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CrlESLEY»-Farmurs as mac producers. are in the most referable positron anion; usincsses aflzctcd by me {weal government's new Goods and Services Tax (CST), “Zero rated" under tho new lav. scheme. runners are ahir: LU tile for a refund Uii any CST paid out on items used in the produc- tion of food. “When mi; all lint [Lime out everyone wztnusd in i)‘ exempt“ and Colin Reason iarrn busincs; advisor at the Markdaic oiitcc of thc Ontario Min'mry or Agncuiv tum and Food (OMAF‘). However, Rccsor laid about 103 area farmers at Grey-3mm Farmers‘ Week, Sheep Day. January 5, that zero-rated businesses have an advantage over those which are exempt from charging ilic taxi Landimds‘ l‘nr exemplar cannot charge 081‘ on rent received. Howevcr, they pay the full seven par cent tax on items lor repair and renovation of rental propcr~ ty. “A3 a fannur. you have an advantage over consumers and landlord: in that ynu can file for this tax buck.“ Naturally. the break does not appl to furthers who an also ian . said Reesor, Farmers are also allowed to sell land to relatives. for perâ€" sonal use. without wiizcting GST, ’ water fivafnugc for dinner: is many 0 their major pur- chase! tail into the category of inflch exam 1 {mm 051‘. mm implement: bulk purchw-a of fertilizer. need: or lnimll {and are all exam. Reese: mid. Rector mm a few groans when he said veterinary products. both services and MEI. Ire taxable. Puma: Inn'l Main their dislike of ll! Appficntlnn of the.. ‘."" F‘!‘ ' Hor‘tiecor’ft'ing’wi' Au.» EST DISCUSSIONâ€"Colin Reason fight. OMAF Iarm businass am talks Willi Wayne “Via: don't like it eithu. because when they have a bad debt. they not only have the bad debt. but CST on the dch" Application of th: lint creams several ironic situations for farmers. Rm Bid. For exarnpla, nature undcl 60 horsepower are taxable. while tractors wim over 60 horsepower are not. 't‘itcrcfore. il' a farmer was trading in I 50 horsepower tractor for a 65 homepowcr machine. he would charge the ME 051'. but would not be charged GST an his own pur- chase. Also. while farmer can filo for ,Ms CST refund immediawa Iliarpayingthetuonapm ALL DRESSED FOR HOMEOOMING '91 n llmllad number at collector edition mine u the III. 315 min: and modelling their Hamming garb murmur. and Dobbin Elm. (Wasainit photo) Farris, left, of Maxwell and Ross Taylor, at Holstein, after his presentation on ma Goods and Service: Tax at Grey-Bruce Farmers‘ Week Sheep Day. January 5. (Rama photo) [WA chase, they have until )wcnd to pay the gowrnmcnt for any GST they collch "ll you happen to sell something on which you collect GST,youcan mat itasaloan [mm the federal gavemmenl. Just be sure you havc the money when the time comes to submit tL“ Eva: thou h fanncra dining lust that $3 .000 in buaincsa annually do not have to mgistar for the GST. Recsnr remin- mcnda it. in order in b: eligible for refunds » The bookkuping aspect oi the CST in a majcrr oonocm at faunas. many of whom run ll through _: y , ,ifl'The PST «(I thcir [arm books, than scparntc thetwoattheendufdteyear. snldkmtm Whilceach farmcrwill adjust his bookkeeping systntn to best suit his needs. Rm said he recommends filing monthly or‘ MalyfirGSTnbnmm mutually. in this way. a farmer's cash Howls notdeuup along. Despite the initial confusinn. Remorsaidhabciicvathcux to be an improvement on the forum federal sains tax. which wuhnied‘lnthccostol‘iwms altheruailievd. “" t.§msladit'ugm“t ' . 1 -r‘ . ., -WaIit-nun's Wm ’91 million toiling cinch! Murat m mmnmnmmmmt