Winnipeg Free Press

Winnipeg Free Press (Newspaper) - February 14, 1975, Winnipeg, Manitoba Winnipeg free press Friday february 14, 1975 income tax return Check list by John g. Mcfarlane once again it is time for All individuals to Render their annual accounting to the tax collector. In at tempting to achieve its economic and social objectives the government continues to tinker with the tax system. Whether the objectives Are achieved in debatable but one thing is certain the returns continue to grow in size and Complex Ity. This year the situation is further confused by the failure so far of the government to get its budget passed. Certain budget pro visions such As the Regis t e r e d Home ownership savings program must be acted on before March i but there is As yet no Way of making a contribution to such a plan. If the deadline for Mak ing contributions is extended As rumoured then in fairness the deadline for filing returns should also be extended otherwise tax preparation services will be unable to Complete their work on time. Other changes proposed in the budget have been incorporated in the tax returns even though they Are not yet Law. Main changes assuming the budget finally gets parliamentary approval the main personal tax changes from last year Are As follows Good news 1. Personal exemptions have been increased to re Fleet inflationary conditions. A portion of contributions to Federal political parties is deductible from tax payable not from in come but from 3. The Manitoba govern ment introduced a second tax credit plan based on exemptions and taxable in come. 4. Basic credit for 1974 Manitoba property tax credit increased to from an increase of 25 per cent. 5. First of interest income exempt from tax in most cases. Bad news 1. If you have dependent children the increased exemptions will be fully off set by the taxation for the first time of family allow Ance receipts. 2. Contributions to the 1974 Federal election Campaign Are not deductible because the change was not effective until the elec Tion was Over unless paid after 1st August 3. If you Are Rich a married Man with two Little children earning Over is Rich you Don t get any. If you Are poor and Don t have any taxable income you must file a tax return in order to qualify. 4. Your property tax Bill also increased by about 25 per cent in 1974. The following Check list is offered to assist taxpayers in assembling the info m a t i o n and documents which their accountant will require in order to prepare Bell earnings incr Rease Montreal up Bell Canada s earnings per share for 1974 were compared with for 1973, the com Pany reported Here. Total consolidated revenues for 1974, including operating revenues and sales by manufacturing companies amounted t o million against million in 1973, while operating expenses and Cost of sales and expenses were million compared with million the previous year. Consolidated net income amounted to s224.4 million. Net income in 1973 was Mil lion. In a report to shareholders Board chairman r. C. Scrivener said record Northern electric earnings resulting from increased Domestic and International sales of telecommunication products and in creased Revenue from local and Long distance Telephone operations were positive fac tors in the consolidated earn Ings the rate of expense in crease continues to outpace the rate of Revenue he said. Only by balancing reve nue and expense increases can we meet the Public demand for service. The addition of More telephones to the network in 1974 and the handling of 65 million More Long distance Telephone Calls Are indications of the increased service needs of the Public which must be their return As quickly and economically As possible 1. Your 1974 personalized tax return which you should receive in the mail. 2. Copies of your 1973 and 1972 tax returns. De tails of any changes made by the tax department in reported income and taxes payable will be required. This information is Neces sary to properly apply the general averaging formula. 3. The following information slips tfa1 family allowance payments. T3 estate and Trust in come. T4 salaries and wages. T4a commissions and Lump sum payments pen Sion benefits Etc. T4u unemployment insurance payments. T5 dividends and inter est. T 6 0 0 Bond coupons cashed at Banks. 4. Details of the following types of income it is your responsibility to report this Type of income whether you receive an information slip or not a scholarships Bur Saries Etc. B unemployment insurance benefits. C old age pension and supplements. D other pension Bene fits. E annuities. F royalties g Alimony or separation allowances h family allowance receipts. 5 a detailed list of Busi Ness income and expenses. B rental income and expenses together with Cost of property accumulated depreciation applicable thereto. 6. A list of All dividends received. B any information from the payor As to special types of dividend . Tax free dividends foreign dividends and withholding tax if any Stock dividends. C details of All interest income source and amount from each. 7. Transactions during 1974 in capital assets show ing purchases sales and costs involved notes 1. Capital assets include stocks Bonds land build Ings equipment and per Sonal property having values in excess of 2. The Date of Purchase and Cost of any capital assets acquired before 1974 which were sold during 1974 will be required. 3. Brokers notes should be supplied for Purchase and Sale of stocks and Bonds. 4. Receipts or other Evi Dence should be supplied for expenses of earning in vestment income such As investment counsel fees safety Deposit Box rent in Terest paid on Loans Etc. 8. Receipts for contributions to registered retire ment savings plans in come averaging annuity contracts and registered Home ownership savings plans. 9. Receipts for the Fol lowing a charitable donations. B moving expenses. C child care expenses. D foreign taxes paid. E Union or professional dues. F tuition fees. G medical expenses including premiums for Pri v a t e health care plans Only required if total is Likely to exceed three per cent of All h contributions to Feder Al political parties if made after 1st August 1974. Note the list of deductible medical expenses has been broaden to include devices to assist breathing heart monitoring apparatus orthopaedic shoes and various in Home devices and facilities. 10. Income of spouse give details. 11. Income of children and other dependants. 12. Record of gifts made if in excess of 13. Amounts paid for Canada pension plan and income tax instalments for self employed persons. 14. Rent and or property taxes paid on your Prin c i p a 1 residence Supply 1974 tax 15. Alimony or separation payments made. You Are reminded that the deadline for making contributions to registered retirement savings plans income averaging annuities and registered Home ownership savings plans All of which have been Dis cussed in previous articles is March 1st. Or. Mcfarlane is a member of the firm of Burch Findlay Mcfarlane and co., charted accountants. Trans air buys tour company trans air limited has announced the acquisition of f i 1 m o n t Tours International limited a wholesale tour company specializing in inclusive tour charter vacations to Florida and the Caribbean. Arthur v. Mauro pres ident of trans air stated that the acquisition was made to consolidate Tran s a i r s position in the charter air transportation Field and to strengthen Fil Mont s position in the travel Industry. Filmont was established in 1971 and has expanded rapidly Over three years to become one of the largest wholesalers o f inclusive tour charter holidays from Toronto and Windsor to the Bahamas and Florida. Chief operating officer of Filmont is Anthony j. Wil Shere recently appointed vice president and general manager. M r. Wilshere moves to Filmont from ship s school of Canada where he held the position of general manager and president of the Toronto based travel wholesaler since 1972. Carl Dickenson has been appointed controller of Fil Mont. Or. Dickenson also joins Filmont from ship s school where he served in the same capacity since 1972. Or. Mauro said that Fil Mont would continue to operate and Market holi Day vacations independently. He said the acquisition by trans air of the tour company was made to pro vide the airline with an established charter Market for its Fleet of Boeing 707 and 737 aircraft while pro Viding Filmont with the financial stability necessary to undertake expansion in the International inclusive tour and advanced booking charter Field. Or. Mauro said that the acquisition of Filmont by trans air followed the Pat Tern established by other Canadian airlines participating in the charter mar Ket. Lumber chief blames housing starts fall by Victor Dabby Montreal up the drastic fall in housing stari last year is largely to blam for the poor shape of the lumber Industry the outgoing president of the Canadia lumbermen s association said Here. Housing starts have Falle from a january 1974, Annua rate of about per Yea to a november 1974, Annua rate of about starts Jacques Bock told a news con Ference. The effect of lower housing starts which or. Bock de scribed As the life blood c our combined with lower prices has made 1974 on of the worst years in recen memory. Or. Bock president of Bock and Tetreau Ltd., was speak ing at the first Day of the s 67th annual meeting at tended by about Dele Gates representing about 30c lumber producers in Eastern Canada. One of the major problems is the cyclical swings that Thi Industry goes he said. From a heavy demand situation in 1973, the 1974 Situa Tion deteriorated very rapid As an example he cited the Price of Eastern Spruce studs which delivered in Montrea Exxon quits Gas group Toronto up Exxon corp. Of new York has announced its withdrawal from Canadian Arctic Gas pipeline Ltd which has applied to build a natural Gas pipeline up the Mackenzie River Valley. Exxon officials said the company was withdrawing from the group it joined in 1970, having accomplished its original objective of developing a viable pipeline Twenty two members remain in the Toronto based group formed to develop the propos Al. Exxon also announced it has made agreements with two United states companies that might Lead to the Sale of half of its natural Gas reserves on the North slope of Alaska. W. P. Wilder chairman of Canadian Arctic Gas said the proposed sales indicate the belief of . Gas producers and pipeline companies that the Arctic Gas system also offers the United states More benefits than any other system for the transportation of these alaskan Exxon agreements Are with Michigan Wisconsin pipe line co. Of Detroit and Northern natural Gas co. Of Omaha neb. The companies serve states which provide the main areas of support in the . For a pipeline to carry alaskan Gas through Canada. And Toronto stood at per to Chiusand Board feet in july 1974. By mid october the Price dropped to about and currently stands at about Jean Perron oncoming president and vice president of nor Mick Perrym inc., said part of the problem is due to the fact that the Industry is fragmented and cannot stand up to Modem Market conditions. Because the Industry is fragmented geographically we can t Stop prices from going Down since there Are always those who will Cut their prices to undersell the or. Perron predicted the Industry would see a larger number of mergers and partnerships in the coming years and that there will be fewer in dependent producers. Both men said unemployment insurance was affecting the Industry s manpower Situa Tion. During so called Normal production time the Forest products Industry is plagued with manpower or. Bock said. The Industry s position is that it cannot compete for Abor with a welfare program hat paid out Over billion in unemployment insurance Bene fits in 1973. Nor can we live and Progress under constant strike threats that seem to reoccur whenever Market conditions Mineral production estimated Fredericton c p preliminary estimates s h o i the value of Mineral product lion in new Brunswick million during 1974. Roland Boudreau provincial natural resources minister said Here that although there were increases in the value of Industrial minerals fuels and structural material produced metals continued to dominate with a value o ?1sg.3 million. Large expend lures were noted in the scare for base metals particularly in the Bathurst Newcastle area and in Southern new Bruns Wick several companies initiated major exploration pro Grams for Petroleum Gas and Oil shale. Brunswick mining and smelt ing corp. Continues As the larg est base Metal producer in the province with mining and treatment of about tons o. Ore daily. M r. Boudreau said there Ivere More than mining claims and licences in effect Al rear end an increase of about .0 per cent Over 1973. The minister said expansion is under Way at two major base Metal mines and there is an excellent possibility of four new production mines in the Bathurst Newcastle area. Large expenditures Are being made in areas with Coal uranium Petroleum Gas and Oil shale potential and the Dis covery of new Energy re sources should be of great Benefit to the people of new m r. Boudreau said. Air Canada passenger volume up Montreal up air Canada announced Here it car ried passengers on its Domestic and International routes during december 1974, an increase of five per cent Over the corresponding period in 1973. During december 1974, the Load Factor or percentage of available seats filled on the airline s scheduled flights was 56 per cent a decrease from 64 per cent in the similar period in 1973. Consulting opportunities due to the expansion of our management consulting practice we Are searching for consultants to provide a wide Range of services to a Broad Cross Section of business Industry and government. Systems and data processing consultant applicants should have a varied background in systems and be capable of undertaking client assignments involving feasibility studies computer department performance audits and the design and implementation of accounting and management in formation systems. Applicants must have proven experience in the application of computers to management problems. The successful candidate will have a Post graduate degree in computer science business administration or the equivalent. General controls consultant applicants should be . S or . S with varied experience in All phases of management including the successful undertaking of Complex assignments involving financial organizational or marketing analysis. Applicants should have several years experience at the intermediate to senior level in either the private or Public sector previous business consulting experience would be an advantage. The work is demanding and requires sound business judge ment a High degree of initiative the ability to acquire knowledge quickly Good presentation skills and the personal qualities to Deal effectively at senior Levels. Compensation and other benefits will be fully commensurate with the qualifications and experience of the successful candidates. Reply in Confidence to j. E. Peterson suite 804, 220 Portage Avenue Winnipeg Manitoba r3c oa9. Ii Thorne management consultants in Luidl member Canadian of manat Manl t onut Tanto associates Ltd. 12w-220 Portage ave. Winnipeg Manitoba r3c oa9 Inco still willing to talk Toronto up l. Edward Grubb chairman of International Nickel co. Of Canada Ltd. Has expressed Here willingness to continue discussions on the development of Nickel deposits in new Cale Onia despite a French Deci Ion to partition the Ore body. Inco issued a statement Here u o t i n g or. Grubb As aying he had been advised of in French government s Deci Ion to Divide the Goro Deposit nto Eastern and Western zones. French communique indicate d that the Eastern part will be ranted to a consortium and e Western part to Inco. Or. Gubb conferred Friday in Paris with French Industry minister Michel d Ornano and Olivier Stirn Secretary of state for overseas territories. In the statement issued Here or. Grubb confirmed he had advised the ministers of Inco s continuing interest in the development of new caledonian or. Grubb also said that while he indicated Inco s willingness to consider the possibilities and pursue discussions within the framework of the government decisions the company could make no fur ther commitment or comment at this i Pinkerton Security of Canada Ltd. Require Security guards 15 guards for downtown Winnipeg for full time employee emf. Top wage at per hour. For the above mentioned Job applicant must have no criminal record be bendable perfect health and have Driver s License. Experience preferred but not essential. Contact Captain Rohr 938 St. James St. Between . . Or phone 775-7949 Bee clean company of Canada Ltd. Several openings for supervisory personnel in the janitorial service Field. Suitable individuals will be required to perform such a function As training and supervision of personnel maintaining Job standards and Public relations. Must be Able to work flexible hours and be willing to relocate. Experience preferred but not essential As we will train. Salary plus profit sharing plan with car and operating expenses. For interview Call a. Bryant or Al Bow i 667-9544 controller required for Chain of retail stores. Must be Able to supervise a Small office staff and be familiar with All phases of retail store accounting including preparation of monthly financial statements. Salary commensurate with experience. Apply to Box 586 free press Manitoba health organizations drafting personnel required by inter City manufacturing 670 King Edward position Junior quals one year experience or training at a tech Nical school. Salary negotiable. 786-6552 att. Norm d. Mccreight Manitoba Thunder Bay food broker required to sell wholesale grocery Trade Only. Representing nationally advertised non food lines. Box 585 free press hotel food controller required remuneration according to experience. Please Send resume to Box 590, free press head chef salary Range per annul a head chef is required for a 128 room hotel in Regina. Saskatchewan. Applicants must be willing to relocate a. Regina. Please submit written application on or before february 21. 1975 directly to landmark motor inns of Canada Ltd. 200 177 Lombard Avenue Winnipeg Manitoba r3b ow5 Arborg memorial Hospital director of nursing this challenging position Calls for a nurse with nursing unit administration and departmental management or equivalent. Salary is negotiable and a full Range of Fri Nee benefits Are offered. Registered nurses positions available for general duty nurses registered with . Salaries commensurate with experience As per provincial schedule. Full ranges of fringe benefits. Gillam Hospital Laboratory technologist Iii registered technologist required for this 15 bed Hospi Tal. Salary negotiable but not less than subsidized accommodation available. Glenboro District Hospital licensed practical nurses positions available in All nursing areas full or part time. Generous fringe benefits. Lynn Lake Hospital registered nurses licensed practical nurses required for most nursing units. Salary commensurate with experience. Assistance Given with relocation and with finding employment for spouse. For further details and application forms for any of the above positions please phone or write employment Sar Vlam Manitoba health organization inc., 377 Colony Street Winnipeg Manitoba phone 942-6591. Sales manager our company is a farm equipment manufacturer with sales throughout the North american continent. We require an aggressive and mature individual to direct the company sales and marketing activities of the company. Please apply in Confidence by forwarding a Complete resume to r. 3. Mill Nowski a aral Managar Leon s manufacturing co. Ltd. Drawer 1090, Yorkton Saik. S3n 2x3 shift supervisors a Large Eastern Canadian Kraft Mill has several vacancies for shift supervisors with bleached or unbleached pulp Mil experience. The successful candidates should be technically competent and experienced supervisors. They must be Able to function Well with a minimum of supervision. Opportunities for advancement Are excellent. All replies will be acknowledged. Salary is commensurate with experience. A generous fringe Benefit package is available. Interested candidates should provide a detailed resume which will be treated in Confidence to Box no. 517 free press ;