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Jaan NUNS: PETE ET LOR SEU SRS LAS aEpE TEE TEP eS

The Castlegar Sun

Wednesday, November 4, 1992

What to do when considering an unfamiliar investment

“In May, 1990, I invested more
than $6,000 with a stockbroker. I
was told the preferred shares he
Suggested would make at least 8
per cent, usually 12 per cent and
sometimes even 16-18 per cent
At that time, the bank was paying
10 per cent.

Something obviously went
wrong because I ended up losing
$3,600. Why didn’t I at least get
the 8 per cent on my money?” -
1B.

As we have seen all too often
lately, even blue-chip companies
have reduced or suspended the
dividends on their preferred

shares. And the value of such

Sun., Tues. ;
Thurs.,. Fri.

The copy you sent me of the
letter from your broker admitted
the loss was unfortunate but con-
tended the risks had been
explained to you before you
bought.

A book I wrote to help lottery
winners manage their new wealth
contains a brief form with ques-
tions to ask brokers and other
advisers about the safety of the
investments they recommend.

Whenever you consider an
unfamiliar investment, have such
a form completed, or get some-
thing else in writing about risks
and “guarantees.”

“Is the interest on student loans
tax deductible?” - K.S

No. If you had your own busi-
Ness, you might argue this was a
business expense incurred to help
you earn a profit. But Revenue
Canada would counter (1) getting
an education provides general
knowledge and skills, and (2)
education spending is a personal
expense.

“I’m 57 and want to retire, but
I'll need an income from my
RRSPs. At what age can you
change an RRSP to an RRIF?” -

Mon. - Thurs.
Fri. - Sat - 11pm

12 -6pm

pm- 10 pm

248 Columbia hee Ave., . tastge 308 365-7017

<a

ge o

SIS

THANK YOU,

CANADIANS

for participating so enthusiastically in the national

constitutional referendum.

if you voted YES, because you honestly believed that this
would help unite the country, thank you for your faith and

beli

If you voted NO, b

you h ly

d the

Charlottetown accord was a bad deal for Canada, thank you
for expressing the courage of your convictions.

NOW LET'S MOVE FORWARD TOGETHER
Let's give highest priority to policies and programs that lead

to more jobs and lower taxes.

Let's make the institutions and policies of our federal
ment more responsive to the interests and concerns of
people.

the Canadian

We have begun the process of taking back our country

Thank you.

FOR MORE INFORMATION ON A POSITIVE PROGRAM
TO BRING ABOUT A NEW AND BETTER CANADA,
PLEASE CONTACT YOUR REFORM PARTY CANDIDATE:

REFORM

PARTY OF CANADA

Happy 14th Birthday
Crystal Minnaert -

love Linda, Sam, Hailey,
Selina, Toto, Peter, Ben,
Jenny & Ken

Happy 5th Birthday
Stephanie Vilegas -
from Kerri

Happy Birthday
Lindsay Burton - love
Mom, Dad & Ryan

Happy 11th Birthday
Andrea Zaytsoff - love
Mom, Dad, Brad

& Danika

HAPPY
BIRTHDAY

THIS WEEK'S WINNER IS INDICATED BY LOGO

Prone’ you bithay wish & wa wil prt rwe of
A bietndoy greatioge rt be phoned n

Noon Thureday the week before the

Jim Gouk
Box 3515, Castlegar, B.C.
VIN 3W2 + 399-4744

* Oct. 28 Happy 4th Birthday
Corey Mark - from
Mommy & Daddy

Happy 8th Birthday
Daniele Hadikin
Melissa & Jillican

- from

If your Birthday submission is not in

this weeks ad, look to next weeks.

There is no minimum age
(Under the former rules age 60
was the minimum.)

“You wrote about cashing an

Mike
Grenby

Syndicated
Columnist

RRSP to make the $6,000 spousal
contribution. Can I directly
invest my RRSP funds into a
spousal RRIF?” - G.M.

No. You have to cash your
RRSP and declare the income,
then claim an offsetting deduc-
tion for the contribution to a
spousal RRSP. Your spouse may
then convert the RRSP to an
RRIF - but beware the “three-
year rule” which attributes RRIF
income back to you if your

spouse takes more than the mini-
mum RRIF withdrawal.

Some background; If you
have private pension income (not
CPP or OAS), you may put up to
$6,000 a year through 1994 into a
spousal RRSP. If you don't have
spare cash but do have an RRSP,
you can, as just described, take
money out of your plan to make
that spousal contribution.

This makes sense if your
spouse will be in a lower tax
bracket than you when the money
comes out, or if your spouse is
younger so the money can grow
tax-free for a longer period.

“Our money is tied up in
deposits in our RRSP’s but we'd
like to help our son buy a home.
Can we borrow against this
money to lend him a down pay-
ment?” - FR

Some financial institutions
might give you such a Joan - but
this would collapse your RRSP
(to the extent of the loan) and

you'd have to pay tax on this
extra income unless you repaid
the loan before year-end.

However, your RRSP could
lend ‘your son money, provided
this loan was secured by a mort-
gage. You'd need a self-directed
RRSP and would probably have
to wait until the deposits matured.

“I cannot find work in my pro-
fession as an engineer here but
have been offered a job in Mexi-
co (by a non-Canadian company)
at $8,000 a month with a five-
year contract. My family would
stay in Canada and I'd visit them
every three months. Can I avoid
paying Canadian taxes?” - A.L.

If you come “home” every
three months, you will probably
have a tough time convincing
Revenue Canada you have
become a non-resident for tax
purposes. Talk to an accountant
who specializes in engineers and
other clients who get long term
offshore contracts, and who is

also familiar with Mexican tax
law.

“With the after-tax return on
GIC’s, T-bills, etc., so low, what
do you think of a Lifetime Term
Deposit which I have been told
produces double the after-tax
return? I am 75 and don't want
the capital, just a good income.” -
E.G.

The technical name for a life-
time term deposit is a prescribed
annuity. You get a higher yield
because part of each income pay-
ment is a return of your own cap-
ital, which isn't taxed. You are
locked in for life - which is great
if rates keep falling or stay low,
but isn’t great if rates start to
climb again or you should need
the capital.

Mike Grenby is a Vancouver
based columnist and independent
financial adviser who works with
individuals; he will answer your
questions as space allows write to
him c/o The Castlegar Sun

Local UIC office reports abuse of system is adding up

+ SUBMITTED

The Nelson Canada Employ-
ment Centre which serves Grand
Forks, Trail, Castlegar and Nakusp,
reports that $343,513 in overpay-
ments of Unemployment Insurance
benefits have been identified in the
area, for the six months period end-
ing September, 1992.

During the same period, 6,699
claimants in the area received a
total of $30,809.298 in Unem-
ployment Insurance benefits.

Kim Bergh, Manager of the
CEC stated, “Our Investigations
Unit does an excellent job of track-
ing down overpayments caused by
mistakes or abuse. The Unit is cen-
tral to our efforts to protect the

interests of all claimants, as well as
employers and workers who
finance the Unemployment Insur-
ance program. Mistakes are always
possible and, while the vast major-
ity of claimants are honest, there is
a small minority who abuse the
system.”

Where the overpayment is a
result of abuse or fraud, the
claimant or employer not only has
to repay the amount of the over-
payment, but may also be penal-
ized. In the most flagrant cases of
abuse, the claimant or employer
involved may be prosecuted.

In the six month period, 1,772
investigations were conducted,
resulting in penalties totalling
$100,489 and three prosecutions.

Greg Patterson, an Investiga-
tion and Control Officer at the
CEC, says he gets his leads from
a variety of sources. Most come
from matching UI computer sys-
tem records with employer
records, but many successful
investigations have started with
an anonymous phone call or letter
from a concerned member of the
community.

Many employers in the area
participate in the UI report On
Hiring Program. The Social
Insurance Number and first day
of work for a new employee, are
Teported to the CEC. Employers
are encouraged to join this pro-
gram and may do so by contact-
ing the CEC.

Winners of the Eastgate Garden grade seven Woodland Park Elementary School
Pumpkin carving contest, posed for a quick photo with Eastgate Garden owners.
From left to right Front Row; Sue and Brian Wong (owners), and the manager
Maureen. Middle row; Stacey Tarasoff, Shelley Yofonoff, Jasmine Drazdoff, Svet-
lana Rilkoff, Melissa Poznikoff, Back row; Leanna Gritchen and Sara Koochin.

Missing is Clint Batting:

SUN STAFF PHOTO /John Van Putten

HEADLINES THEATRE IN COOPERATION WITH THE BC ASSOCIATION OF INDIAN FRIENDSHIP
(CENTRES PRESENTS THE BC PROVINCIAL TOUR OF

UT of he SILENCE

Forum Theatre about Violence in the Family

"The performance and treatment of the difficult topic
of family violence had the clarity, focus and brilliance
that comes from direct experience. The cast members
were extremely knowledgeable of their roles
and played their parts eloquently."

Lorna Williams - First Nations Education Specialist

TUESDAY, NOVEMBER 17

ROBSON

MECHANICAL

HEAVY DUTY AUTOMOTIVE
AUTOMATIC TRANSMISSION

°
GENE WADDINGTON
365-7006

Usually, Overpayments are
caught quickly and do not
amount to a great deal of money.
Sometimes it's just a matter of
misinformation, or failure to
match dates and weeks of earn-
ings with benefits.

“Where claimants know they
have made false declarations
and/or an overpayment has
occurred, we want them to come

~ forward on their own. They will

have to repay the amount of the
overpayment, but won't face
penalties or prosecution. As well,
employers who have committed
an offense against Unemployment
Insurance can not take advantage
of our voluntary disclosure poli-
cy,” said Greg Patterson.

Funding announced
for smoke-free
strategies

SUBMITTED

Community grants worth a
total of $110,000 have been
approved to fund tobacco reduc-
tion strategies under Supporting
A Smoke-Free Generation - a
new initiative aimed at helping to
encourage young people in their
decision not to use tobacco.

“Communities are asked to
identify local concems regarding
tobacco use by children and
youth and to work with their
young people to develop appro-
Priate strategies for change,” said
Health Minister Elizabeth Cull
“Grants of up to $15,000 will be
allotted to communities through-
out the province in support of
this effort.”

The funding is a component of
the Tobacco Reduction Strategy
which is administered by the
Office of Health Promotion and
is developed in association with
the National Strategy to Reduce
Tobacco Use and the B.C. Can-
cer Agency. The focus of the
1992-93 British Columbia tobac-
co Reduction Strategy is to pre-
vent tobacco use by children and
youth.

Two decades ago the average
smoker started smoking at the
age of 16. Today the average
Starting age is 12 and more than
90 per cent of smokers begin
before they reach their seven-
teenth birthday.

This initiative follows the
recent passage of the Tobacco
Sales Act which is intended to
open the way for stricter control
over the sale of tobacco products
to children and youth

Caba Fashions

aS , Specializing in...
; Swimsuits © Tights
Aerobic Wear and
Figure Skating

Apparel

Wednesday, November 4, 1992

The Castlegar Sun

CHAMBER
NEWS

1995 - 6th Avenue, Castlegar, B.C. VIN 4B7 (604) 365-6313 + Fax (604)

How about those Blue Jays!!
What a world series. A team
working together. I would like to
introduce you to the new team at
the Chamber, the Board of Direc-
tors. I look forward to working
with all of them as well as our
membership of the Castlegar &
District of Commerce in
our new fiscal yeie which began
September 1, 1992 and I have not
yet officially introduced our
Board. My apologies. They are:

Ron Anmbruster — President

Dwayne Mills — Ist Vice

President

Fred Parker — 2nd Vice

President

John Perry — Director

Bruce Wilson — Director

Michelle Gorosh —= Director

Quinto Maida — Director

Ken Geddes — Director

Fae Lee — Director

Phil Hocking — Director

Fred Vigue — Director

Pete Zaystoff — Director

Donna Jory — Director

Bob Coutts — Director

Pat Medge — Director

Steve Pelton — Past President

Welcome! They look forward
to ing with the

CASTLEGAR
CHAMBER OF

COMMERCE

New Information —

A has been

365-5778

FOCUS 2000 was established
by the Canadian Chamber of
Cc

from the a of E

to help small and
size be more

and Trade males & a new publi-
cation coming our way in the
next week. This publication is a

ve ina global market
economy, and also to help rein-
force the Chamber movement's
i ani-

study which has just been
released - Small business Taxes:
Comparing BC to Washi
State.

The study (verified by Price
Waterhouse) shows that an
owner-operator of a Canadian-
controlled: private corporation in
BC with net corp income of
$2,000,000 pays 21% less in total
corp and pérsonal taxes than the
equivalent US business. Wash-
ington States’ business and occu-
pation tax equals $16,500 vs. NIL
for BC. Also their owner-operat-
ed Social Security payment is
more than 6 times the Canada
Pension payment. Finally federal
and provincial small business
deductions applying to the first
$2,000,000 is an advantage.

This comparison is for the
business tax and the owner’s per-
sonal tax only. It doesn’t deal

to make the Castlegar & District

Chamber of Commerce, the best

in the Kootenays. I would like to

thank all of our members who
ly renew their

ship. I would also like to thank

our new members.

So, you want to cancel eh?

Please Cancel Our member-
ship. Every Chamber will receive
an occasional note of this sort,
especially in response to annual
dues billings. It isn’t elaborate; it
simply reads, “Please cancel our
membership.” But What does the
note really say?

Please cancel our support of
Promoting a good public image
for every member of the Cham-
ber.

Please cancel our support of a
united voice for Chamber issues
at all levels of government. We
have no interest in what happens
in the agencies that tax, license
and regulate our business and
professional activities.

Please cancel our support of
the welfare of all people who are,
or could or should be touched by
the activities of our Chamber.

Please cancel our opportunity
for further learning from or shar-
ing with other members, to the
betterment of us all.

Please cancel our opportunity
for enlarging our contracts with
others who might buy from us
sell to us, and thereby help
enlarge or improve our success.

in this weeks issue
e Woolco

with related taxes like
State sales tax, GST, etc. It isa
five-page study and if you are
interested in reading it, please
contact the Chamber office.

BCTV and Community Events

that they are trying to convince
BCTV in producing a new Satur-
day morning program that will
preview community events from
the various regions in the
Province. BCTV has asked the
Ministry to forward any informa-
tion on Chamber-sponsored festi-
vals and tourism related events.
SO... if you have an event you
would like our Chamber to for-
ward on to the Ministry, please
get it into the Chamber office as
soon as possible. The following
information will be required:
name of event, date of event,
contact name and brief descrip-;
tion of the event. They stress
BRIEF. Apparently BCTV will
contact the organizing sponsor at
a later date for more info.

Focus 2000

Pp as ap org:
zation which seeks to improve

RENEE READ

long term socio-economic devel-
opment.

FOCUS 2000 is a department
within the Canadian Chamber of
Commerce which pursues this
mission by initiating and admin-
istering programs to help small
and medium size businesses,
though their local Chambers of
Commerce and Boards of Trade,
be more competitive regionally,
nationally, or internationally. If
your business is interested in
learning more about the FOCUS
2000 program, please contact the
Chamber office

The Canadian Chamber of
Commerce has sponsored a
focus group to provide a list of
practical suggestions for busi-
nesses in order to deal with the
physical barriers faced by people
with disabilities. The list is by no
means comprehensive or com:
plete, but it will help business
operators and executive to get
started in planning for greater
access. A copy of this list is
available at the Chamber office.

Did you know?

Tourism in B.C. currently gen-

Manager's report -asaax

erates about $5.5 BILLION in
direct revenues and employs
more than 183, 000 workers in
tourism-related jobs. According
to the Ministry of Finance, it con-
tributes approximately $2.6 BIL-
LION to our provincial GDP.

Toll-free inquiry

The Ministry of Tourism’s toll-
free inquiry service handled a
record 187,000 calls Jast year.
Apparently calls were up because
of dramatically reduced airfares
in the U.S. and a Canada-wide
Promotion, “Experience Canada.”
About 70% of those called intend
to visit B. C., 31% plan to visit
Vancouver and Victoria, 15%
pian to travel to other destina-
tions in the province and about
24% do not specify any particular
destination within the province.
Callers who say they intend to
come here say they will be here
an average of 7.2 weeks from the
time of the call. The most-
requested items are the Accom-
modations Guide, the B.C. Road
Map and the Travel Guide

Information

The Castlegar & District
Chamber of Commerce are work-
ing on putting together two publi-
cations. One will list all of the
brochures and publications we
have on hand through the Travel
InfoCentre and the other will be
all of the books and publications
we haye available through the
Business InfoCentre. These will
be available in the near future
and will be distributed through-
out the community. They will
also be available to anyone inter-
ested in finding out more about
what our Chamber has to offer.

Window Business Show

The Window on Business
Show is now accepting applica-
tions from home-based businesses
in B.C. in the computer and busi-
ness communication industries.

Graphic designers, publishers
of software and shareware, inven-
tors, small manufacturers of com-
puter and business accessories,
and specialized business manage-
ment and consulting services will
show their products and services
This show is being sp d by

CLASSI ieoS

this venue. More information is
available at the Castlegar Cham-
ber office.

Creative Arts Show

The eighth B.C. Creative Ars
Show is now accepting applications
from home-based B.C. businesses
which produce quality gift items.
‘The Vancouver Gift Gallery Show,
March 14-16, will be seen by more
than 6, 000 buyers. Please contact
our office if you are interested in
more information or an application.

PrPerderderdgerderdprdgrdgrigragrd
Share The Memory
With A Gift Portrait

27 Colour Portraits For Only $ ] 2 95
e

Plus $2.00 Sitting Fee

4

Fd ed aid tne dnned ded tied ed eed axed One tae ined tne ddl dnedh ded teh teh inh te

Portrait Package
Includes 1-8x10,
2-5x7, 8 Wallets
and 16 Friendship
Wallets
PLUS HOLIDAY
SEASON BONUS
~ 8 Greeting Cards &
Envelopes For Photos

$2.00 sitting fee for each subject in the portrait

Special offer background and poses our selection.

Personality portrait, props, scenic, white, black and Christmas
backgrounds are not available in the special offer

Adults and family groups welcome

One special offer per family.

Portraits taken before December 8th will be available for Christmas

By appointment only for your convenience Offer available only at SEARS Catalogue
‘Stores on the dates indicated below. Calll voday for appointment. Use your SEARS Card.

349 Columbia, Castlegar
Now. 12: 9:30 - 1, 2-5 © Now 13: 9:30 - 1, 2- 4:30
SEARS ~

your money's worth ... and more
TM Trademark authorized for use in Canada

KA Ertprdprdgrdortprdgprdprdigrtgrdégrdigpriprigrdprdigrterdprdprdgertgrd

Cd ned tend teed teed ed end ed ed ad nd

the Ministry of Economic Devel-
opment, Small Business and Trade
and Southex Exhibitions, one of
North America’s largest trade and
consumer show producers.

The Window on Business
Show will be January 12-14,
1993. Participation in this spon-
sored section is open to 60 B.C.
home-based businesses which
have not previously marketed
their products/services through

BLOW OUT PRICES!

SO’ OFF
0 ON ONE OR
INVICTA GS OUR

tein”

Whitewail Size
7165/80R12
7175/80R13
7185/6081
9185/7214

35 % Sountnes”

BEST ALL- a

2195/7081 4 905 2W

7205) 70814 935 AW

SURPLUS
EQUIPMENT

SALE OF

The City of Castlegar will be selling by tender the following items:

UNIT # MAKE SERIAL #

02 1982 GMC 1/2 Ton 2GTCC14D3C15116577

1987 Chev 1/2 Ton 1GCCR 14Z6H124006

1968 Chev 5 Ton
& Chrysler Nissan Power Unit

C8638 1122164
CN6-33

1977 Chev 5 Ton
& London Sander - NO BOX
& Belly Plow (Frink)

CCE66TV 104104
84-161
0936

1980 Chev 5 Ton
& Henderson Chief Sander
& Belly Plow (Frink)

CI7DEAV151445
12675
U936

1976 Case W14 Loader 9119799

1979 Trackless & Blower MT3088

Vibromax Tamper

Speedy Paint Stripper

Rainbird Sprinkler on Trailer

approximately 60’ sander conveyor chain

1 - Safety Leg for truck box

2 - Pintle Hitches

1 - Gas Pump

ALL Rich RADIALS

WORK

MISTER TIRE SALES

480 Columbia Ave., Castlegar, B.C. - 365-7145

2.- Diese! Pumps

1 - Pulsar Diagnostic Scope

| - Flat Deck (steel) for pickup

1 box - Miscellaneous Hydraulic Hose

- Fairbanks Morse Diaphragm Pump

Model 3ADF 94038K

Public viewing for these items will take place from 1:00 to 2:00
p-m. on November 2nd & 3rd, 1992.

All sales arefinal on an as is where is basis. The highest or any bid
may not necessarily be accepted.

Sealed bids are to be submitted by noon November 6, 1992 and

Stanley Humphries Secondary School
720 - 7th Ave., Castlegar
8:00 pm ¢ $6.00

sponsored by: Ana
Castlegar Community Services e\——_ A

365-2104 t \ 1 sata Grand Forks ="

Spandex and cotton lycra
fabric for sale

Accepting Christmas orders for
clubs & individuals until Dec. 7th

addressed to:

Barry Comin, A.Sc.T
Superintendent of Public Works
City of Castlegar

460 Columbia Avenue
Castlegar, B.C. VIN 1G7
Phone: 365-7227

FOUR WHEEL ALIGNMENT & BRAKES _
ee

Call for sizes and prices on additional sale items. Sale ends Nov. 7th, 1992.
Get $100 trade-in rebate for 15” tires, $80 fpr 14”, $60 for 13".

Earn 1 AIR MILE for ovary $4 epent. Ask your pusticionting retailer
about Goodyear's air travel rewards with purchase.

Tires * Shocks © Brakes ¢ Alignment ¢ Oil, Lube & Filter