investment in assets such As new equipment and houses is expected to increase per cent this statistics Canada said investment was one remaining source of strength for the Economy last year As the Economy slowed under the weight of High interest rates and a High Canadian this business and governments plan to invest 3 billion in new up from billion last based on a Survey of spending intentions conducted be tween november and Early Gebru statistics Canada All sectors share in the increase with the exception of fishing and finance which show a decline for the government Agency two utilities and Manu account for More than half the billion increase in expected Gas Utility bid made Toronto to retains giant company launched a bid yesterday to buy the Consumers Gas which has More than a million natural Gas customers in on Tario and and Consumers biggest share a company controlled by the Toronto Reichmann has Al ready agreed to hand Over its 82per cent the buyer is British Gas billed As the largest integrated natural Gas business in the Western which made the announcement the privatized by the British government in has about 17 million customers in the United kingdom and annual reve Nues of about Consumers Gas last year Joad revenues of about mostly from sales of natural Gas in Southern business watch Western Quebec and new York the Deal must be approved by investment Ottawa for Eig investment and by the Ontario Energy the re View is expected to last several newsprint Price up Vancouver the two news print manufacturers in British co Lumbia have joined Labiti Ciprice of Toronto in announcing june 1 Price the first since Jan uary Fletcher Challenge Canada said it will raise the list Price of Standard newsprint sold in the United states to us a tonne from an increase of per the company has told its Canad an newsprint customers that the Domestic Price will go up per cent to a tonne from also effective june soviet Mill eyed Toronto two Canadian companies Are negotiating to build a bleached pulp Mill in the soviet Noranda Forest sales of to Ronto and Hymack of said they have reached agreement with the ministry of Timber in the soviet Union to study the feasibility of a Mill in the City of Balakhnin the Gorky the Mill would be owned 50 per cent by the soviet government and 25 per cent each by Noranda and the feasibility study is scheduled to be finished by the end of the Potash profit Down Regina Potash Corpora Tion of Saskatchewan logged a profit of million on sales of million while Riding through a Stormy period in net income in 1989 fell 22 per cent from million in sales were Down nine per cent in 1989 from million the year despite the poor year the Corpora Tion also announced a quarterly dividend of 18 cents a paper firm bought Vancouver paper of America has bought Smith paper of Vancouver for an undisclosed in its first step into the Canad an with annual revenues of million has been distributing Industrial paper products for 25 it has four operations in Penticton and Prince paper is part of the Alco Standard group of companies and is based in Valley contract landed Montreal Canadian aircraft products of has won a contract to manufacture Tail wings for the Canad air regional the initial order is for million and delivery should begin late this a corp industries of Mon Parent company of Canadian aircraft said the Canad air Jet is a stretched version of the challenger 601 Busi Ness Jet and carries 50 Canad air group is part of bom Bardier of

Search all Winnipeg, Manitoba newspaper archives

All newspaper archives for March 8, 1990

Browse