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a CLC LAUDS TAX CUTS FOR LOW-INCOME GROUPS By THE CANADIAN PRESS Finance Minister Sharp's anti- inflation budget measures gen- erally met with early moderate approval. There was commendation over the removal by stages of the sales tax on production ma- chinery but some skepticism over the effect of tax measures to hold down private invest- ment. The personal income tax changes with smail reductions for low-income earners were de- scribed as "a move in the right direction" by the Canadian La- bor Congress, There was mainly agreement with the government's decision to cut down on its construction program, but a sharp dissent came from Premier Walter Shaw of Prince Edward Island. Annraval Mo ey FT Wwe some measures of restraint to bring about a better balance of| supply and demand." However, in comment on measures to slow down private capital investment. Mr. Keith said it is "questionable as to whether the discouraging of pro-| ductive facilities is helpful in meeting the acknowledged need to increase efficiency." Ronald Robertson, director 0 the Canadian Tax Foundation, said in Toronto that one of these measures -- the "imaginative" special refundable. tax on cor- poration profits -- should find general acceptance both from those concerned about inflation and those who feared too-dras- tic restraints, Humphrey B. Styie, president of the Canadian Manufacturers' Association, said the forced-sav- He said deferment of the sec- ond phase of the projected |said the measures applied to Anti-inflation Budget derate ward" with reduced capital cost allowances for buildings and equipment. Its restrictions would cut lightly into the government's own projects but heavily into private programs. "We would have preferred a positive approach whereby in-| creased rates were announced to be available in 1967 or 1968," CCA President Armand Trottier of Quebec said in a statement. "This would have served both as an incentive to some owners to defer their projects and also to establish a more appropriate level of capital cost allowances for the future.' A. T. Lambert, president of the Toronto - Dominion Bank, business perhaps would cause it to defer some less-urgent spend- ing but "it is difficult to know if the finance minister has gone ings plan '"twon't be liked by | those affected" but is "much to as far as the situation required. | new levy on corporate profits "will be unlikely to restrain| corporate projects." He also said retailers will be} disappointed with the decision to increase personal {ax rates, par- ticularly on middle - income groups. The government's move to) scrap the 11-per-cent sales tax on production machinery in the next two years was welcomed generally, though an American Motors spokesman said he was disappointed that it was not eliisinated entirely for the auto- motive industry in the interests of boosting exports. Mr. Style, however, described the sales tax commitment as the 'most pleasing feature" of the budget, though he said| the Manufacturers' Association} would have preferred to see it go earlier. Automobile and electrical OTTAWA (CP) -- Automobile tool and die industries received cwoening tav and tariff eanceac. sions in the budget speech Tues- day night. Effective ioday, all tools, dies, jigs and other machines and in- struments used to produce cars and car parts are exempt from the 11-per-cent sales tax. Import duties on automotive machinery of a class or kind not made in Canada are slashed to a token level, also effective today. Government spokesmen said both measures are designed to help Canadian tool and die plants to compete more effec-| Truscott Case Studied -- Pennell OTTAWA General he Steven Truscott case. In answer to a question from Tool, Die Units Get Concessions THE OSHAWA TIMES, Wednesdoy, March 30, 1966 3 in Windsor, Ont. The company attributed the closing to other factors. Tariffs on imported automo- tive machinery are cut to one per cent of previous levels, which varied from item to item. ~ tively with similar industries in the United States. FON SAAN Na RN Raton A the automobile free trade agree- ment that went into effect last fail "between Canada and they S. Ha ip if you think there is not e b mnad aimee ta ane 1 At , awa .... them you haven't tried the dining room at the HOTEL LANCASTER 27 KING $T. WEST, The spokesmen said the tax OSHAWA and tariff exemptions are not expected to prevent the shut- down of the Ford tool-tie plant 4 IGHLY RECOMMENDED (CP) -- Solicitor-| Pennell said Tuesday | is still considering what| |steps should be taken in the! The Rik Room NOW OPEN SUNDAY 4 TO 7:30 P.M. Continental French Buffet _ Served Daily 11:30 - 2 p.m. -- 5 to 8 p.m. GENOSHA HOTEL "To the extent that it results| manufacturers. welcomed the in some deferment, it seems ap-|jmmediate removal of the sales propriate under present condi-| tax on tools, dies, jigs and other tions." tooling fixtures. Earl Brownridge, president of American Motors Canada Ltd.,|'WILL LESSEN PRESSURE' t . agreed that corporate restraints) Fred Samis, general manager sion is reached. were necessary and said the} of the Canadian Electrical Man- The government has been| r Mac- |line with its recommendations] next year or so of special capi-/ moves were "probably reason-|yfacturers' Association, said in asked to set up a royal com- | for meeting the threat of infla-\tal costs allowances and tem-| ably effective approaches in the| Toronto the action will put his|mission to inquire into the trial} of rising prices and in-|jndustry in a more competitive|seven years ago of the Clinton, | tion. jporary reduction in deprecia-| light é | | | | FINDS IT 'REALISTIC' tion rates. They should be re-| creasing shortages of skilled la-| position in foreign markets and|Ont., teen-ager who was found | ilty of the sex-slaying of a) Jack M. Keith of Montreal,|stored at the earliest possible} bor." be a factor in lessening pres-|8U) chairman of the chamber's ex.| moment. But Alasdair McKichanof Tor-| sure on prices. 12-year-old girl. | lecutive council, said that gen-| The Canadian Construction As-| onto, general manager of the) xan Scott, president of Ford| A recent book on the trial has| lerally the budget '"'appropri-| sociation said the government| Retail Council of Canada, said] 9 Candda and of tlie 'Mototlraised doable about the bov's 'ately and realistically calls for|had taken "'serious step back-! most business will feel that the! yonicle Manufacturers' Associa-| suit bts ys! | Diefenbaker Calls It: iy Saeed "Hopeless, Heartless' 1,214 this but reserved. comment on| 2,396 | other budget provisions. 5,537 V. C. Wansbrough of Toronto, | managing director of the Min-| ing Association of Canada, said} he was '"'very Satisfied" with) the deferred removal of the tax} 65 | ti i ener: 158, OTTAWA (CP) -- Opposition|said Liberal supporters had ap-| He said Canadians face Can-| oy production Sauinmen' genet 266 | spokesmen Tuesday night dis-|plauded Mr. Sharp only when|ada Pension Plan deductions] 606\missed Finance Ministerjhe praised Mr. Gordon. \from pay envelopes for the first 1,019|Sharp's first budget as a do-| Mr. Cameron, member for|time while being hit by in- 2132|nothing effort that failed to|/Nanaimo - Cowichan - the Is-|creased federal, provincial and 5,195|help the taxpayer faced with|lands and the NDP's financial | municipal taxes. 14,915 | rising living costs. jcritic, also deplored the fact) The government should have Conservative Leader Diefen- that the sales tax on building|accepted the Conservative cam- Lewis Cardiff (PC--Huron) Mr. Pennell said "I am deeply sens-| ible to my duty in this matter."| He promised to make an an- nouncement as soon as a deci- causeway to link the island with| be preferred to a flat tax in- | New Brunswick will be "a blow) crease." {to all our hopes for a solution| Mr. Style called it a "groan | 'to our. transportation prob-|today, grin tomorrow," budget} lems." jso far as manufacturers are The Canadian Chamber of|concerned. He expressed doubt Commerce said the cutback on|about the efficacy of the gov-| | federal spending is generally in ernment's termination over the 50% MORE INTEREST 100% MORE HOURS Central Ontario Trust OFFERS the Oshawa 50% More Interest working man on savings (We ALWAYS heve) 4%4% paid and compounded quarterly from the day the account is opened. No waiting 4 period, Minimum account, 100% More Saving Hours 9 am. to 6 p.m. Monday te Thursdoy 9 am. to 9 p.m. Fridey 9 am. te 5 p.m. Seturdey Sunbury, J. Cheste Rae, en route to the Com- mons Tuesday night for the finance minister's budget speech. PRIME MINISTER Pear- son (left), shares a laugh with Conservative member of Parliament for the New Brunswick riding of York- HERE'S OLD, NEW TABLES OTTAWA (CP) -- Following, 5,000 414 table shows income taxes for| 7,500 819 1966 under the new rates an-| 10,000 1,313 nounced by Finance Minister) 15,000 2,602 Sharp in his budget speech in| 25,000 5,885 5 the Commons Tuesday night. 50,000 15,741 15,333 Comparison is with what Married, no dependents gould have been paid if there} 2,300 13 had been no change in current} 2,500 rates. 3,000 The federal tax payable does| 4,000 not include provincial income] 5,000 tax or old age security. tax but} 7,500 includes an abatement of 24 per) 10,000 cent in accordance with current| 15,000 federal provincial arrange-| 25,000 ments. It assumes the taxpayer/ 50,000 takes the standard $100 deduc-| Married, two Good Names Te Remember When Buying REAL ESTATE Reg. Aker--President Bill McFeeters--Vice Pres. Schofieid-Aker Ltd. 723-2265 Selling | 14 26 29) 59 158 278 649 1,100 2,314 5,543 15,263 ally. He felt the mining inlustry might slow down in line with the government's attempt» to stretch out the business expan- sion. Tariff changes in the budget drew approval from the Cana- dian Importers' Association. It} HEAT WITH OIL DIXON'S OIL Plus ! @ 4% Personal Chequing Accounts--no service charges Estate Planning Mortgage Loans Real Estate Sales and e@ 6% Guoronteed ,investment Purchases tion for charitable donations. AFTER BEFORE dependents 20 22\baker termed it "hopeless, 58\heartless."" New Demoxrat 3,000 3,500 53 was {materials will continue to hit|paign proposal of a $500 mini- municipalities, sc hoo] boards|mum deduction from taxable in- jand churches. come for home owners who are said in a statement that it was} pleased Mr. Sharp "has recog nized that tariffs must be re-| 313 ALBERT ST. 24-HOUR SERVICE Certificates--1! to $ years Pre-paid Save-by-Moil kits @ Investment Funds e@ Free Hockey Ticket Drow 97 205 554 987 2,141 5,334 15,012 100|Colin Cameron said it 199|"rather picayune" and Credit-| 519|iste Gilles Gregoire accused Mr.| 916/Sharp of imposing bureaucratic| 1,973| controls on almost every church} 4,986 and rectory in the country. 14,665! Mr. Gregoire (Lapointe) was referring to an Income Tax Act jamendment that would require CHANGE CHANGE Single, no dependents $1,300 1,500 2,000 2,500 3,000 4,000 5,000 $15| 7,500 29/ 10,000 65] 15,000 110} 25,000 156! 50,000 moved in order to improve Can- ada's export position." The proposal to eliminate the} 15-per-cent withholding tax on| new bond issues of governments drew a mixed reaction. | As Mr. Cameron talked to re-|being "taxed out of their porters, the Canadian Labor| homes. Congress, which helped found; Mr. Monteith criticized Mr.| the New Democratic Party, is-/Sharp for not announcing in-| sued a statement applauding|creases in the old age pension Mr. Sharp for not taking dras-|above their present level of $75 tic steps to curb inflation. The|a month. CLC did express regret that) Price increases since the last building materials will still be|boost in 1963 had lowered the jcharitable organizations, includ- , , ling churches, to register with subject to the 1l-per-cent sales|value of the pension to the tax, equivalent of $70. the revenue department and file | He said the budget lacked 723-4663 SERVING OSHAWA OVER 50 YEARS 26 59 108 158 Central Ontario Trust & Savings Corporation 19 Simcoe Street North, Oshawa 723-5221 GOLD Stake your claim on ADAMS GOLD STRIPE CANADIAN RYE WHISKY "Essentially weet happens in typical cases is t!at contribu- tions or profits from a_ busi- ness, made dc ictible in com- puting income for tax purpose and held in a tax-free fund, which were intended to benefit the employees of the business generally 2"e being diverted to benefit a few key people, chief shareholders or their relatives or heirs." Mr, £°arp said Revenue Min- ister F 1son will accept no more d 'erred profit - sharing plans for registration until the | act is amended. The resolution covering the) changes would authorize the federal cabinet to draft regula- tions to define the property in| w' ch funds of a trust governed by a plan may be invested. EARN UP TO $100. A WEEK OR MORE PAY JOBS WAITING for MARVEL GRADUATES Marvel Hairdressing. Schools in principal cities offer ex- clusive "MARVEL TOUCH" training Complete course DAY or EVENINGS. For free brochure, write or visit MARVEL BEAUTY SCHOOLS Established over 40 Dept. OT, 219 Bloor St. W. TORONTO 34 SIMCOE ST. NORTH SWEET JUICY NAVEL ORANGES 99: 2 or 43! 10 tins 5] A tor 5] 49° DOZ. BAG Brookside. 24-ox. BREAD Clarke's Tom-Veg. SOUP Biscuils SKINLESS MAPLE LEAF WIENERS 1-Ib, FRESH PORK SHOULDER FRESH PORK BUTT FRESH PORK 212-3 LB. AVE. LOIN END Leen Tender RIB STEAKS IG B BONELESS BEEF SHOULDER. LEAN MEATY SHORT RIB ECONOMY 6 & 7 RIB PRIME RIB Orange-Lemon Securities Amendments Ch s Aim To Please Canada rem US. _-- financial statements. |pEJECT NDP PROPOSAL iH je boner Mr. Diefenbaker said the . i ' ;-./Vision an eadersnip to en- Mr. Cameron said he was dis jcourage Canadians to sell more changes in securities law|ment protesting some regula-|more general'"' rather than ex-| joe Obie w, ® liga uw | i 5 g ' jected. "This would curb rather|'ACT AS AGENTS' amendments 'mutually satis-|tions in the proposed law that (tend the government's § an-|ijlic i ' | shies ple: illicit profits in our economy! yr. Gregoire said the new Commons Tuesday. more U.S. residents to register |loaded Canadian taxpayer," ex-|4; sl a ae nis yer, €X-|tional tax on corporation prof-|wi ~ ; , lwith the U.S. S ' Ry. | : it por pri will force priests and clergy- ecurities Ex-|cept in the $3,000 to $4,000 an its, to be refunded in 18 to 36|men to act as income tax offi- |prices except for an expressed ; ; | been held, he added. Mr. Monteith led off opposi-|for donations are deductible up do not expect Canadian com a- | Progressive scrapping for thejuntil Friday. During an initial| e P |1l-per-cent sales tax on produc-|four-day discussion the Fees kad a me pases hes. Mr. Gregoire also criticized Sh p preciated the efforts of U.S. au-|terials -- had only "'tinkered"|the minority Liberal f =-- . ; t ) 4 govern- ar thorities to increase the amount | with the tax, the .Opposition|ment if passed, "The only progress we saw | was when Mr. Sharp U.S. investors and was pursuing | +e wi . : ; ; : E - 'as Pp tf porters outside the Commons,|poning and staggering," a "'pro-|@ gtin. Mr. Sharp read a few down on businessmen exploit-| "much the same objective with| Iw i Sed edieelt Bo bie he ragr j 'ri i ing profit-sharing plans to the a ee eS eee oe Rieu. law would not be fair to many|ment, said Mr. Sharp had re- te 7 licy Grcced th Me udeet sheechic alt neny |i 8 Mr. § p | ment's fiscal policy must be|said federal debt charges are Wasahac wicht * g peech Canadian companies which|versed many of the financialjaimed at easing up on the ac-|too high when they eat up 14 have nevertheless been found to/ Mr. Gordon, who resigned the) 'It doesn't matter i if | fi i i i vo ' n ESS _Mr. , : s which if|finance investments in public of 'increasing abuse" of a sec-| be an attractive investment by finance portfolio last year,|the jack i "kl Ww spitals te me boas Tan ne p year,|the jack is under the back/works, hospitals, schools, roads ing plans. Since the measure was intro finance minister, various busi- nessmen and their professional section in various \. ys." "KING OF ROASTS", FIRST 4 RIBS--SHORT CUT 7 9: LEAN MEATY c 65 lb 65: 755 OTTAWA (CP)--U.S. authori-| Mr. Martin tabled a Jan. 14|budget was "'dull and ineffec-| annointed that NDP ions ties are trying to work out/letter to the U.S. state depart-|tive'" and would '"'make poverty seg oan gto tax eere re [abroad factory to Canada, External Af-| would require Canadian compa-|nounced war on poverty. lthat don't " clory to , 7 Bk ' get taxed," he said. : mia fairs Minister Martin told the nies with stock held by 300 or| " '"'over- ; ;|tegulations to register charit- y It would not help the "'over-| He said the five-per-cent addi-| ote organizations and churches 2 [change Commission. nual income bracket, and it i igi : : ' ¢ ™/ months; js far too low and rigid|cials for the government Further consultations had |took no action to check rising , i 7 8 3 Protit Plan to have any appreciable effect At present all church receipts ae : hope they would go no higher. | 4; itici | 'In the meantime, I under: | : tion criticism of the budget be-|t) 19 per cent of income but Change Due stand that the U.S. authorities) Mr. Sharp--who announced ajfore the debate was adjourned| 4 eiatacvante are required nies to register.' ot" machin d ' tlt eee chinery and equipment|tion may move motions of non- The letter said Canada ap-/|pyt no change for building ma-|confidence which could defeat] ar aie works. and cutbacks in Cc WOrKS. of "relevant information" re-|jeader said : ; : gee a t said. Mr. Monteith termed it "in-| tonight OTTAWA (CP)--The revenue Specting securities offered to ig 1 alk ; ; i eg aaa .; department plans to clamp Mr. Diefenbaker, talking to|nocuous, dead-end, full of post-| Spoke French," he added with respect to Canadian investors." Perth), who ke: insid A ; F ; | ; > ins the| He noted that the finance|his 75-minute speech. detriment of their employees, | J Mace Mahce Rai : | ished Mintater pone sen However, the proposed U.S.|Commons just before adjourn-|minister had said the govern-| Bert Leboe (SC -- Cariboo) never sought to market shares | policies of his predecessor, Wal-|celerator of a boomin | ; I UR y s s cessor, | g economy |per cent . Mr. Sharp said that in recent|in the U.S. but "whose shares |ter Gordon. without putting on the' brakes teaid tie Rod ea a months there has been evidence iff : te ih Baba 300 or more U.S. investors." (chuckled when Mr. Monteith wheels." ici jects that provided special tax treat-, ashe eS ment for deferred profit-shar- duced in 1960-61 by Donald Fleming, former Conservative advisers had ex ploited this "well - intended but vulnerable he | P i Rib ik t BONELESS BRISKET c 59}. 555. 73% 69: Get in on the Gold Rush--to Adams Gold Stripe. Gold Stripe has that robust "unsinkable flavor" to enjoy with any mix--right to the bottom of the drink, Now's thetime to strike it rich with Adams Gold Stripe--at a popular price, yeors cello