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weekender february 2119w p3l beat o- backgrounder to tax collections while the latest budget in it self may not have much impact on the economy past budgets in general have made some signifi cant changes to our economy and have evolved as years go by this backgrounder to budgets highlights some trends which have arisen in recent years the last major tax reform was in 1971 since then piecemeal changes to the tax system to en courage certain activities to close loopholes and to eliminate perceived inequities have re sulted in complicated and frus trating tax laws the recent international trend notably among canadas key trading partners has been to lower tax rates and broaden the tax base by reducing deductions exemptions and credits as a re sult investment decisions tend to be based more on market forces than on artificial signals given out by government tax legislation it is probable that corporate rates in canada will be roughly equivalent to the rates of our key trading partners particularly the united states if they werent american parent companies would be greatly tempted to shift income to the us where it would be taxed at the lower rate for every dollar of revenue the government receives it spends 144 of that 144 33 cents services the debt the gov ernment has three dollars of debt for every one dollar of revenue it expects to receive this year while tax reform is expected to be revenue neutral the government obviously faces some difficult fis cal realities another objective of tax re form was to shift some of the tax burden away from personal in come over the past 20 years prsonal income tax as a percen tage of total government revenue has increased substantially while the percentage contributed by corporate tax and sales and ex cise taxes has declined personal taxes now contribute more than 40 cents to every dollar of government revenue com pared to 30 cents 20 years ago in the same period total annual gov ernment revenue has tripled to lower personal and corpo rate rates without lowering re venue the government is obliged to broaden the base from which taxes are collected because the personal income tax net is already widely cast there are few options for broaden ing the personal tax base howev er there are several options for broadening the corporate tax base including the elimination of accelerated depreciation provi sions and incentives for th manu facturing and resource indus tries thus while corporate tax rates might go down the total corporate tax burden would go up the lowering of tax rates can also be financed in part by the im plementation of a business trans fer tax btt this is a broadly based consumption tax imposed on the value added to all goods and services at every stage of pro duction and distribution a btt can also finance the elimination of the antiquated federal sales tax system this system applies only on a narrow range of goods dis criminates against exports and favors imported goods over domestic production markham transit study public information centres we need your help in evaluating route and servide options for markham transit the town of markham is currently undertaking a study of transit services in the town and before any decisions are made we would like your input drop in to one of the public information centres listed below to see what is proposed for the fall of 1 987 have a coffee and donut and tell us what you think for further information please call markham transit at 4777000 location thomhill thomhill community centre 7755 bayview ave milliken st benedict school 50 aldergrove or markham markham community centre 15 wellington st e unionville unionville high school 201 town centre blvd date monday march 2 tuesday march 3 wednesday march 4 thursday march 5 time 300 pm to 900 pm 330 pm to 900 pm 300 pm to 900 pm 400 pm to 900 pm transit going up the first phase of walden pond condomi niums is growing up the condomiums which are being built in two phases at hwy 7 and bullock dr are the first of their kind highrise in the markham area bill lanning 1 old and look at die lilies industrial growth fund s209364 2000 growth no other rrsp investment can match the industrial growth fund ihc lines say it all the industrial growth fund has been the top- performing rrsp opportunity over the past 19 years with 2000 growth including re- invested dividends get it working for you at wood gundy now send the coupon today or call 416 2949151 avoid long distance charges by calling toll free 18003875237 aj imagine how good this line will 1 look by the time you retire m d 0 more information on the i 0 industrial growth fund mn- i m bjotch tkwnr h i mill to wood gundy inc royal bank bulldtaff m 200 count 8tm m 9z i bjotch tkwnr i mill to wood gundy inc royal rank buudtaff zoqsctamnstm i markham ontario up wo ortar by proapectua only it you cunantly ham a wood ouody account ptaaaa p tndtcaia uu name of your account axecutiv 61 n m 1 71 12 7i 7 7 7ft 77 7w 7 ho hi m 81 m r i a winning attitude m t open 9 am 9 pm weekends included til march 287 ft t mvvvtvvvvwvi jjjft