Fred Chipman, Corporate Secretary for the Acadia Cinema Cooperative Ltd (ACC) has been busily arranging a new Equity Tax Credit registration. It begins on July 1, 2011 and will be in place until February 28, 2012.
The Equity Tax Credit gives Nova Scotia taxpayers a 35% non-refundable tax credit on share purchases. Shares purchased during this period will go toward our “Sink the Mortgage” plan. This is the third year of our three-year plan, which has encouraged new and old shareholders alike to purchase at least one share for three years running to help sink the mortgage. Every share purchased brings the Coop closer to the goal of retiring the mortgage. Every share purchased makes a difference. When the Cooperative initiated “Sink the Mortgage” in November 2008, ACC owed $227,000. As of July 1, 2011, the balance on the mortgage will be $132,000!
The Equity Tax Credit – that’s 35% of the cost of every share right off the top of your Provincial income taxes for this year – offers an added incentive to help the ACC reach its goal by the end of 2011. Investments in our Coop are also an investment in the cultural life of our community.
So, can we “Sink” the Coop’s mortgage during the 100th celebration year? Let’s try!
Any questions? Contact Fred Chipman.
Centennial souvenir shop
Celebrate 100 Years of Stage & Screen (1911–2011) on the site of Acadia Cinema’s Al Whittle Theatre with the purchase of Dianne Thompson-Sheppard’s charming watercolour reproductions and insulated all stainless 100th anniversary logo theatre mugs which help green the Al Whittle Theatre by reducing the use of disposable cups in the venue.
Watch for the 100th Anniversary Table at some Fundy Film screenings and theatre events throughout the year or call 542-5157 or 542- 3697 to arrange a purchase for your special occasion!
Proceeds from all souvenirs (and Share sales this year) will help “Sink” the Coop’s mortgage during the 100th celebration year.