<= ERAN oe an ert aA WEDNESDAY, Fs : mpeye y old ont thoy. aren't sae Bed peereentore 7 Bin. pennety who, through volunteer efforts, has made Castlegar a better place in which to live and work, please let Bob MacBain of the Kiwanis Club of Castlegar know. ‘The deadline for nominces is March 16. Due to popular demand, demand, Critters, Crunchies and Crafts in down- town Castlegar now has a stock of live crickets. @ Start Your Own Home Based March:16-and 17. Contact the Chamber of Commerce for more info fand Getails to register. Perk up that photo Katy Biche of Pll Moon Photography has opened her studio Women in Business... The Next Step. owners, entitled Women approach. tal gain new and Looking for last min As the new mont's, first budget with the possibility the oe sent gains exemption will be cut or curtailed, many people ate look- ing at last-minute ways to use the exemption. “Tivo had 9 piece, of, nivesne property up for sale for the last several months but 80 fat, no, tak- ers,” said reader J.H. waar Pal pus 2 it for. $50,000 17 and today it’s worth $150,000. If I can't pel it before the budget, and if they take away pasa prod exemption - I've used hardly any of it so far - I could take a really big tax hit, “Tan 2 single pees, a0 can't “Is this a good idea, and if so do you have any ideas on ow to set this up?” Yes, this can be a sound By realizing your capi- claiming the par- ‘The exact tax saving will depend on your tax bracket and other factors - for example, your to claim your exemption, and whether the gain will trigger the AMT (alternative minimum tax). ‘Your main risk in all this; You will incur some extra costs by ‘transferring the house to your before it is sold, money which will have been “in if . other rules remain the capital gains.exemption and bruary 9, ute ta exemptions? Revenue Canhda about the tax 's hands Probably your biggest expense is the B.C, sega Wadi 18 unless a trust arrangement can be set up. Your daughter will have to pay the $1,500 tax, plus other conveyancing fees - costs you will cover. ‘There could be other costs you wouldn't incur if you sold the For example, you will probably want to take back a $150,000 from your to place two, the risk isn't that high. Assuming you do go ahead gage so the net reatal income result remained income and protect your position - 3 for example, if she decided to keep the house, got married and subsequently split up. Without transfer and sale, that profit belongs to her. You wilt still have to pay tax on that part of al gain which docsn"t-quality for the exemption - triggered when you transfer the house to your See GRENBY 6B There could be probl Loo back to the future That may include travel, a condominium in - the sunbelt or even a home business. Then, calculate what that lifestyle: is-likely to cost— ee cihgue ans'opns etacn clothing and ion and some extra for extraordi- ~ nary costs. If you intend to live as much as you have cent of your retirement constrained by regulated upper limits on your contribu- tions. In 1994, the ceiling is 18 per cent of your earned Use the resulting figures salary to keep up your stan- dard of livirig since costs of housing payments tend to disappear. - the initial investment you will have to transfer / into the tax sheltered plan at retirement to the snmual income that you will steed. To work our your annual contributions to your RRSP, to arrive at the lump sum you will need at retirement, you need to know how many years you will be making payments and what rate of return you are likely to get on your investments. ‘To determine the rate of retum you can. expect, look at the past long- term performance of the investments you intend to make and use this to make a-conser- vative estimate for the future. With these figures, the actual calculation of your RRSP payments can be easily done income in 1993, up to $13,500 by employers. The maximum contribution for the 1993 tax year is $12,500. So, how do you calculate how much your re 3 should contribute? To stan, try to envisi what you would like to do ia you retlne and an inflation estimate to plot annual income you will need in each year you cxpect to be fetired. It's likely that you“Will use a Regis- Income Senses tom mae = rr povlonm co wapiybetocanac wee through your Financial AdviSor using stan- dard tables or a computer program. One thing will remain in constant in any case; the earlicr you-start, the lower the-payments will be—by See, TRICKEY : a) THE WISDOM OF (GLOBAL DIVERSIFICATION. For more information, give us a call, or return - the coupon below, a ee 2 8.1% 13.5% 11.3% 11.1% “Average Anmmal Compound Rate of Return for Period Ending December 31,1993 STERLING NEWS SERVICE _— FORT ST. JOHN — When Bernie Chme- lyk decided to diversify his northern B.C. grain farm, he really stuck his neck out. He rejected such old-fashioned farming ee eae < ners a ap energy ostriches. ostriches as-ugusual pets for the last decade, Ostrich farming the ‘golden egg’ in B.C. Soe ey eee nom: Wa beced- ” Chmelyk says. “Right now, t's a beced- omannt® ap nays eatctereies’” tasty meat will hit Se Oe eT eek Peder F be equivalent to a seal cut of veal. It's very tender. It's a red meat, plus it's 80 very low in No part of the birds is wasted. Ostrich hide is used for leather products, with a tan- two breeding pairs. aid two juvenile birds, starting smaller. But the expensive birds are worth the Satine Nasties sae Sorebant in “da'and the United States. Chimelyk there are about 1,500 breeding pairs in Cana da, with numbers growing every day. “hg eng eperpnmag ome _50Q birds,” Chmelyk says. “Am acreage is were fertile, slightly lower than the desirable 70 per cent. Getting along with the ostriches may be i the most difficult part of the operation, says Chemelyk. A female will attack when someone tries Grande Prairie; costing only about a $1 day per bird. One final advantage to raising the birds is _ their limited need for space. “With 10 acres, you can probably house more than sufficient for a smaller ostrich Maximizing your RRSP A. Davies & Associates Lid. (FPC investments inc.) 1418 Columbia Ave,, Castlegar VIN'SKS © 365-0040 Name: Address: Province:__ Postal Code Home Phone: Business Phone: ce inferracin cts sheet AGF Mutual Funds te contsiged (pots an lmmtpomnent decier, manent fond Tene) opecotet or RiP Mepeors Seer hs incicmed rates of revere or the hinted ond Program, you'll be eligible to AND TO THE TAX MAN To find out more call: * And more. Many investment contribution is the smart way to options tire available. I's your save taxés now while investing _ prime opportunity to: i © maximize you RRSP apply for a one-year RRSP losa.° representative. mee ow Colma Ave. yp Geuicaet Building futures since 1940. CLASSIFIEDS SELL! CERTIFIED GENERAL ACCOUNTANTS 1 Fea 2 abt Page 5B The Castlegar Sun “Rotarians lear of progress’ ‘of major park Ry In his address, the engineer stated Castlegar was fortu- nate in ing a “river city”; that its citizens and Cc with guests from thé Kiwanis ) Club and représentatives from the city staff heard what will be the first of a number of progress reports on the development of the ‘Twin Rivers Park Project. The speaker‘ for the ing ‘was landscape engifieer Andy Gibbs of Urban Systems Limited, a firm of ‘park designers which has been retained by the city for the work. In introducing his guest, Rotarian Hugo Smecher, the newly elected chairman of the Twin Rivers Park committee, aL epee woe tet begin this mer with clean-up period of five years. It was also possible that a proposed : playing field opposite the present Twin be built with the ~ Siderable time. The area once’ known 2 Eremenk: 9 ae and Zucker Meadows Posed ae park over a pho" Don't worry with’ * MacPherson | OF February Perm isso WOLFE TANNING BED ration of the Castl land. It is presently a waste of former gravel pits, rusting dumps, small paths, scattered Vegetation and’ the remains of a former drive-in inosine Lbatvoeee pieces of what Castlegar was”, he quipped. Using charts and slides, he envi- sioned for his listeners how it would be transformed into “green School Board which is presently involved in a 10 SESSIONS park was a number of revisions. Three $30.00 + G.8.T years ago the council made & sur vey of the property and held a public information mecting-” Then Premier, Bill Vander Zalm presented the <1 faiboo , 412 - ‘ 623 Columbia Avenue Call Star or Larissa areas” of forest, ponds, pr . Grenby Continued from 4B daughter. Normally, you won't have to pay that tax until April next year andso should have the money in and hand as long as the house sells by then. When thé house doés sell, your ~ daughtér will pay you back the balance owing on the mort- Even if you don't have a con family around, other ways exist to trigger a capital gain on an asset that has appreciated in value to take advantage of the capital gains exemption while it still exists. For example, you can sell one mutual fund and buy another: within the same fund family, you will probably pay no fees. Or you could transfer a mutual fund (or stock) to you plan as a contribution or sell the investment to you plan for cash. That would also trigger _-the capital gain. Mike Grenby is a Vancou- ver-based columnist and inde- pendent financial adviser who works with individuals; he will answer you questions in this column as space allows - ig beaches, viewing places and river edge walkway for all. Asked about the cost and time involved he said that on community involvement the cost could be between $2 million to $3 million dollars over a peri- od of ten years—“thirty years before the trees were fully devel- oped”. It had to be seen, he said, write to him clo The Castl Sun at 465 Columbia Avenue, Castlegar, B.C., VIN 1G8. = Trickey__ ment income equivalent to $40,000 after inflation (¢stimat- ed to be five per cent annually— as it has averaged for the last 30 years). | ‘To accomplish this you will have to start putting $700 Fe month into an RRSP carning 12 per cent annually. In contrast, if you started investing 10 years earlier, your payments would be less than half of that. In both cases, of course, the level of your tax deduction will signifi- cantly reduce the level of your real ‘out of ” payments. Although factors such as inflation and investment returns can affect how much you need to contribute to your RRSP annual- ly, it is very possible to plan carefully for future security. That way, you will get to the RRSP finish like in-@ winning atid be able to ‘enjoy a well- eared retirement. The information contained in this report is obtained from sources believed to be reliable, but we cannot represent that it is accurate or complete.’ > * The Castleg ATTENTION NON-PROFIT CLUBS, GROUPS, ‘ORGANIZATIONS Sun Is pl d to offer you the IS 365-5266 use of our display window. Your display may be left for a month — you set up and remove. For more details call = WZ The Saotidger Sun Castlegar Community Complex Saturday, February 12th 1994 9 am - 1:00 p.m. PLEDGE SHEETS ARE AVAILABLE PHONE 365-3226 BC Gas Utility Led. West Power-Erd. Pacific Northern Ges Led. Rate of Return én Common Equity and Capital Scructure NOTICE OF PUBLIC HEARING Time: 8:30 am. Date: April 5, 1994 Location: Commission Hearing Room 900 Howe Screét, Vancouver, B.C. ‘ Telephone. (604) 660-4700 THE TIONS BC Gas Utility Led. (BC GAS), West Kootenay Power Led. (“West Kootenay”), and Pacific Northern Gas Led. CPNG") have each applied co the ion to increase rates ‘to their respective cuscomers effective January 1, 1994. The Commission approved interim increases for BC GAS by Order No. G-120-93, for ‘West Kootenay by Order No. G-125- -93 and. for PNG by Order No. G-121-93. By Order No. G-4-94, the ‘Commission set down a public hearing into the te rates of return on common equity (“ROE™) and capital structure for each of the utilities to commence at 8:30 a.m., Tuesday, April 5, 1994 in the Commission's Hearing Room, Sixth Floor, 900 Howe Street, Vancouver, B.C. IssuES In addition ro evidence with spect i the sey Sa ROE and one structure for each of the utilities, the Commission also wishes to hear that may be employed ro tprove dhe deeominain of ROR wd op ira ree wis a favure years. will hold a sc reciag iniclince lnew she A in the Commission Hearing coom, Sixth Floor, 900 Howe Sc., spree I) pecase ce tlie 14, 1994 to discuss phasing and other issues related to the provision of evidence at the hearing. paitiine INSPECTION OF THE APPLICATION Is and relevant Commission Orders with respect to each utility are pach sp aoptioniy at the following locations: BC Gas Utility Lid. Head Office: 1111 West Georgia Sereet, Vancouver, B.C. V6E 4M4 District Offices: Kelowna, Penticton, Kamloops, Prince George and Cranbrook Pacific Northern Gas Lid. Suire 1400, 1185 West Georgia Screet, Vancouver, B.C. V6E 4G6 4 Waiderhoof, Burns Lake, Houston, Smithers, Terrace, Kitimat, Prince Rupert and Dawson Creek, B.C. West Kootenay Power Lid. Healt Office: " 1290 Esplanade, PO. Box 130, Trail, B.C. V1R 4L4 Diserit Offices: Castlegar, Crawford Bay, Creston, Grand Forks, Greenwood, Kaslo, Kelowna, Keremeos, Oliver, Osoyoos, Penticron, Salmo and South Slocan Copies off the Applications and ials are also available for inspection at che office of the Beeidh Cotesia Unies Commission, Sixth Floor, 900 Howe Screet, Vancouver, B.C. V6Z 2N3. Intervenors and interested parties are fo advise the ‘Commission Secretary of their intention to participate in the proceedings by Friday, February 11, 1994. meronmarion asauesTs to make requests for additional a eer, the Utilities should do so oe Monday, fctracan 21, 1994. Inf made by y 21, . 1994 shall be responded ro by the Utilities on or before Monday, March 14, 1994. , SUBMISSIONS BY INTERVENORS Registered Intervenors intendi: Se a wiinan wvidimce-pesnsining tn dhe stinks nies date WON Connmission snd the Utilities by Monday. February 28, 1994. PARTICIPANT FUNDING All parties intending to apply for Participant Funding must file a consistent with the Commission's Policy and Rate Sheet 2s outlined in Commission Order No. G-117-93 by Monday, February 14, 1994. 1 p 4 Persons intending to participate in the hearing and who aré uncertain as to the manner in which co proceed may contact Mr. R.J. Peilart act, Commission Secretary, or Ms. Deborah Emes, Manager, Strasegic Services; by telephone at 660-4700, or B.C. Toll Free: 1-800-663-1385, or in writing to the above address or to 660-1102. ‘The Commission can alsq be reached on the Government Electronic Mail Systern at or, on the IncerNet at