we

Family Farm Business” oe Shep Thurdey ond Fidey ~ Arra ngements Are Ideat arply | ee ee

Management Specialist | er your | death. The making ots a |tory of your vale. not just of a

ward Island's. birth rate show-

(Farm f °~P. E. t Department of Agricel | will is ‘Ymost important it’ the | farm business but personal worth large _ ture case of all-farm operators .and | aswell. _ This ates such Sheets eT eae ae eer Hewean Sk It har been said that the far- especially if one or more sons things as stocks, bonds, life in*| minion Bureau of Statistics re- “mer of today produces enough/ are engaged in farming with the | surance and so on. -With farm ports. . ; A food to feed himself and thirty | father and other children in off-| size’ increasing, capitalization |, the énd of September, the “other people.# Mechanization, | the-farm occupations. — increasing and personal worth rate was off 19.6 P eonut treaa *_ the results of research and other Sate sons, in fact. spend a| getting larger, many thousands | 1, tres year inal and was ‘Saguch practices has énabled nim); “oftheir —working | of ‘areinvolved.— ‘Many down 143 per cent from the f- 1e T —— $¥o-do-this-with-a-reduced abhor | life on the farm and ting | people are not awate of the €x-| sures for 1965 es ES _ Z force to the point that labor, or| the farm only to find at the -fa-|tent that estate taxes have on eee = rather the scarcity of labor, has| thers death, no will has been | their estate. In September alone, births to- | Etbecome.-quite a. problem’ ¢n |made. Without a will, the estate |. Canada. Estate Tax Act| ‘alled 204 compared to 230 in | = many farms. is passed along to beneficiaries s a «deductible | September 1965 and for the nine be 8 = Perhaps one factor which’ has | aceording to the laws of the pro- | tiow’-of $60,000-if the wife sur-|™0nth period they totalled 1,662 . *- 3 eontributed to this situation on vince. This seldom is in accord-| vives and a further deductible |C°™Pared to 1,940 to the end of ? family farms is the lack of any | ance with the wishes of the de-|exemption: of $10,000 is. September last year. In Canada ; form of farm business arrange- | ceased. person. for each surviving child. | 28 4 whole, the rate- is“ off 7.8 j . gents - such things as fathre -| Iw Prince Edward Island, if | In every estate there is a deduc- cent from last yeaf and 12.9 Bd = agreements. business ar-|you die without leaving a will | tible exemption of at least $40,- cent from the average ot: ee . rangements between brothers | and are survived by a wife and.| 000 and.there is no estat eaxt on 1963 to 1965. : ; ; ‘ at and.so on. Mang} young people |two.or more children, one-third | any estate‘of $50,000 or less. The P-E.I. 4narriage~Tate_is. j have a sincere desire to farm. to|of your estate goes to your wife| Some may wish to re-| Up, however, rising to 546 thts : Hemain on the home farm and | and the remaining two-thirds is | ducé the value of their estate by | year Compared to. 527 to the end : ‘a . : Participate in its-operation and | divided. equally among the chil-| transferring a portion of the | of September last year. : agement. And most parents; dren. If you leave a _wifaand | farm asa gift to the son. Some) There were only 59 ee Paste : eras Liao a ie > —_— -the wish that their farm} one child one-half of the estate | basic exemptions under gift tax | gistered in P.E.1. ‘in ae a Lt : : : stay in the family, With.the| goes to your wife and one-half to| are allowable and if a parentledin pared to 89 : t of capital necessary to| the child. If you leave a wife | plans to transfer farm property| ber 1965. But for the . ‘ : . lish a farm unit in this |and parent but no children, the | to a son in this way, he should | months of the year, deaths tétal- ‘ ~ : y and age, there seems to be| first eight thousand dollars goes | do so over a of years to | ed 804 compared to 747, . ba oo Mitte doubt that taking over the|to your wife, of the remaining | avoid tantial gift tax. | erease of 7.6 per cent. ’ : arm affords the most desirable! value of your estate one-half; At the present time a father e@ Be, 2 = spree & teres exnersily tor the goes to the wife and one-half to| m ‘a gift of up to $4,000 age farm ~| the parent.; ~~ waae 40 Nie ous nd Film : ry ; 4 - J Re == As soon as the son has reach- | a critical factor in father-son ag- A 7 oo turity in thought and judg- | farm ine: ation and so ‘on. ‘ t, has completed his educa- aay ees at more than one farm, a -business ; ment | the ooh a should definite going to school he no doubt In the process of making a will oe the farm.

F have some responsibili- ea _soceive a wage for his

‘Island News Page S2e==2 LS oar

: Sometimes ‘The Guardian, Charlottetown, Wed., Nov. 2 1966:

asa

Summerside Rotary Club at noon

Plastic Cers ond Trucks

on January 1, makes

Storey Electric Lid livery Seaponven = 3 re

‘3 ~

Ta ILE Sturdy as ec MUSICAL TOPS é ats talc ieikataihases stab aac oh dieeecinmessie ice age hie 7 Wooden creative . toys. | EACH Cowboy on Herse “BB ]

He |

if

tawa to. take part in a two-month | refresher course on-a -vieaneggl

88"

=| Tammy Doll -

11%" teenage doll, bendable ‘body can be posed in airs ia a

For Tammy end Peppér.

“Tractor Trike

“Sturdy ~-potyetinylene construction with ~ steel axles,

Soe Seater aia CH Bae Tae oe EP re =

7 " SPECIAL, EACH 10. 99

* 7

‘han Car Set ‘Contains 14 #. ef track, over pan supports,

-\___ CHARLOTTETOWN LIONS CLUB. —©—ff tremor. 2 iy 1/m te con. Pe i A : ae __ specrat, ser_ = 93.98 | PARKDALE LIONS CLUB. . |

Donatione and collections for this “Mammoth.Sale” will be starting-on—- November 5th., and will continue until November 19th.

Persons or business firms etc., who, may wish to contribute articles, or items, any_and all types, such as: eash. Probably the simplest

way to keep ftings weights to - CLOTHES, FURNITURE, HARDWARE, . ENT: “@pen_a joint farm bank’ account a :

~ GROCERIES, NOVELTIES, ‘CHINA: ‘& SUNDRIES, — TOYS, ATHLETIC EQUIPMENT, iG.

Please wall 894-9533 between the hours of 9:00 am. : : 12:00 a.m. or 2:00 _ 2a: - 4:00 p.m: on Saturday, November 12th. Oryt? ste

SAME HOURS ON SATURDAY, NOV. 19th.

@ mess there would be with ne systematic _goreunning.

“have = clear, understanding is to how profit is determfned. ‘Yo will naturally say that the dif- ference between receipts and expenses is profit. Well, there are cash receipts and non - cash receipts, such as food consum- ed in the home: current expen- | ses such as feed, seed, fertilizer taxes and so on are no problem But depreciation is an expense. | ___—n most types of agreements, .

+ @ach- partner is paid «wage, 7

which. is included in ent ex- ~~ penses. Also, included is inter- est on the investment that each has in the business. The differ. ence then hetween totai receipts . and total expenses is‘ divided agp eording to the contribution ths each has made to the business.

As well as the keeping of re- eords requiré sound methods of handl- ing receipts and expenditures of

talkie complete with 9volt battery has 10 " geetion telescope red antenna which extends to - 46%". Strap fo reasy carryiig, about 54” x ms ent here:

16.88 8.88

&

Bale 2 in set

Sale one only

CONTINUES UNTIL CLOSING TIME - ‘THURSDAY, NOV. 3

>

many suthorities as the -most Arrangements through’ your calls, will be made for picking wp : : sperriat documenta your -your’kind contributions : so Hooton thank yeceived by your , Cheek the’8 page Citeular delivered to your door for bargain details. You ay hee eee Gheretatown and Parale Lens Cab. ee ee ee : on ® legal —_ 7 Fr a eeeei ec aveurses ciara pacharenanecant-oamedicensteceestadlipaaniccenendieepeasnandieteetxcathntnteniesaaicipeaicnteagaaaginsnn —— — a on 2 ——— - : “ors Eo ena , ih : | _