Sy

BUSINESS

SS
as Castlegar News Merch 19, 1989

DON'T PUT
OFF TAX
PLANNING

Editor's note: Start planning now to reduce the
amount paid income taxes next year. That's the
general advice of experts, who in the following article
suggest ways of putting the advice into practice.

By SUSAN YELLIN

The Canadian Press
you thought it was over the T4s, the TSs, the
and all the other numbers and letters that only

come together oncea year

RRSI

huh
If you're smart, experts say, you should really start
ining NOW Lo enstire you don’t pay too much in taxes
xt year
nee the federal government, firmly entrenched in
breaks like the
ic $1,000 deduction on interest and dividends,
{ many ways you can save or earn money tax

\ reform, has done away with

For the employed (salaried) taxpayer, there's
us lite now that’s available," says Lyle Her
sho co-wrote With Wayne Beach, his law partner
k Are You Paying Too Much Tax?

ihe most profitable path is to buy your registered
ent sa\ ings plans now, not wait until March | of
ai, Hepburn suggests

If you buy them today, the tax-free interest that
unds year after year can earn thousands of

when it comes to retirement. And the

ryou are, the be(ter
GOFOR MILLION
Pirtires tr troval Hrusteo indivate that tt you were
to put $2,000 a year in your RRSP at the beginning of

more

ax year, carning 10 per cent annually, you'd end
h $975,704 after 40 years.
That's about $90,500 more than if you decided tc
ntil the deadline each year to make your con.
n
Some experts advise borrowing money to pay for
RRSP, paying back the loan as soon as possible
But David Ingram, an author and Vancouver con
1, Says the worst thing you'can do is buy an RRSP
you're already in debt
RRSPs for most people are a fool's game,
says
Piling interest charges from RRSP loan on top of
rates from credit cards or mortgage payments will just
plunge you further into debt, he says
Instead, Ingram suggests paying off the mortgage
With rapidly escalating house prices in mdst parts of the

country, the paid-off home will probably be worth more
than stashing away.money for an RRSP.

There are some other tax-saving methods for
families, including Various forms of income splitting,
says Mike Grenby, a Vancouver financial adviser

The purpose of income splitting is for the person in
the higher tax bracket (o pay the bills while the family
member with the lower income does the investing and
pays less or no tax

For exar le, you could put your child’s baby
bonus cheque to an account inthe child’s name. The
interest will be taxed in the child's name and since
) enough to pay tax, an in.
eto be filed
The government payments are still taxable to the
it’s the interest or dividends the money earns
that belong to the child, Grenby says

Or, around the time your child is 15 money can be
put into a'three-year term deposit or a Canada Savings
Bond. Interest must be declared either every year or
every three years — in this case, it will be in three years
when you child urns 18

That's wheft the interest or dividend can be collec
ain, the child's earning power will likely
be small and he probably won't have to file or declare it

children don't usually

come tax form doesn't even h

parents

ted, and once aj

“Not only that but if they're going on to college, by
the time they pay their fees and deduct tuition and other
expenses they car, deduct, they will pay little or no tax,””
Grenby says
FEWER METHODS

Revenue Canada and the courts have clamped
down in the last few-years, eliminating some income
splitting techniques for couples.

Now, in many instances, income trarisferred or lent
to a spouse is attributed back to the lender, Hepburn

But spousal RRSPs have so far escaped the gover
hment ane

If you earn more than your spouse you can put your
money RRSP, writes author Brian
Costello

You-stitt- get-yourtas deduction, but the money.

compounds in your spouse's name

into a. spousal

There is a slight catch: Revenue Canada says you
have to wait three years before collapsing a spousal RR
SP; otherwise you will have to add contributions you
made to the plan to your income the year the plan ‘is
cashed

WAY TOWIN

But where income splitting really pays off is with
the self-employed, says Hepburn

A self-employed taxpayer who hires a spouse or his
own children can deduct their salaries and split up shares
so dividends are given to those family members.

They can therefore accomplish significant in
come splitting just allocating dividends to various
family members,"" he says.

Grenby says that while the pickings are few for
saving on taxes, taxpayers should go for those that are

available

Ballard not
business

respected,
poll says

TORONTO (CP) — A new poll
Harold Ballard, owner of the
Maple Leafs, as the Toronto

man least respected by senior

Conrad Black won the
car and finished second in the
ll

acl Marzolini, president of In
vada Research, said the list in
ople who have given business

ame or have been a source of

rsy during the past year

‘In Ballard’s case, I think has has

done both,” he said

Insight. Canada interviewed. 300

executives who are members of the

Metropolitan Toro Board of

Trade

The poll was done for the
Metropotifan Toronto Business Jour
nal, an arnyot the Board of Trade

The QWestion was totally oper

ended,’’ Marzolini explained

We just asked who, in your

opinion, is the least respected business.
person in Toronto

The poll was conducted in Decem:
85-year®ld Ballard
John Brophy as coach of the
Maple Leafs, Marzolini noted

Insight Canada also asked business

ber, before the
fired

people to say who is most respected in
business

Brothers Paw and Albert Reich-
mann, who control Olympia and York
Development, came in first, as they did

last year

Weekly stocks

RONTO(CP)— A new wave of
strate worries f
Wall Street de

sharpest. d

price
their

and Toronto followed

to Stock Exchange's 300
ndex plumejted 37.34 poin:
3614.32, a drop of 16.89

average of 30 in
49.64

lunged

points tc
or its biggest point decline
mbled TOT.46 last Aprit 4
ttthe average with a net in.
93 points from the previous
p came atter the b
wrted February's produce

for finished goods rose a

S. gover

age point.— about twice

NEWS
fd

iene 8c

R

ADVE!

the amount traders had expected

AS prices of tong-rermy goverment
bonds fell, rumors swirled that the
Federal Reserve would tighten credit in
an effort to restrain inflation

The intensity of activity in the stock
market was heightened by the so-called

ripte witching hour,” a quarterly oc
casion when the last trading occurs‘ a
set of expiring options and futures or
stock indexes

The result of all the economic news
was a non-stop economy, said Miriam

Varadrot Nesbrtt HronsenDedeon

anything that the market

white.**

has been
wanting for-quitea
In Toronto, decliners outnumbered
advancers 493 to 240 with 369 un
changed on 24,001,318 shares traded
worth $346,202,204
Only two of the index’s 14
subgroups were up: gold and silver
rose 0.11 per cent and pipelines were
rginally by 0.03 per cent. Kinan
cial services

upn
led a string of decliners,
followed by in

val products, down 1.60 per cent

off 1.97 per cent,

and reat estate, ott f Sper cent

Newspaper empire

NETWORK MARKETING

The Business of the Future

GNNOUNCES Merger | = 2!2:2228 m0

TORONTO (CP) Two
newspaper-based conglomerates con
trolled by Ken Thomson and his family
have announced they ‘plan to merge
operations into a giant media com:
pany

The merged company. would be
called the Thomson Corporation, with
a head office in Toronto and an
executive office in New York City, the
companies said at anews conference.

The merger will take place only if
approved by most of the minority
shareholders in each of the two com
panies, Thomson officials said.

The Thomson family controls about
61 per cent of Thomson Newspapers
Lid., which publishes 40 Canadian
daily newspapers and about 120 dailies
in the U.S., and about 74 per cent of
International Thomsbn Organization
Lid., with newspaper and other media
interests primarily in Britain and the
United States

The companies expect to have a
detailed proposal on how to carry out
the mergér within 30 days.

UTHLIZES POTENTIAL

“The merger will capitalize on the
unique strengths of
Newspapers and International Thom
son-to-buitd a combined organization
with even stronger*foundations and
better future prospects,”” Ken Thom.
son, chairman of both companies, said
inarelease.

Thomson

Chairman
to net
millions

NEW YORK (AP) — The proposed
$18-billion US merger between Time
Inc. and Warner Communications
Inc. will land Warner Chairman
Steven Ross nearly $50 million if he
exercises stock rights under his em.
ployment contract, the company said
in a filing with the Securities and Ex
change Commission. Ross will receive
a salary of $800,000 a year and a share
of the profits in the merged company,
Time Warner Inc
Richard Munro, who, will be co
chairman’ of Time Warner with Ross
fortwoyears; wittreceiveatteast $145
tittion in annuat satary and-bonuses;
Time spokesman said

Time chairman J

~ Awoy to Financ!
‘Set your own hours and poce
JE INFORMATION CALL

FOR MORI
226-7694 COLLECT

Alter

Together the companies employ
more than 40,000 people of whom
5,700 are in Canada. No jobs will be
eliminated in the merger, officials said

Complete Electronic Publishing
‘and Design

Public FAX Service
E «Jag 365-2124 Oe =

, business or penonal
Y conndeniiol erie

advertising material
annual reports’
catalogues
portfolios
manuals
slides

world-wide fax

7 tend oF tecenve

Open Monday “"Fiday am 5
above West's Dept Store

strong & Auociates

hd site 208 $1215 3 St

Box 3880 Coslegor. BC VIN 3W3

CALL PAX: (0a) 3662124

DID YOU KNOW
BEL-AIR CLEANERS

Is now located in the
CASTLEAIRD PLAZA
With over 35 years experience

in the Drycleaning Business

# Visit our laundromat. - - located next door
@ bright new look... with additional machines |

BEL-AIR CLEANERS é

tleaird Ploza * 365-:

Parents & Taxpayers
| encourage you,
Urge YOU,
To Be ACTIVE.
OUR Children's Education is
worth it!

— TONY GUGLIELMI

ax.
School Trustee, 365-6442 Ne IN

i aeidiiianddeeeaiieesmmeameiinemaiiaaae
ACTIVITY PROGRAM FOR 3-5 YEAR OLDS

Early Childhood Education students
have planned an exciting playgroup program
for Tuesdays and Thursdays, March 28-April 20
from 9-11 a.m. at Selkirk College, Castlegar campus
Call Madelyn MacKay at 365-7292, local 315
on Mon. from 9-4 p.m. or Tues. from 1-2 p.m.
Celkirk 6% ———CASTLEGAR CAMPUS

alle’ e Box 1200, Soonteger, 8 C. VIN3JI

Gary Fleming
Dianna Kootnik
RTISING SALES

The market is still pointing to an 2
overheating economy, higher interest ontreal Fy €
rates and testy inflation,’’ Varadi said

NOSLOWDOWN
nothing to

3 points to clos:
F o close

There's
business slowdown and a lowering of

interest

suggest a

rates, which would suggest 4.46 points Friday, ¢

PAINTING &
DECORATING

gag FOURTH AVENUE
CASTLEGAR
vin 2s!

off
AM. FORD SALES LTD.
TAL OC Ve aT

364-0202

of 10 points on the week

Jian markets, the
portfolio dropped
at 1788.99, a drop
The Van

Stock Exchange had a 25.47.
point los\on the week after dropping

losing at 808.86.

Easter

Carl's Drugs

Cotorinc Contest

NAME

ADDRESS
AGE

PHONE

Easter Coloring Contest Rules

to 6, and Age
Entry deadline is 5 p.m. on Thursday

© Contest is open to children in two age categories: Ages 4
to 10

Children may enter as often as they wish, but can win
only one prize. Decisions of the judges will be final!

BRING YOUR ENTRY TO

CARL'S DRUGS sz:-~"

March 23, 1989

WIN PRIZES

AGES 4-6 — E. Bunny & Co. Plush Bunny
($19.95 Value)
AGES 7-10 — $20 Gift Ceriiticote

Sree

March 19, 1989

NOW AVAILABLE
PROFESSIONAL

TAX PREPARATION SERVICE

UNBEATEN IN 12 AT HOME

Canucks

VANCOUVER (CP) — Petri Skriko scored on a well
placed Wrist shot seven minutes into the third period Satur
day to lift the Vancouver Canucks to.a2-1 victory over the
New York Islanders in a poorly played NHL game

Skriko’s shot from the right face-off circle looked like
it was fired out of a rifle. It caught the top left-hand corner
on goaltender Mark Fitzpatrick’s stick side for the Finnish
winger’s 29th goal of the season

Trevor Linden had the other Vancouver goal, while
Tom Fitzgerald gave the Islanders a short-lived 1-0 Jead in
the second period.

CANADIENS 7 PENGUINS 2

PITTSBURGH (AP) — Mats Naslund scored three
goals, Bobby Smith had a goal and four assists and goalie
Patrick Roy ran his personal unbeaten streak to 13 games as
the Montreal Canadiens routed the Pittsburgh Penguins 7
.

Pittsburgh's" Mario Lemieux, the NHL's leading
scorer, missed his second consecutive game with a groin
injury.

The Canadiens succeeded on all three of their first
period power-play chances. Naslund opened the scoring at
4:38, ripping a shot past Tom Barrasso from the left circle
at 4:38 for his 30th of the season:

NORDIQUES8 RANGERS 3

QUEBEC (CP) — Peter Stastny scored three goals and
added an assist to lead the Quebec Nordiques to an 8-3
blowout of the New York Rangers

Stastny completed his second three-goal performance
of the season on a dash down the right side that he finished
by sliding the puck under Rangers goaltender Bob Froese
with 4:03 remaining in the third period.

Marc Fortier, Walt Poddubny, Ken McRae, Michel
Goulet and Anfon Stastny each had a goal and an assist for
Quebec

CAPITALS8 WHALERS 2

HARTFORD, Conn. (AP) — Dino Ciccarelli had his
second career four-goal game and added three assists to set
aclub record with seven points in a game as the Washington
Capitals hammered the Hartford Whalers 8-2

Ciccarelli, who scored twice in Friday's 4-1 win over
Montreal, scored from the left post at 1:29 of the first
period, added two more goals in the second period and
completed his offensive blitz with a rising slapshot at 13:52
of the third period

Mike Ridley, Geoff Courtnall, Michel Pivonka and
Dale Hunter also scored for Washington

BLUES3 WINGS2

ST. LOUIS (AP)— Brett Hull scored his 38th goal of
the season 20 seconds imtethe third period to give the St
Louis Blues a 3-2 victory over the Norris Division-leading
Detroit Red Wings

The victory was the first for the Blues after three losses
and two ties against Detroit this season-and cut the Red
Wings’ lead over second-place St. Louis to eight points with
seven games |left in the regular season

Hull scored his sixth winning goal of the season, con
verting a setup by Peter Zezel and Sergio Momesso. Hull
has scored at least one point in his last 11 games.

The Blues, who won their third straight game, outshot

e
the Red Wings 37-14, but Detroit goaltender Glen Hanlon
kept his team in the game with 34 saves.
JETS 10 LEAFS 2

TORONTO (CP) — Dale Hawerchuk collected a goal
and five assists to lead Winnipeg to.a 10-2 victory over the

Toronto Maple Leafs and keeping the Jets’ slim playoff
hopes alive in the NHL’s Smythe Division.

Trailing 6-0 going into the third period, the Maple
Leafs scored twice to momentarily narrow the gap.

Daniel Marois finally got Toronto’ on the scoreboard
at-2:19 before Tom Fergus redirected Wendel Clark’s
goalmouth pass under Bob Essensa at 5:34

That would be as close as the Maple Leafs would get as
the Jets responded with four goals.

Fredrik Olausson, with his second Of the night, scored
on the power play at 7:42 to give the Jets a 7-2 lead.

Thomas Steen also had a big night for the Jets, with
three goals and two assists, while Paul Fentort, lain Duncan
and Olausson each scored twice.

BRUINS6 FLYERS 3

BOSTON (AP) — Randy Burridge scored his 28th
goal just 53 seconds into the game and Greg Johnston ad
ded two as the Boston Bruins beat the Philadelphia Flyers
6-3

The Bruins followed Burridge’s goal with two power
play scores to lead 3-0 at the end of the first period

Rookie defenceman Greg Hawgood banked in his 1Sth
goal off a Philadelphia stick at 4:08 and (am Neely got his
36th goal at 15:53

Johnston increased the Bruins’ lead to 4-0, converting
Bob Joyce’s pass at 4:53, as the (wo broke in together on
defenceman Kjell Samuelsson.

BLACKHAWKS3 DEVILS 1

EAST RUTHERFORD, N.J. (AP) — Wayné Presley
scored 4:53 into the third period and Alain Chevrier stop:
ped 38 shots in his first game against his former teammates
as the Chicago Blackhawks snapped a seven-game winless
streak with a 3-1 victory over the New Jersey Devils.

The loss was the fourth straight for the Devils and gave
the Blackhawks a 1-5-2 record in their last eight games as
they look to nail down the final playoff spot in the Norris
Division.

Presley broke a 1-1 tie with a fluke goal. He took an
off-target shot from the left faceoff circle and it deflected
past goalie Sean Burke after hitting the skate of Devils
defenceman Randy Velischek.

NORTH STARS 3SABRESO

BLOOMINGTON, Minn. (AP) — Jon Casey made 27
Saves to record his first career shutout as the Minnesota
North Stars defeated the Buffalo Sabres 3-0 in an NHL
game.

It was the fifth straight victory for Casey, the longest
winning streak of his 95-game career

The North Stars,°3-1-1 in their tast five games, wor
their second straight for the first time singe early February
Ming broke Buffalo's four-game unbeaten
streak

Mike Gartner and Dave Archibald keyed a second:
period spurt, as Minnesota took charge by scoring three
goals on their first four shots of the period.

sota~ also

CLOSING THE GAP . . . Sandman Inn goalie Dan Wallace
Cc

from @ Woodland Park Shell thursday

1s ready to stop a shot

action at the Complex: The two teams battled to a 6.
the league title Monday. — cosrews photo by Nick Allor

| Hockey League

tie. Sandman faces Hi Arrow for

=-

2 p.m. and 7 p.m.

CasNews photo by Nick Alton

SAFARI ON ICE

Tigers glided around the Castlegar Community Complex ice Saturday as the Castlegar
Figu @ Skating Club presented its African Safari. The tigers, as well as monkeys,
zebras, birds, and a few Tarzans and Janes, entertained audienc:

in two shows at

s! ‘
. HH

i

Jays dump Mets

as tempers flare

DUNEDIN, Fla. (AP) Darryl
Strawberry of the New York Mets
and-Kelly-Grirber_and Jeff Mussel
man of the Toronto Blue
ciccted Saturday from a spring train
ing game punctuated by three bench
cicaring incidents.

The Blue
with two out in the bottom of the
ninth when Rob Ducey slammed a
Randy Myers
man Howard Johnson had

Jays were

Jays won the game 7-5

three-run homer off
Third bas«
committed a throwing error on the
previous play to extend the game
The game was far-from the-usuat
placid variety of

spring training

action. Both teams, favored by many
prognosticators to win their, respec
tive divisions, played for keeps

The chain of bench-clearing events
began in the fourth
Mets starter Ron_Darling hit Jesse
Barfield in the back with a fastball
Barfield
the sccond
toward Darling before being restrain
ed

inning when

who'd Hit a solo homer in

inning. began walking

Both benches and bullpens emp.
tied on to the ballfield, but no pun
ches were thrown

With Toronto up 4-2
hit Darryl Strawberry on the small of
the back with his first pitch of the

Musselman

sixth inning and Strawberry reacted I'm no
Musselman, a d ht ‘
Catcher Pat Bord

behind or

by rushing the mound rt someboc
former high school quarterback and.
New evaded Straw

berry with a nifty deke

Jersey resident
he mound and p
I didn't know which way to go Third basemen Gru

said Musselman, entering his third he same

year with Toronto. ‘I've never been
in a situation where I've had a guy

coming after me

L.A. edges Expos

WEST PALM BEACH, Fla. (AP c laced M
Mickey Hatcher ome Mike

Sharperson in the 11th inning, gis

ngled |
the Los Angeles Dodgers a 2-1 victe
over the Mont
ame S.

Expe
exhibitio
Los Angeles raised
Montreal is 4-9-1
Hatcher
Baller, the f

off Jay
pitcher inthe game, whois 0-3

Tim Crews, 2-1, pitched
10th inning to earn the
Munoz -pitched-the Hth for the save-—up hits 10 the firsrwe
Los Angele Ra Mar gle by Ma
gave up two hit ve scoreles ng double

Martinez a w s r ¢

walked one and s|

nings

CRHL title game Monday

By CasNews Stalf

Sandman Inn and Hi Arrow will
face off Monday for the championship
of the Castlegar Recreational Hockey
League

Sandman knocked Shell out of the
running in the round-robin playoffs
Thursday with a come-from-behind 6
tie

Hi Arrow
Wednesday

If tomorrow’s final game ends in a
tie, Hi Arrow would get the nod as
1988-89 CRHL champs based on the
team’s record against Sandman

Shell jumped out to a 3-0 lead Thur
sday on two goals by Chief Mercer and
a single by Murray Pearson with the

doubled Sandman 4-2

game just 1] minutes old

Bruno Tassone assisted on Mercer's
first goal with 2:40 gone on the clock
Mercer scored again with 12:54 left in
Assists went to Wayne
Kinakin then

the period
Kinakin and Pearson
assisted Gn Pearson's goal with 9:02
remaining inthe first

Randy Martin got Sandman Started
with 7:40 left in the period with a goal
assisted by Dave MacKinnon and lan

Stewart

Shell regained a edge
when Tassone put one behind San
dman goalie Dan Wallace with 4:15 left
in the first. Kinakin and Mercer

three-goal

assisted

Sandman’s Frank Costa closed the
gap to 4-2 with an unassisted goaLwith—
1:30 left on the clock

The second period was all Sandman
Peter Tischler started the comeback
with an unassisted goal at the 1:53
mark. Stewart tied the game for San
dman with 15:21 left in the second
Costa and Bob Essaunce assisted

That was all the scoring until the
third period when Shell’s Pearson put
his team ahead S-4 with 11:30 to go in
the game. Assists went to Tassone and
Mercer

Barry Streliev tied the game again
for Sandman when he beat Shell goalie
Barry Grunerud with 9:08 left assisted
by Bobby Larsh and Martin

Tischler_assisted by S'  v_put
Sandman into the lead for the .as< time
in the game with just 2:30 left on the
clock

But Shell's

Wes MacPherson

Salvaged the tie with a goal just 50
seconds later. Assists went to Tassone
and Martin Sander

Wednesday's game was a tight
defensive struggle with Sandman’s
Tischler and Hi Arrow’s Bill Nazaroff
trading goals in the first period. Duane
Weir and Martin assisted on Tischler’s
goal with 14:28 to go in the first while
MacKinnon got the lone assist on
Nazaroff’s marker with 3:02 left in the
period.

There was no scoring in the second
period

Inthe third, Clay Martini assisted by
Chris Brogdman and John Obetkoff
put Hi Arrow up 2-1 with 11:53 left in
the game.

Sandman's Mackinnon got that one
back just 47 seconds later. Essaunce

got the only assist

Martini scored the winner for Hi
Arrow with 3:08 left on the clock
Obctkoft and assisted
Nazaroff then iced the game for Hi
Arrow with an empty-net goal with HH
seconds left. Mackinnon and Rod
Zavaduk assisted

Brodman

WINNIPEG (CP)
has struck down the $8,000 award a femalc
player

The provinte's highest court
softball
summer for suffered

received last injuries

when a male base runner slammed into her

In, a unafiimous decision, the Court of
granted the appeal of the Manitoba Publi

softball

Appeal
Insurance
Margaret

Corp. and ruled against player

Tempk

Mr. Justice

provide

Joscph O'Sullivan said he would
written reasons later, But during a recent
O'Sullivan
lawsuit should never have gone

They (players) are
running as hard as he can, who sees a catcher eatel
a ball, he

accident

hearing into the case Temple's
ahead

consenting to a= man
slides and there's an unfortunate
the judge said

If the

cluttered up with everybody

But there's ho suit world would learn

this. we wouldn't be
suing cach other

Temple, 26
Hallem, 36, slid into her
decision

who suffered injurics when Tom

would not comment on the

Winni
Ce

South
1995
ly

ew aarele

wus for

l

Rough play not.
worth a lawsuit

Witt
pee, bw

End Mixed Softt
a decision that a
Canada, a

4 Femrpte $8,000 aft
1 fun leagu

on behalf

judgen
PI
besicn!

guard

vent
Ivers, Tea
ed him with cal

Awainst Similar lawsuits