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WHITBY FREE PRESS, WEDNESDAY, NOVEMBER 23,1 977, PAGE 5 M. Report fro Queen's'Park By George Ashe, M.P.P. Durham West This week I'd like to tell you a bit about a new bill rec- ently introduced in the Legislature by my colleague the Honourable Margaret Scrivener, Minister of Revenue. The bill in question is The Corporations Tax Amend- ment Act. This legislation, which has been on the drawing board for the last eight months, represents a major step forward in terms of tax simplifications. Mrs. Scrivener explained that. "in the corporate tax field it is Oritario's policy to parallel the Income Tax of Canada wherever possible". To do this, however, it has been neces- to submit over 1,000 corporations tax amendments over mi the last four years to the LegislatUTe simply to keep both the federal and provincial statutes in step. As Mrs. Scrivener stated,"time lags and unnecessary complexity have oc- Ciùirred; all of which add to a state of uncertainty and con- fusion for Ontario's corporate taxpayers." Thus the proposed legislation will automatically tie the Ontario Corporation Tax Act to the Income Tax Act of Canada unless the Ontario Government chooses to differ. All intended differences between provincial and federal law will be highlighted. The main areas of difference involve treatment of re- source properties and income, management fee disallow- ances, election contributions and deductions for foreign television and radio advertising. In addition to simplifying The Corporations Tax Act, the proposed bill will provide tax incentives for investors in Venture Investment Corporations. Companies will be able to deduct, for Ontario purposes, 2½ times their invest- mert in equity shares of a registered V.I.C. from their taxable income. Also, upon sale or disposal of V.I.C. shares, 2½ times the proceeds, but only up to the amount of the original deduction - will be considered income for Whitby Lions Club celebrates 18 years of service Members of the Whitby Lions Club and invited guests celebrated the 18th anniver- sary of the chartering of the club with a dinner and dance at the Centennial Building Saturday. Mayor Jim Gartshore, in his address, said there is rra, question of the validity of the Whitby Lions Club, for it has 48 members, 50 per cent more than when the club was chartered. "We appreciate the tre- mendous support of the town which you give," said the mayor. "What makes a com- munity live is the work done by the people of that com- munity like your club." Whitby Lions President Bob Hall said there are 31,000 Lions Clubs in the work, with the theme this year of "People Caring for People". Durham West MPP George Ashe brought greeting from the Province of Ontario, and toasts were offered by District Governor Ellerby Farr and Deputy District Governor Gordon Forgie. -Entertainment was pro- vided by Sister Giselle Pilon and her choir, Les Tournesols. from Corpus Christi School in Oshawa. Commercial prospects good in Whitby Commercial development prospects in Whitby are good according to Regional Deve- lopment Officer Richard Spence. One of the centres of recent commercial develop- ment is Dundas Street, east and west of Anderson Street. In October, a branch of the Royal Bank opened on the notth east corner of Dundas and Anderson Streets, and to the east of the bank there will soon be a Swiss Chalet Restaurent which will employ about 60 people, says Mr. Spence is unable to name the client because of the confidentiality of negotia- tions, but says it is the na- tional head office of a multi- national corporation, with a potential of 1,000 jobs. How- ever, he stresses that there are no guarantees that the company will come to Whitby. There is a steady increase in inquiries for office and retail developments as the market appears to be recover- ing, says Mr. Spence. Mr..Spence. This summer a HondaEmployme Civic dealership opened on the north side of Dundas Street, -west of Anderson Activity in the Canada Street, and across the road Employment Centres in work is nearing completion Oshawa, Whitby, Ajax and on a Windmill Donut Shop. Pickering declined from a Further development is total of 601 placements in planned in this area, says September to 462 for the Mr. Spence. The regional development month of October. The department is receiving a majority of placements were number of enquiries about in Community, Business and commercial development op- Personal Services, Construc- portunities. tion and Manufacturing. According to Mrs. Spence A total of 8,532 people one client will be coming to witlout emphoyment were the region and is showing a A registered and seeking work lot of interest in a W tbye Cs ý'+_ wmoth ofh Octer. The ,30 In downtown Whitby, the Safeway Plaza is nearly fully occupied, with the Safeway store itself to open by the end of November. The Kent Building at Brock and Kent Streets was opened in October and two similar office build- ings are being planned by the same developers who con- structed the Kent Building. Two small shopping centres are under construc- tion at Athol and Colborne Streets and Green and Dun- lop Streets. A ROARING GOOD TIME WITH THE LIONS Durham West Mpp George Ashe, District Governor Ellerby Farr, Whitby Lions Club President Bob Hall, Mayor Jim Gartshore and Deputy District Governor Gordon Forgie attended the 18th annual charter night anniversary of the Whitby Lions Club Saturday. Nearly 150 people attended the dinner'and dance held in honor of 18 years of service by the Lions Club of Whitby. Free Pr ess Photo nt placeménts drop as winter approaches male and 5,225 female. The majority of female clients are registered in Clerical and Related Occupations, and Sales and Service Trades. Regstrations of male clients were highest in Material Handling and Related Occupa- tions, and Construction. There were shortages of qualified clients in specialized fields as well as skilled trades such as plumbers, electricians, motor vehicle mechanics, etc. During the month, 24 contracts were signed to train employees under the Canada Manpower Industrial Training Program. Contracts signed since the start of this Fiscal Year (1 April) total 233, with 335 workers being trained under the program. At month-end 69 clients were taking academic up- grading at Durham College and 147 were on various skill courses. Canada Employment 90% All Slacks (-ecl-dang 2O Jeans MAKE HERS A GIFT CERTIFICA will be evaluated and deter- mination will be made as to a perminent facility being set up.- Full service is available through the Ajax Office. Centre service set up 8 August for Pickering area in Sheridan Mal was closed the 28th of October, terminating the three-month trial period. The use made of the kiosk Joe Ottenbrite's Men's Wear, which has been located on Dundas Street west of the Bank of Montreal, for f7 years, is moving this month to the former Stripe Discounf Store location on Brock Street South. Mr. Ottenbrite says his former location will be occu- pied by a children's wear and dry linen goods store. Ve-ets Army Pants IhtiII Dec. 2, 1 977 AIso Selected Group of Dresses Up To 50% OFF CHARGE%~ Ottenbrite moves store SHOP EARLY FOR XMAS that year. Income above that will be taxed as papital gains. Capital losses will not be allowed as the deferred taxes on the loss portion of the invêstment won't be recovered. In outlining her views on tax administration, Mrs. Scrivener also stressed the importance of service to the taxpayer. To this end the Ministry of Revenue has adopted a new format for its tax information bulletins which is easier to read. Every effort has been made to eliminate jargon without losing the substance of the message. As well, the Corporations Tax Branch has recently introduced an Advance Ruling Service for corporate tax- payers. Since last April corporations have been able to come to the Ministry and receive an advance ruling on a specific transaction which is binding to both the Ministry and the corporation. I think the Ministry's efforts to simplify our tax laws and provide greater public accessibiltiy illustrates the pdnt that tax administration must not only be fair, equitable and even-handed--it must also be seen to be so. 00 ý à Fasb tous 126 Sizes 5-15 6-16 126 BROCK ST. S., VVHITBY 668-1266 Operi Iverydoy 9-6 fridays 9-Y