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ets, Because the tax reductions are restricted to $600 a year--- $300 this year -- high-income learners will enjoy a relatively smaller cut, Other benefits for individual taxpayers in the budget include new provisions allowing them to claim deductions for supporting nieces and nephews, aunts and uncles, and for deducting union and professional dues without affecting the standard $100 de- duction. But the reduction in tax rates will have by far the greatest impact. The cut will cost the treasury $170,000,000 in 1965. and $265,- 000,000 in a full year -- and these are the amounts the tax- payers will save under the new rates. Revenue Expenditures Deficit jproposal to disallow advertising| costs as tax-free business ex-| penses in certain cases, and eh s in the cust Act to! benefit British exporters. The income-tax cut will be welcomed by the United States in the same way Canada was glad to see a similar U.S, re- duction last year, officials sug- igested, It means simply that ----e provinces and income services, OTTAWA (CP)--The govern- ment moved Monday night to re-introduce @ program to aid Canadian periodicals and ex- tend it, as a "preventive" measure, to cover daily news- papers as well Finance Minister Gordon's "There has increasing been over evidence the 5 of 47,6 Other changes in the Income ax Act will mean that: Taxpayers who support nieces FREE BOWLING AT OSHAWA BOWLING LANES Esso) WINDER'S ESSO SERVICE ATLAS TIRES - BATTERIES Specialized Lubricetion And Undercoating E ©. Ost 725-8507 Canada U.S. Britain) liably, be yes. Each Week 12 People Receive Passes Free Each week for 26 weeks there will appeor in the advertisements on this page the names ond eddresses of 12 lucky people in this area. It your meme should appear and yeu lecete it, all you ere asked to do is clip the od and present it et THE OSHAWA TIMES office, You will then receive your "4" posses to Bowl! et the Oshowe Bowling Lone. Passes--Must be claimed by 12 noon Tuesday following publication, #251 SOUGHT COMPANY 2,730 When the Japanese cut off ee supplies of natural rubber by 126 | invading Malaya in 1941, the! 735 Canadian government shopped , ggg | around for a company willing to "™ turn out synthetic rubbe It found no takers 450 In 1942. the government itself 145 164 Time and Reader's Digest, which have been. operating "Canadian editions' since the 1940s with a eirculation of 290,- 000 and 1,000,000 respectively, have argued that to include them in the non-Canadian cate- gory would be to discriminate against two organizations which have become well established in this country As well as these two major) consumer magazines, said to) control 40 per cent of Canada's would be of more value to new and small companies sybject to those faced with losses sistance take the form of grant: of defined amounts to be taken in cash or applied as credits against the tax liability of the business concerned. Mr. Gordon said a bill will be) introduced to provide in 1967 and later years a grant or credit magazine advertising market,|equal to 25 per cent of the de-| two small foreign owned|fined amount of expenditures on) weekly newspapers also will] scientific research be exempted, They were not! | vin aa Cut 'On Paper' | In addition, catalogues and periodicals promoting the arts,| scholarship and religion will be! exempted ad Raps Plan U.S. Control ent for approval of bylaws "which will only permit the transfer of the company's vot- ing shares to Canadian citizens Appears Large | OTTAWA (CP)--The cut in the basic federal income tax prseere by. Finance Minister) than it will in the pay envelope.| As Mr. Gordon mentioned in his budget speech to the Com- cut is to counter-act an ex- pected reduction in private spending as a result of collec- mons, the main reason for the) 110,000 1,282 1,200 2,280 | (Canadian figures include cur- the lower rate of tax and forjrent 21-per-cent tax abatement). ving to provinces. U.S. figures cover He proposed that the new as-federal taxes only~not stateliiqy profit to the Canadian tax-| taxes.) Drug Tax Goes | If Okay Given OTTAWA (CP)--Finance Min- ister Gordon is willing to lift the \1l-per-cent federal sales tax on) drugs if a special Commons committee decides the step is warranted. | He told the Commons in his budget speech the government has received numerous repre- sentations expressing concern over the high cost of drugs in Canada and asking that the sales tax be removed from ordon looks larger on paper|them to help cut prices "The government has. consid- ered these representations, but does not wish to act on them until the matter has been con- jsidered by the special commit- jtee of the House on food and |drugs,"" he said. A special Commons commit- set up a Crown company called) |Polymer to produce synthetic) King St. E. et Ritson Rd, lrubber for the Canadian war| | Polymer has been returning al |payer ever since, Net income} after taxes now runs around) $10,000,000 a year on sales of; more than $100,000,000 annually, | Polymer lists its assets at) more than $130,000,000 though it| is carired on the federal gov-| ernment's books at a nominal) value of $30,000,000. It employs| more than 2,500 persons and has subsidiarics in France and) Belgium. It turns out a wide @ Automatic Pinsetters 36 ATHOL £. ALDSWORTH . CLEANERS 725-1812 OSHAWA @ Ample Free Floodlit Parking oe @ Year Round Air Conditioning Open & League 5 Pin Bowling MOONLITE BOWLING Every Fri. Evening et 11 p.m. $3.00 for 24 Games 7 ' " WARENYCIA ve JHA 203 Oshawe Bivd. M OSHAWA BOWLING LANES 723-2631 Oshawe Shopping Centre ? & Oshawa 725-5841 STATE FARM|2 Fire and Company id Office, FREE ROLL OF ALUMINUM FOIL With Every Estimate On jrange of chemicals and other projects as well as synthetic rubber, ee | Officials said that if the de-| velopment corporation has a) sound base on which to begin operations--thai sound base be- ing Polymer--it may be more venturesome in championing new enterprises. It is hoped that the new de-/ velopment corporation will at- tract Quebec investors--though likely not the Quebec govern- FISHETERIA ALM FRESH Halibut FISH & CHIPS TAKE OUT OR TABLE SERVICE 231 King W. 725-5522 Alum. Siding, Windows, Doors, Awnings, Ete. CALL SUPREME WINDOW & DOOR PRODUCTS (OSHAWA) LTD. Simeoe St. N, Across from Comp Samoc Oshewe, Onterie 723-9843 Hea Scarborough, Ont, PEGGY'S Hair Styling ® Tinting McKEEN'S USED FURNITURE "We Buy and Sell New and Used Furniture" 426 SIMCOE $. 725-5161 a2 Gerde Beeuty ager Norman Bird, 126 Lupin Or, i Whitby Call 728-2641 FOR APPOINTMENT ment--even though there is a tion established by the govern- Quebec Development yee ment of that province. | J. V. AVIATION Zoltan & Nick's SERVICE KOMATZ DRAPERIES GILLARD LTD. Private & Commercial Flying Instruction (Gov't. Approved Schoo!) e Aircraft Rentals @ Charter Trips Piper Colt, Tri-Pacer and Cherokee Aircrafts K. Foster, 300 Mary N., Oshawa 728-3191 || Oshawe Municipel Airport resident in Canada." tions for the new contributory) , wo Canada Pension Plan. |tee has been investigating drug istandards and production for When -- begin neXtlthe jast two sessions. It has yet, January, he avert, qrMas [however To consider the que : on OF costs take home pay down--though| seb not as far down had there been no tax cut. | For the man earning $5,000 a) § AN-ivear the 10-per-cent reduction night's bud-|would reduce to $208 from $238) Province Grab fetaicleea.euzeyze, Gordon Worry over a full year | OTTAWA (CP)--Finance Min- | This year the saving would he| ister Gordon said Monday night \g15 since the reduction is not|he hopes the provinces won't eat scheduled to take ¢ CLEANIT SERVICE LTD. J, A. Cameron, 161 Mill, 725-3555 if Busy, Call 725-3562 STATION 728-0051 MAJOR REPAIRS 3 Licensed Mechanics Wm. Dellow, 1010 Dundas E Whitby Volkswagen Service 160 Simeoe St. $. Oshawe Made - to - Order "We will visit you et your gonvenience in your own home for demonstration of samples end free asti- mates," W. H. Heron, 215 Hoilet N. Whitb: Call 728-8522 For Appointment Martin Mum On Treaty -- With France OTTAWA (CP)--The govern- ment declined Monday to. say ye FREE ESTIMATES Carpenter Work and All Genera! Repairs ONTARIO MOTOR CITY CABS @ RADIO DISPATCHED CARS @ 24-HR, SERVICE DAILY whether it eigned a cultural treaty with France before or after Quebec had signed such ty 8 114 THE AWA TOMER, Toner Ane 27,1948 ' Full Benefit | 5 PE CENT THIS YEAR, FULL BENEFIT IN ah Breakdown Of | ° . U.S. Should Favor Tax-Chop) wili Be Felt Cut Intended To Stimulate Growth Tax-Spending servhy t e e OTTAWA (CP)--Budget esti- . 4 OTTAWA (CP)--The personal Although federal - procincialor nephews can receive the)mates for fiscal years oe ut ot ag azine on (@) Ss n axes income tax LF gag ergy pee pd bio d pod pm -- tar od ae yee _ ap- ronsng 31 (in millions of dol- will be reduc y per cen com , an e|plies to their own children--jlars): under reductions announced residents of some provinces a|$300 if they receive family al- 1965-66 1964-65 By ARCH MacKENZIE there is a better chance of Ca) orpawa (CP) -- Canadian|(Monday night by Finance Min- bigger reduction than those in|lowances and $500 if they do $7,350 $7,136 nadians buying more. taxpayers will receive the fulllister Gordon. But because the others, the cut is being madejnot. 7,650 7,219 WASHINGTON (CP)---United As for the Canada Develop-|penefit of Finance Minister Gor-/new rates are not effective until in such a way that all tax-ay-| However, this will apply only 83 Giates, reaction te "g bp og ment Conperntion, ys Sous wre neone by cuts in 7 July 1, this year's reduction will a soqnetiens 7 where om if the father of the niece or budget awaits s reduce to some extent Canadian! The reductions announ be only five per cent. ve, will receive the same e-jnephew is dead or mentally or print, but chief interest is ex) needs for foreign capital--and/Monday night in the budget 'This will be the first reduc- fits, physically infirm, or if the|#0W 8 dollar of tax revenue pected to centre on four things. especially U.S. capital--at Aalspeech are effective July ition in income tax rates since Under the existing provincial|mother is divorced or separated se be spent under the 1965-66 . Canadian sources said these time when the United States isimeaning that in 1965 taxpayers|i957, There was an increase in abatement rate of 21 per cent,\and not receiving alimony or mee: are the 10-per-cent cut in per- striving to trim its flow of goldjwill pay six months' taxes atl rog2, the reduetion is actually about|similar payments, To qualify, egg yeiers and social se- sonal income tax, the Canada and dollars abroad. _ jthe old rate and six months at! "This substantial cut in per- 12% per cent in federal income|the niece or nephew must be fits Mr wpe veterans bene- Development Corporation, the Measures proposed regarding|the new. sonal taxes will encourage and tax after the abatements are|under 21 or, if over that age.) ~' igor : periodicals and ownership of] F ollowing table shows COM-|stimulate our working force-- ldeducted. 'This provides an ef-|™ust be in school or university Defence, 21 . * s Canadian ne wepap er 3 are bined B yo hae -- including those in management Ifective cut of 10 per cent for ¥ mentally or physically in-| Public debt charges, 14. aimed directly at the United|personal income ta ie and the professions upon taxpayers while not lowering|™™-. | "Transportation, Periodicals-Aid Program States. ee pon), belae pint rarcne whose tony had premeny the revenue to the provinces. Py Sv may also deduct|tions.and public i 14 become more costly|(he 1965 tax less the half-year 5/and progress depend, said Mr. én sal they support an aunt or co FE Peto Boa adcaiaase 42 aly reduction, and the 1966 tax with} Gordon in his budget speech. Pang icine lonniomemea| wel? who is mentally or phyal- Resources, and industrial de- N a ers" Canada non-Canadian maga-\# {ull year's reduction (assum-| The 10-per-cent cut will apply for economic purposes, '1)°#lly infirm. Rap scone en 0 ewsp p loines or newspapers, except for|ing no change in federal rates/fyjly to all taxpayers except would not expect provincial Annual membership dues in 2 ene * : ltime and Reader's Digest. jnext year) ae lthose in the high income brack- vovernments to move in' to|ttades union, or an association palities, 6. ter said, "No existing commer-| revistation originally pro- ns rd 1966 | raise their income taxes to take|0f Public servants, or a profes-| Other government cial interests fev - ae posed by the Canadian BOVErT-|gingle a pS og e advantage of our action." re ing -- "to main- o nor will any changes in existing lected those two period:|" , Pl $ P ] t The 10 - tion tain a professional status," now) Where the budget dollar advertising patterns be re- ---- peg! yo Biel was| #2000 | $99 4 rf 0 er Irs eover Poe Per ed vs es | eel be allowed as a deduction|comes from quired iticlsed publicly by George a. ae 4 : earning $3,000 wh q\from taxable income ~~ apart) Personal income tax, 27 cents "Foreign newspapers Can en- oes p wands =| 4,000 403 383 363 s 4 1B 9, who now Pays @lrrom the standard $100 deduc-| Corpor 7 " 4 orels rip depigglee PM-ipall, U.S. undersecretary off 5'ho9 59) 561.5 592 total income tax--both federal i I uc Corporation income tax, 21, ter Canada freely and will con-)))., | 9 59 Sl. a a 0 Ora 10n pike pe ears f tion, The latter previously in-| Sales tax, 18 Hinge to do 60, tat we inten' ye d er. Gor-| me Lome 1am lees bt gg aan fe cluded these dues, along with} Customs duties, 9. rane scan iectosed thetlthet our Canadian newspepera|, Now, Finance Minister Gor 10,090 1.733 = Att tte : Le) apaase | unspecified charitable donations! Alcohol and tobacco, 9. jegisiation to prohibit tax de-|shall remain under the control don has added newspapers 0) 15,000 3,520 3.344 3,168] oppawA (CP)--What better| Mr. Gordon said the develop." °°""" Sh cadieel axpeniec. \ Sarto © ductions for advertising in non-|of Canadian owners the list of publications that) 20,000 5,645 5,362.5 5,080) a. to start a new conporation|ment' corporation will be fi-| A married taxpayer with no| 7; : a | eo ' orn ublications and ban|. "They will be as free as ever could--under foreign ownership) 30,000 10,195 9,895 9,595] son to have it take over an es-jnanced mainly by selling its children and also earning $3,000| 10 oe pg ~ Py | be al- Non-tax revenue, 11. the. entry of foreign magazines|to determine their own editorial|--become more costly for Cana-| 50,000 20,338 20,033 19,733) :antished business with thejshares to the Canadian public|will have his $99 tax bill re- their hl ing Bo goobess od "ith advertisi aimed at the|content; they will be free to use ian SAVEEURGTS V0 DKS He de-/100,000 49,295 18,995 95) sweet smell of success? through the usual channels such) duced by about $10 1 : a Tegiserec Chaedian market will be placed whatever foreign commentaries|scribed this as a "purely pre-\Married, no dependents Finance Minister Gordon an-|as investment houses. No per-| A married taxpayer with ewolan ie provinar Bt at "il Old Age Fund ef the Commons for ajand other features they wish; |veutive" sasthog of enett ie) 3,000 99 ' nounced in his vudget speech|son or company will be able to| childre d al i . ; Oa ee Goorth ilas sm they will be free to rely upon|continuing Canadian ownership) 4,000 236 224 2 lslonday night establishment ofjown more than three per cent| now poling reg orig Sorat Meyer is taxable when it! The provisions will take ef-jwhatever foreign or interna 1 Se eS pec 363|the Canadian Development Cor-jof the shares except the gov-\per-cent reduction would trimlis paid back out of the plan Shows Surplus fect next Jan, 1 tional news services 'they fa-| In. proposed changes to the) 7,500 918 872 826| poration and that its first in-jernment, Shares will not be) about $3 from this Weclivans whe resave. & The "Canadian editions' of vor." Customs Act, Britain's long-| 10,000 1,505 ! 420.5 ag vestment will be purchase of|traded on the stock market | 'These rates do not include|lump sum when they laavel OTTAWA (CP)--Finance Min- Time magazine and Reader's DOESN'T GIVE REASON standing complaints have been| 15,000 3,120 2,964 808line profitable, publicly-owned) Officials said it is conceiva-jthe four-per-cent old age se-|their jobs will no longer have to|ister Gordon predicted Monday Digest -- central targets = Mr "Gorton Pen pag yi -- ee " pe ad ¥ 4 4 Heed 675) Polymer Corporation at Sarnia,|ble but not likely that a syndi-|curity tax | include this in taxable income|night that the old age security groups seeking such legislation) . achat w,(enat Canadian anti lumping; 3, 1098 p< | Ont cate could take over control of} The three categories of tax-| provided they transfer it into a/fund will have a surplus of will be exempted from it. geht ig AB sera ig Ming regulations discriminate against) 50,000 19,783 19,483 183)" Officials were asked why &/the corporation payers would all have to earn| pension om « retirement say.| 240,000,000 this fiscal year, With the exception of the gest, ne f the. "Cenadi 43 Britain in competition with the 100,000 48,645 48,345 085 corporation bent on develop! wr Gordon said an impor.| more than $20,000 before getting|ings plan or a deferred profit-| He said in his budget oh added provisio covering news- the letter of the "Cana vel United States. Dumping is said|Married, two dependents ment of new enterprises should/iant objective in establishing} 1€88 than the 10-per-cent reduc-|sharing plan. Bio My 4 . gel speec papers, the two resolutions pro. But Prim Mi ister Penrece "init occur when the exporter, 2.00 * 31.5 80 nuy a long-established business|the corporation is to encourage| ign At the same time, Mr. Gordon|from revenues 'ot 41,145,000,008 posed by the finance minister pivelben oh eae iactsietion 2\sels to the importing country at} 4,000 153 144.5 173/ which has always made a hand-|the development of industrial) A single taxpayer earning|moved to plug a loophole injagainst pension payments of were identical to those intro- year ago said it was because|t price nine to » ee: soc pp pets aa. 797) Some profit : lopportunities in Canada by Ca-| $30,000 would get a 5.9-per-cent|connection with lump-sum pay-|$905,000,000. duced in past years, but never/; special editions have market value" he charges a 10000 1 349 19818 odio ey said the main reason 48) nadians jreduction under the $600 mini-| ments. It involves section 36 of} The surplus would be used te acted upon lbeen established in Canada for | home eee ntti that the $1,000,000 po type mum clause. A married tax-|the act, which provides relief/repay outstanding loans of §36,- AREN'T DEDUCTIBLE lsome years and have made al rf 000 4 4678 432| Con at ming 10 er poe years 330,000 erg pa i aii yea rp Aig nn ht henley gan RE wer J : 2 pete 294 argamen l pe ; : j eau, vould get a 6,2-per-cent) tha o to taxpayers, usually|w I They provide for: sag far Gemmserves ie An) j 30,000 pve of the 200,000,000 shares, each|the need for additional Cana-|reduction, and a married tax-|from poesia pot np or ates | ragercieybe gong pore ow ~The disallowance as # de-|dian readers. | sea' 0 | 50000 19.4! 19/153 ee ae peepee De. , L n e cost of paying bene- {i While Time and Readers' Di-| ie ¥ 309 1498 worth $5, needs a successful/dian sources of financing for| payer with two children earn-| sharing plans. fits under age 70 ee seatneatareneeat vee be exempt from the| 100,000 48,255 | company ee its pocket Fe By | businesses in Canada, particu-| ing $30,000 would get a-6.4-per-| The minister said some tax-| The existing qualitying age of s\g 4 | \it an aura of money-making and)... isis leent cut. ayers arranged to have "'inor-|70 is hei on advertising in any non-/two main measures, Mr. Gor-| 0 N SY b , ' _llarly where substantial sums of, pas ve ' inor s being lowered progressiv- Canadian periodical or news-|don indicated they face govern n New stem Tax Com ared Be ern cat maiiunis : jequity funds are required," he} op ne bees, 4 re saoniondl ne that on Hi all persons a ent action on another front. | . p | , : : sos teres pi | t u n en receive|65 and over will receive the 4 tn ag cen ia ee intol "The question of the subsi-| wcrot of jitees susiantna) W bel sine reba pull if when they leave their jobs.|ments, now $75 a month. ~ this country of any foreignidized postal rates now enjoyed)... deductions for ecientific re-| . K jowne omp: s El- 5 44 ; HY enti | ldorado Mining and Refining) publication containing "'split|by Canadian editions of Non-| earch was proposed Monday it abdey ehde [Limited 1 Canadian Over! run" advertising aimed at\Canadian periodicals will be). " wicictas nk! |Limite and anadiar ver-| Canada and not appearing in| studied as part of a general re,|neht by Finance Minister Gor-| Qrpawa (CP)--What Cana-|seas Telecommunication Cor- other editions or containing|view being made of postal on dians will pay in income taxes poration be sold to the Cana-| more than five per cent ofjrates," he said "a | In 1962 @ provision was intro-|j, 1965 compared with taxes in ~ a aoe | Spok for the Canadian|duced to permit companies mak-| +} United States. and Great; Too early to tell, officials) te een oe end nnaalng "gly eae. eB nye pyaar De Sater pete other editions or not. ltrades previously pressed the search to deduct not only a e answer appears to Mr. Gordon said that, while|government to include Time|these expenditures from iN-\single : s not exist at! Reader's Digest in the non-|come in the year in which they|¢9 900 $94 $182 4 met erthin the Conn | Canedian conenty are incurred but also an addi-| 4 999 183 545 dian newspaper business, there} Similar pressure has come tional 50 per cent of the increase) 19 999 1.705 2,360 is no existing law to prevent|from within the Liberal caucus,|in research spending over that\yjarried, no dependents a« foreign take-over. |some members of which have/in the pee base year. This pro-| 2.900 66 "Given the vital role news-|made speeches in the Commons vision expires next year. | 4,000 224 «899 papers play in influencing pub- criticizing the proposed exemp-| Mr. Gordon said in his budget | 10,000 1,430 1,950 lic opinion, we do not believe| tion. jspeech that this inducement)Married, two children we should run the risk of them) . BS z ' iwould be fairer and more effec-| 2,000 -- eee ee ew tees tive if it were in a form which) 4,000 e operative provision, as far as guarding Canadian news- papers is concerned, is a defini- tion of @ Canadian publication which must be met to avoid the non-deduction tax penalty. SETS CONDITIONS It provides that a Canadian publication be set in type and printed in Canada, edited here by persons living in the coun- try, and published in Canada. | Tt also requires that the pub- lishing company be headed by a.Canadian owner or chairman of the board with 75 per cent of its directors. Canadian and 75 per cent of its stock or cap- ital value held by Canadians. "The purpose of this measure as it affects newspapers is purel ypreventive," the minis- TORONTO (CP)--Budget pro- posals which would extend gov- ernment ald for periodicals to cover newspapers as well were described by St. Clair Balfour, president of Southam Press Ltd., aapee? night as tending * | "to muddy the waters.' Effecti D "Tt is rather unfortunate that ve ates the government = oumiet ied problem of Canadian periodicals Of N B d t with ownership of Canadian ew u ge newspapers," said Mr. Balfour.) OTTAWA (CP) -- Effective I am sorry that the govern-\dates of main changes ment has chosen a tax method! nounced in Monday of attempting to deal with the) get problem of Canadian owner petroactive to Jan. 1, 1965. ship of newspapers. / | Income tax deductions for tax- R. S. Malone of Winnipeg.) payers with dependent uncles, general manager of FP Pub-| aunts nies h lications Limited, said , yollh: aStiing, nihil TT fool that He tau periows| wnien cued fully Seductibie, ROONNG. AVSERNITE\ mistake for the government to have involved themselves in this matter of ownership and con- trol of the newspapers of Can- ada PAPERS ARE CAPABLE 'In my view papers con- verned with their future Cana- dian ownership are quite cap- able of establishing their own safeguards without government intervention "T feel that this measure was primarily designed to provide protection to the magazine un- der the: guise of Saving news- papers from foreign control." A week ago FP Publications, which owns the Ottawa Jour- nal, Winnipeg Free Press, Calgary Albertan, Lethbridge Herald, Victoria Times, Vic toria Colonist, Free Press Weekly Prairie Farmer and also publishes the Vancouver Sun for Pacific Press Ltd., an rounced that it was taking ateps "to ensure that control of its various newspaper proper tles in Canada shall remain in Canadian hands." The company sald it was ap- lying to the secretary of state lor supplementary letters pat- Maximum deduction for pen- sion plan contributions raised 20 per cent from 10 with $2,500 ceiling continued. Lump-sum payments on ter- mination of employment non- taxable if transferred into. pen- \sion fund or similar savings. | Deductibility for costs of jclearing and draining farmland, reducing pollution by industrial }wastes and for other specified business costs. May 1, 1965 Tax write-off period for grain) |storage facilities shortened to} yeats from 20 and 40/ Labor Enjoys four . vers exvires Dec. 3t.288 Small Benefit Personal income tax reduced] OTTAWA (CP)--Some union 110 per cent, limited to $600 max-jmembers will get a small extra imum annual cut for individ-itgy benefit from the new fed- uals eral budget ; Dec. 31, 1965 One new provision, effective Costs of advertising in for-lwhen making out 1965 income jeigh owned magazines andjtgy returns next spring, allows newspapers disallowed as de-jfor the full deduction of trade |ductible business expense. J Starting next Jan, 1, a man) earning $5,000 annually will con- tribute about $66 a year to the Canada Pensions Plan. But this doesn't compare easily with the tax reductions which will be tax- exempt since it isn't known how meshed in with existing private plans. ly 1 jfore re | pockets. pension contributions will be) tfect until iP his budget tax reductions be- they reach the public's He said in his budget speech the reductions, featuring a 10- per-cent cut in personal income taxes and totalling $265,000,000 in a full year, are designed pri- imarily to "encourage and stim- ulate our working force." | "Since this tax reduction is jbeing deliberately made to lachieve these economic effects, |I would not expect provincial |governments to move in to raise their income taxes to take jadvantage of our action," he said He reiterated this hope in a ost-budget press conference Under the existing fiscal jagreement with the. provinces, p jh Ottawa rebates to them--or va-| sates, if the province wishes to collect the money itself--a share of the current personal income tax rate. This year the abate- }ment is 21 per cent; next year it will be 24. an agreement with France. External Affairs Minister Martin twice skated around the 728-0344 CONTRACTORS 725-1127 opposite bus terminal question, put first by Douglas Harkness (PC--Calgary North) and then by Opposition Leader Diefenbaker. Prime Minister Pearson said earlier in reply to Mr, Diefen- baker that any misunderstand- jing in the field of treaty - mak- ing rights as between the fed.) jeral and provincial govern-| jments can be cleared away and) that steps are being taken to that effect He told Gilles Gregoire, dep uty Creditiste leader, that he jwill meet soon with Quebec jEducation Minister Paul Gerin- |Lajoie. | Mr. Gerin - Lajoie has said the provinces have the right to negotiate with foreign countries in fields in which the provinces jhave jurisdiction Mr. Gerin - ment was at Lajoie's the top of state-| the! i junion dues payments without af-| 4 province can levy its own|Commons question period when} Extended to Dec, 31, 1966 Fast tax write-offs on ma-|tion allowed without receipts chinery and equipment purch-| Formerly a union member ased by Canadian - controlled|who claimed the standard $100 companies; was to expire Junejcould not deduct any union dues u \from his taxable income. lfecting the standard $100 deduc-|tayes yp to this amount without|the !"double - taxing' its residents Reyond figure provincial taxes overlap the federal ones, as now is the case in Quebec iwhich collects ite own taxes this House ;esumed jafter an Easter recess ' Mr. Pearson said only the federal government can enter into treaty arrangements with foreign states Monday Too tired e to cook? 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