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st tribune ivrfflchisfgfr pi tax time small businesses might pay more continued from previous page average industri al wage was clos er to 30000 under the new system the max imum insurable earnings were reduced to 39000 for 1996 and will be frozen at that level until the year 2000 this leaves highincome employees with an extra 120 in their pockets and employers save almost 170 in payroll taxes the clawback threshold will vary according to the claimants benefit history for claimants with less than 21 weeks of benefits in the past five years the rate will remain at 30 per cent however for claimants with 21 or more weeks of benefits in the past five years the threshold will be reduced to the maximum insur able earnings for the year or 39000 the amount clawed frack will depend on the actual number of weeks of benefits and will range from 50 to 100 per cent of the benefits received the govern ment states the purpose of the new rules is to discourage unnecessary use of the system by workers with lev els of annual income substan tially above the average annual income of cana dians however if you receive a retiring allowance after being downsized and do not trans fer it to a tax- deferred plan you may find your ei benefits clawed back because of this onetime pay ment if is obvious that the timing of discretionary receipts will now be more impor tant than ever as well the date of termination lowincome families with chil dren will be enti tled to a new family income supplement the supple ment will be tied to the child tax benefit and its working income supplement component when fully in place claimants who qualify will receive a topup to their biweekly ei cheque equal to the weekly amount of their child tax bene fit the new hoursbased sys tem will result in many small busi nesses paying more ei premi ums especially those that hired employees for less than 15 hours a week to avoid paying premiums under the old rules to provide transitional relief some small businesses may be eligible for a partial refund of the increase this article was submit ted by hr block and helen davis kusatz sharpley chartered accountants income tax returns other accounting tax services all year discount for seniors 1 0 on basic returns 6188 main street 6401991 income tax returns personal business efile reasonable rates personal professional service allan w eagar cma seniors discount 640- 1 499 this just doesnt work anymore it did at one time but not now come talk to us and we will help you reach your goals specializing in planning reducing taxes 1 making mortgages tax deductible tax shelters retirement planning self directed rrsps self directed rrifs reducing effects of inflation investment management outperforming gics impact of global investments asset allocation strategies call today for a free confidential review ron gerry ba ca branch mgr the financial planning group 37 sandiford drive suite 204 stouffville 905 6428371 attention serious investors michael comeau vice president and senior investment advisor of td evergreen investment services is available for consultation at the stouffville td bank branch td evergreen is a full service investment dealer and offers broad range of investment products and services including domestic and foreign bonds canadian and us equities over 400 mutual funds rrsps rrifs and resps free portfolio analysis investment advice and development of personalized investment strategies to book your appointment with michael comeau at the stouffville branch please call jim hassard branch manager at 905 6404000 or dave morrison branch manager at 905 6401 372 or call td evergreen at 416 5122511 or 18003824964 td evergreen wealth management a ohhio nipsrrurilf in- td evergreen investments services is a division of td securities inc which is a subsidiary of the toronto dominion bank member cipf project initiation notice class environmental assessment proposed ballantrae golf country club residentiaugolf community part of lots 21 22 23 concession 8 eys town of whitchurchstouffville ballantrae the regional municipality of york schickedanz bros ltd is undertaking an environmental assessment ea for communal wastewater servicing for the proposed ballantrae golf and country clubresidentialgolf community the study will follow the municipal engineers association class environmental assessment process schedule a approved development plan schickedanz bros ltd proposes to develop 750 to 900 residential condominium units and a championship golf course on a 370 acre site the site is located north of aurora road east of highway 48 and west of the ninth line see plan a hydrogeological investigation and wastewater servicing options report was undertaken during the feasibility testing stage of the project and revealed favourable conditions for communal wastewater treatment the class ea process approved development plan will be undertaken concurrently with the planning approvals process a public information centre presenting the preferred method of communal servicing for the ballantrae golf and country club will be held at the ballantrae community centre from 2 pm to 5 pm and again from 7 pm to 9 pm on april 1 1997 the public will have an opportunity to review and provide input on the preferred method of servicing in addition a community information meeting will be held during the evening and will include a presentation of the development and provide the public with an opportunity to meet the people involved with the project a statutory public meeting to gather public input will be announced at a later date concerns pertaining to the project should be submitted in writing to bob forhan jr mcip rpp project manager the forhan group unit 6 110 pony drive newmarket ontario l3y 7b6 t 9058950011 f 9058950070 schickedanz location plan iwxv f lake v 1 1 ftiucoeu j v vsrra yt ttcushv 5 2 o idta t z7v9ia ow ys yl xx 3roonro futssrtsauga lake ontario w ay key map nts