Winnipeg Free Press

Winnipeg Free Press (Newspaper) - June 6, 1931, Winnipeg, Manitoba And very High tax payers Benefit under new schedule corporations exemptions abolished now under general corporations get civil or Sparli to hip free by Dexter Jure 5 the new in me tax by right son Bonne i in his budget to addition to revising com steely Tow schedule of tax pay contains three provisions of interest to business men with sub men these income to and n the old act which enabled owners if corporations to escape taxation both it in now be have been securely 15 g general the schedule of the new tax scale Down the payments of the Low income tax were upon to pay larger tie full effect of the new has been worked act Manitoba free Jilb out and made on the other Thorp oration was they draw from the Corpora ukr Corpora so that there in one Case of taxation other but one it in a personal if and Smith were the under the on toe ther tax ind then pay another tax on the disbursed to them in As the latter personal income and the rotation but if Brown and Sam were the owners of the Ion they could under to pay the income income they derived and the Corpora ton no each being Tom Corpora Large i tie Surj who earn the compare lire poor and the multimillionaire both Benefit by Ben the persons with incomes Are called a refs new act moderately remember the Winnipeg foundation it it Community Trust fund for charitable tax on the from the Cor income of the was distinction under new act the family Corpora classes of corporation Are the corporation income will be no there thu affected the question of double taxation in the old the of an Ordin Ary Corpora ton were taxed and profits were again taxed As they appeared in the personal income tax statements of the owners of the Bennett met this by providing that dividends up to shall be exempt from the new personal income tax to the sex of on half the income of the this language is a Little but what is meant is that up to of dividend in come the taxpayer May Cut his pay ment under each of taxable aunt Het by Robert Quillen Lou May has look in a female an All Ive got to say is that she dont love her husband or she aint got a lick o come by he cannot Ake the exemption in a Lump to illustrate the presume hat Brown received an income in dividend of he would make out his personal income tax an his Way first text next text text text next ext ext ext ext ext ext ext ext ext ext ext ext next final total june Only two hour specials 9 to 11 Only canned tomatoes 4 tins 250 Choice 4 tins soda 14c 23c 3 Ripe 250 Best ripened fresh first 17c guaranteed Monogram pineapple bits tin 11 e 5c maximum Coffee Ontario cheese slab fruit 49c fresh 4 pure Castile bar 13c chocolate 19c butter or s Highway Choice Creamery apricots or Basket 59c first 5 in Basket head laxge2 for 19c fresh ibs 19c size2 for 9c strawberries Basket 17c pint Quality Bing cherries and Green 25c 2 9c Bunch beets 2 Bunches i5c Bunce carrots 2 Bunches 13c 3 25e i i Tor two hour special 9 to 11 Only rolled rib of beef or veal shoulder roast veal roast Loc sliced Side cello Only bound shoulder roast Ioc in roast beef Kib roast 16c pork Butts Boston style cooked Corn beef cooked i8e 35c cottage i9c Small picnic in pork i Safeway stores limited bum exempt 500 600 500 500 600 500 500 500 500 500 300 500 500 500 500 500 500 500 500 50 Browns income being and the rate on sums be tween nine and ten thousand being ten per his personal income tax Levy disregarding any other exemptions such As those for Small would be another feature of the new in come tax act is the abolition of the personal these have been done away with because Eva Sions in this regard Are now in the clause covering such corporations was placed in the act in 1925 to Deal with wealthy of the income and super who formed themselves into personal corporations for the Pur pose of evading personal income tax the 1925 clause declared that All profits of personal corporations should be considered As dividends to the owners who were thereupon taxable on personal in comes to that whether or not the Money was Ever it is now believed that with the removal of the very High rates on super incomes the incentive to the formation of such corporations will be under the new act such corporations will be taxable under the corporations tax of ten per believe gaps stopped income tax officials believe that two wide open gaps in the old act Haw been securely these two new provisions have attracted the widest interest in Eastern among income tax there were two ways in which the income tax both on corporations and on personal income could there Wes one Essen to the achievement of both evasions and it was this that a Corpora ton must be owned by a fairly Small number of persons who were Able to act in the first method was this a Corpora ton owned by a Small group of men had made very Large which the owners desired should escape income they looked about for some Way to invest this Money when they found a suitable they organized a new the Stock of this new company was sold to the Al ready successful corporation and in this Way the Large profits were passed out into new investment without paying any this sys tem was figured out by Clever lawyers and has served to enable wealthy men to reinvest their pro Fite for Many years without paying the second method was this a corporation had made a Largo amount of Money and the owners desired to get this Money into their pockets without having to pay in come they did so in this Way the corporation was wound a and All assets were paid out to the such payments were exempt from income the shareholders promptly got charter and took Over the business Andion it As officials stated Here tonight that in the number of corporations to wound up and restarted under Charters a few Days later were greater by More than Twenty times than in any other december of record under the income tax the new act stops both times by imposing a new tax of four per such distributions of by any by buying Stock of a subsidiary or by redemption of Are the most important changes in the new income tax Al of Alan special decoration Parade to be held to old Kil Donan cemetery honouring the memory of the heroic life of Alan of a special decoration Par ado will be held sunday under the auspices of the West Kun Donan Canadian the 79th Cameron highlanders and a detachment of officers and men in full dress win As also Many Osier Mallut the Canadian legion color representatives from various Veteran and s detachment from the town of Rev who was pastor of in Stonewall which was attended by Alan prior to Hven terns the will officiate at at the old Kildonan Street and will Boyal fell in at main it 245 Manitoba hero and Canadas youngest recently honoured in the Home of his Alan was the son of Alex of and was decorated with the Victoria Cross by he was 18 Yean of age and had been in prance less than one year when he received tills coveted describing the great the official Story told of my flying in a bombing gunning a hostile was at tacked at a height of feet by eight enemy by skilful mane vering face enabled aia observer to shoot Down three of these out of Mcleod was by this time wounded five a outlet penetrated the petrol tank and to his he then the left Bottom plane the machine from the set fire climbed to controlling Side of the fuselage and by Sideslip Ping steeply kept the flames to one enabling the observer to con Niue firing until the ground was the observer had been rounded six and when the machine crashed in no mans machine gun although again wounded by Mcleod managed to place Lieut Hammond la comparative Fety before heft la wms Elf from exhaustion and loss of dragged despite his his Comrade away rom the burning wreckage at great personal risk from heavy enemy Barley to enter Germany at reduced duty rate Logan Bryan june information regarding the wheat Supply in Germany As of Indi Cates monthly consumptive require ments 01 and a monthly import necessity during glance of the crop year of these take into consideration the official requirement hat Germany shall have on hand As a minimum wheat two months supplies of Bush the food Minuter has indicated that the import duty on wheat and Rye will remain Cable received says Barley be reduced two to about 10 cents per bandits Kidnap wife Bank president and steal by Meek trite rnai by rent i june gentle Menly bandits kidnapped my a Falls Wui iof county National Banks her for Tiro hours and mrs was released from the bandits Suto Mobile at East nearly 50 Miles her Huo perspiring feet a vat awful fort i tic foot nol Apricot layer cake new different 25c at All Good grocers Price sold St All Drar the u l i t e c3 a s h d o w n shopping news for saturday and monday during july and August Stoke closes 1 saturday no mail orders for specials combination Ash tray special a practical smokers Complete in one piece with spacious Asti cigarette match Holder and compartment to hold Twenty made of durable of Green and Vari color main phone 846 regular watering special a practical Garden sprinkler made of heavy corrugated galvanized with removable sprinkler Fly quart i us housewares 4th 846 238 sanitary special for country summer or wherever running water and sewers Are not Avail heavy galvanized outer painted Green with removable inner polished mahogany seat with hinged closet disinfectant works perfectly in All makes of chemical c1 per gallon9 i Jiuu i main phone 846 254 for hot weather cooking a Handy two Burner elec tric has two por Celain elements and two separately controlled Long and finished in either Black or screen 9k special electrical 2nd fishing special visit our tackle for the tight kind of for this we Etc prices which mean substantial Santa Otto baits kidney spoon spoon bait Willow fluted Black Bass and Mono Gram special Devon 2inch and 2 h wig wag plug slim by single Spe Rainbow Pearl Wobbler baits and Luminous tandem pork Rind rubber wig wag Spe wig wag Vamp june Bug Oreno Bass assorted col preserved Silver Spe a 300ffc weekend special a dependably Nickel plated Complete we the batteries and throws f wide or focused beam 300 just the flashlight for Camp or cot j electrical 2nd phone 348 d 0 your painting now Minyou Novra supplies government Standard White special Zinc special gallon linseed Galton roof gallon pint 840 seven piece water special 89c the Pitcher and tumblers Are in Green optic set consists of Pitcher and six no phone or orders outboard motorists a johnson1 Light twin for is heres a real value for outboard motoring in fishermen the All prefer the uncrowded Waterways to the crowded the new Johnson Light twin at of fers an array of expensive features pro absorber Tive pump Cooling cavitation Many see this new Model now on display sports 2nd phone 846 reels Strong with Click and drag 60 Spe level winding Quad Ruple with Click so double multiplying polished bakelite leather thumb capacity 250 lines Black silk japanese silk casting 12 Cutty hunk 1bo 24 Tackla 2nd rods steel telescopic casting Agate guides and Cork adjustable and clincher All to ringed mounted on double 6 for 6inch wire assorted Cork fishing outfits 5foot steel jointed with Good reel and Good Quality with shot sinker and ringed Hook mounted on wooden phone 846 257 lamp Brunswick raw and Burnt la raw and Burnt la English red numerous other dry colors at special pure ground in linseed to ground in to paint main Phona 25182 adjustable Hose special 39c Well constructed nozzles that will Send a heavy Stream of water to the farthest adjustable from a Fine Spray to a heavy Stream Standard t Garden 4th phone 258 sturdy ironing special smooth Wood set and folds into Small space when not in Board that will give you years of housewares 4th phone 846 Al steel folding special is folds Ideal for touring or picnicking or extra seat for will carry a person camping 2nd phone 846 coloured Bath special 75c Complete with 5 feet Oghig Grade tubing in Blue or and Large Nickel plated no phone or easy work to keep the Lawn trim when you have a Good Lawn Mower a free running does lighten the Burden of keep ing the Lawn we show All the favored makes in several styles and see them Here try you will appreciate that every one is a real at weekend another Supply of these Fine 14inch a new Low Price built for Kean cutting big nine Inch wonderful value at this of i Sheffield steel grass or hedge a steel 8inch British grass catchers Are special made of Strong White Canvas with heavy galvanized 12 to 16inch door screening and accessories Quality screening fins Quality Black screen wire with Lineal a Ltd 18 inches 20 inches 22 inches old aisle 24 inches Lineal 3s inches wide296 Yard 26 inches 28 inches 30 inches 33 inches 34 inches cast Spring hinges with screws pair 38 inches 40 inches 42 inches 44 inches 46 inches 48 inches Loose pin steel hinges with screws pair 20c 25c steel Spring hinge with pair 25c Snappy catches with but tons and Pep dozen but tons screws per 12c 15c 20c each anti sags for screen if go each i 9c screen door Springs each extra heavy Springs eve ready closers door screen door Hooks and eyes per Crampon Luggage for 4th floor this store for Quality Garden tools Phona 846 Londo made special 79c a Choice selection of London made pipes in a wide Range of popular have Alum Winum tubes and Many have wide Fishtail stems sanitary wrapped and individually main phone 846 special savings on garbage cans made of Good weight corrugated Gal Vanir Edison with tight fitting cover and Well riveted strap galvanized special 29c Good Quality hot dip galvanized pails Imperial Well attached Bale housewares 4th phone 846 Golf specials two stay Golf special diameter with leather trim heavy pressed leather Bottom and Large Roomy in colors of Sand or mesh Golf special 3 for Good Lively mesh marked new Stock just sports 2nd Golf special 98c Ideal for As a smart and set cast Ikon priced cast Iron special 75c double lipped swes permit emptying when held in either 10inch dutch special smooth finish cast Complete with self toasting cover size 4 indies Chicken special Kne for Fried preserves flavor and juices 10inch 3inohes double lipped self Basting housewares phone 846 238 special a Well finished Black enamel car can be attached or removed in few min 44 inches will fit any Auto main 848 Boker safety razor special 5 for 19c i High Grade for Gillette shaving Comfort main 846 handled special 98c wonderful value at weight axes suitable for the Camp or cot values up to aft it tool Mam 846 screen and House special 50c p a Good Quality paint suitable for screens and All can be had in battleship Grey and main 848 2s1 beat the heat special fan offer a particularly Well made Gmoch fan that will bring you air currents of Polar Complete with Reg ular special electrical 2nd 849 Good Quality Corn special 35ci serviceable string brooms firmly with Long smooth housewares 4th phone ;