The Castlegar Sun

‘vision, ‘issue invoices to the ‘com-"
« Pany ¢ and receive cheques, I have no
in ‘benefit

ploy or. .self-employed
depends on each case, there.are no

absolute rules," said Elio’ Luongo,

\ senior tax t with Peat Mar-

plans and work at home or in‘ ‘an
office away: from the ci

580 you'can Bet: ‘a muling, from Rev-. |
’ enue’ Canada\s, You ‘save fax if you
k are Se naea “but if you file

d and later are

is quite likely R
would: consider you .

wick Thome;
tants, Here ‘are some guidelines,
7 which apply to all individuals;
Ifyou work a set:number of
jours each day, account for your
time to the ‘company, are told'on a
regular basiswhat to do and’ how

do your work, belong to compa- -.

y benefit plans and have an office

. or workspace ‘at the, company, you
dre probably an employes, aye

But if you set your own hours,

‘work'on your own without super- ,

BRILLIANT RESCURCES LTD.

PETROLEUM CANADA

‘We provide more than just fuel.’

© ask us about our convenient budget plan

© automatic fuel delivery service

© over 50 years of serving the West Kootenays

© prompt dellvary

© complete furnace repalr & maintenance
service - 352-7565 or 365-7838 ©

© VISA and MasterCard accepted

NELSON
45 Government Rd.

352-3713
CASTLEGAR
2201 = Gih Ave,
365-5185

:
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3
3
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ty cult Gee Siu tnte

ry you

\Here, from, Hongo. are, ‘some of «|
5 bein

j “For example,” said Luonge,,

“Revenue Canada allows real
estate brokers and salespcople.to
be considered self-employed in
two main situations:

“One. Under your contract you
are entitled to the’full amount of
your gross commissions and pay a
‘realistic’ fixed amount to your
broker on a monthly, annual or
other basis for administrative and
operating costs.

“Two. ‘Under your contract you
are entitled to the full amount of

your commissions and pay your
broker only a Percentage to cover’

costs

+ when .you'mu:

your yenr-énd, heh ‘det pay mor

tax‘on your Self-employ

», For example, .{f you, started : in’
business this year and d choose’ Jan. |}
31,1992, ‘as your, year-end,. you | |:
will report all the income ‘eamed
until Jan, 31, 1992, on your 1992
tax return. That means you pay no
tax.on your 1991 income until
April, 1993. :

Deferring tax usually makes
sense. Just be sure you have
money ‘set aside to pay that
deferred tax bill when you quit
work or otherwise have a’ low/no-
income year. Also, choose your °
year-end carefully as’ you will
need Revenue Canada's permis-
sion to make any subsequent
change.

NO UIC BUT MORE CPP.

= but you set ae own commission
fate for the sale of your listings.”

If. you're not sure ‘whether you
are an or

As a self-employed individual,
you do not have to pay UIC pre-
miums. But you will have to pay
both the employer! 's and employ-
the CPP premium.

talk to your financial cae and

To Randy Davis, €

wy Emle Turta

"and Staff:
= Thank you all for your -
extra special efforts in

s. making our Christmas

Staff party a huge
success!

Merry Christmas!

Best wishes in the
New Year!

THE SINGER ‘DEBUTANTE’
MACHINE

model 5805

Several stitches Including
blind hem and overedge PAZq

© easy threading system
© brighter built-in sewing light
© bullt-in buttonholer
© free-arm for sewing cuffs and sleeves
three needle positions,
- left, center and right
© built-in carrying handle

DIFFERENTIAL FEED

inger's most popular overlock machine. For that fy
professtonal finish it sews 3-thread overlock,

ULTRALOCK i

flatlock and wrapped edge stitches plus 4-thread
ultra stretch mock safety stitch — all at 1300
Stitches per minute. This model comes wilh
differential feed, and many other features to make
sewing easy — plus a price too good to miss.

. #14U32)

© ULTRALOCK MACHINE '

3. thread overlock and flat lock stitch.
Simullaneousty edge-trims fabric as it sews.
+ High speed overedge sewn Sews up to’.”
1300 stitches per. °
"minute. Exclusive

ee’s

DEDUCTIBLE EXPENSES.
You may claim virtually all.the
expenses that an: employed com-'’
missioned salesperson may. claim
(see list in last week’s column) -
plus several others.

For example, if you buy your
cellular phone, computer or other
office equipment for business use,
you may claim the interest if you
borrowed and capital cost
allowance (depreciation), breaks
which employed salespeople miss.

If you own your home and are
claiming home office expenses, you
may claim a share of
the morigage interest - again, a
claim denied to employed salespeo-
ple. You may also claim deprecia-
tion, but most people skip this as it
imperils part of the principal resi-
dence capital gains exemption.

THE GST? If you"ate*self>

employed and%arn more than
$30,000 a year in gross commis*

“sions, you must register for the

GST.. You must charge the com-
pany GST on your commissions,’
and keep track of the GST you pay
on business expenses because you
-may then claim an input tax credit
~ which means you get back the
GST you pay. As long as your
gross commissions are less than
$500,000, you may file your GST. §
teturns annually although you
must still pay auarterly GST
instalments.

aye tot the money §
“2" for the show
Aring from Annie’s
is a sure gol!
é Diamond rings on sale
Bagy Lobby-Fireside Hotel

365-2128 |

eke Michael
Steak, Seatood and Prime Rib
Waneta
Junction 3

“Hwy. 3B q
"964-2112

“Free

‘Little did Laural Webster

imagine as she addressed
her tee on the third green

at the:Castlegar Golf Club,

that.she was ‘but a swing
away from a trip. half way

“around the world to Hong

Kong, courtesy:of Canadi-
an Airlines International:
The contest was part.of

«the Selkirk Aviation Gradu-

ates Association. first-ever
reunion weekend held:last
fall. Webster, who aced

‘the 120 yard sHot with a

five iron, received her

‘prize from Time Air repre-

sentative Ron’ Armbruster

sandDale: urate Soli

‘College. ‘Foun

: utive director.

Wednesday,December 11,1991

The Castlegar Sun.

Page 7B)

PEPSI & 7UP, Reg. & Dist
SCHWIPS

| GINGERALE

Plus
Deposit

‘2 Litre.
Limit 6:
Overlimit
Price 1.28

FRESH BAKED

BREAD

White or 75%
Whole Wheat.
Unsliced.
454g

for

RESERS PEPPERONI
& COMBINATION:

PIZZA 9 9

2 per
package.,
964 g.

BULK
MANDARIN
ORANGES

2.18/kg. lb.

BULK CHOCOLATE
CHRISTMAS =~)

CANDY { e)

per 100 g.

ALL CHRISTMAS
WRAPPING
PAPER

‘SETS:

GALA 21 PIECE

REGULAR Se

CHRISTMAS a ¥ 4 3/

CANDY
per 100 g.

[ALL WALT DISNEY DISNEY
MOVIE

CLASSICS

Peter Pan,-> -
' Rescuers Down Under

BLACK MAGIC &
DAIRY BOX |
CHOCOLATES

454 g.

ALL

GLASS f{*
BLASTERS

ALL

CHRISTMAS
LIGHTS

PORK SHOULDER

BUTT 1 39

FROM OUR BAKERY

ASSORTED | Y, 49

680 g.

AVOCADOES

3.99

ROAST
NALLEY’S
BOXED CHIPS.

PIES :
NALLEY’S

CHIP DIPS

ALL CRYOVAC
MEATS
IN OUR DELI CASE