Page 4B The Castlegar Sun Careful money management won't pring: tax surprise The, best profit is a non-taxable one, Yet.if you aren't careful, Rev- enue Canada‘can sometimes sur-__ prise you by irisisting on a sh: * ‘The most common tax. trée prof-, , it (or capital gain) is the one you | make when you sell your capital gain, which means it would be fully taxed. Ss if you do buy an old place to. ithilie idea tint you! could’ .” capital. gaids’ sell it and, because it!s your princi- . “pal rpsiddncé,’phy nd tite oa your * ! Profit, do so on an irtegular basis. ; residence, If you make, say, $40,000 when you sell your home, you get to keep all $40,000. » (Note that you can keep your , home as your principal residence for up to four'years even if you move away.and rent out the place. ‘The four-year rule is waived if your employer transfers you as long as you move back before selling. Of course, you can have only one prin- cipal residence at a time. For more. details, ask Revenue Canada for its Interpretation Bulletin IT-120R3 Principal Residence and Form T2091 Designation of a Principal Residence. ) : However, if you make money by ., regularly buying a home, fixing it up and selling it, Revenue Canada might consider that you are in busi- ness and tax your profits as full income. The same applies if you buy a Place in a rising market with the intention of flipping it (reselling shortly to make a profit). In these cases you would be able , to deduct your costs of doing busi- ness. But-you'd have to declare your profit as income rather than a Mike ¥| Grenby | Syndicated Columnist declare a $60,00 taxable Capital gain. You then claim an at the investor, The takes out the .. $60,000 of your $75,00! taxable maximum morgage possible, The + $75,000 being tu . mainly. the mortgage: rT $100,000 capital gains exemption, ‘Whenever you have a capital gain like this, always check the loss and al minimum tax — rules, These could cause you fo pay tax as a result of declaring a capital gain, although sometimes you can take steps to avoid or ut least minimize this tax.) ‘When you buy and sell revenue When you do. pell, make it clear you care motivated by non-financial rea- sons;,you want to move to a better neighborhood, your home is now too small (or too big), commuting is a problem, it’s too noisy, and so.on, For regular.investments, the cap- ital gains exemption allows you to . make a profit of up to $100,000 on your investments and pay little or. ; no tax: (f you sell a family farm or, shares of a qualifying small busi- ness, the exemption is $500,000.) Let’s say you make a profit of . $80,000 when you sell some rev- enue p or ities. You perty, you must be careful or Revenve Canada could decide to tax as full income any capital gain you claimed tax-free under the exemption. Even if you have used up your capital gains exemption, you would declare only three-quar- ters of the gain as taxable — still:a better deal than having the entire gain taxed as income. . The key: buy the revenue prop- erty to eam revenue, rather thanto resell for a profit. It helps to have an investment plan which shows projected future rental income,your Plans to maximize income, mini- mize and so on, can then claim $80, 00 of. your. + $100,000 capital gains exemption ‘and i probably pay no tax. This is far exceed the rental income. The spe¢ulator then deducts these losses from other ‘, income, reducing tax. The specula- ONIL and AMT — cumulative net ¢ tor hopes the value of the property Pay equity: (NC)—Pay cquity became law on January 1, 1988, The achievement of + ft equity i in the Pay Equity Act is tended to be accomplished through will go' up moré than his after-tax » losses so ‘be ends: up with a good: profit when he sells. Revenue , ‘Canada would tend to tax'a specu-\ lator's profits as income rather than asacapital gain, ‘The investor, on the other hand, wants to cam income from the rev- enue’ Property,even if there are ‘ “startup” losses; If, when the prop- erty is sold, there is a capital, gain,t he investor considers that a not the main reason for buyil property. In this case, ReVenuc Canada is more likely’ to ‘trent the profit as a capital, sale, Poth as full income. a self-managed process and unions negotiate and develop the pay, equity, plan. Free and o en consultations may be conducte: that both the employer and the pro- ecu aah nploy ares on, the terms and the d r the plan. In the case Boy involvement. Under the | of non- “untonlzed workplaces, the in both the public and ba en ‘sectors with 10 employees or more are required to develop, post and imp lement a pay equity plu: determined by the employer depend- ing on the number of establishments’ and the humber of bargaining units in cach The in. Pay equit ty ‘plans’ are... the pay equity process but employees are encouraged to pariletpate actively in its de- velopment, + The Pay, Equity Commission has Printed guide Ines on developing : equity plans, Course participants are walked through the. process and are guided through various skills they may use to-do pay equity.! Free publications on pay equity are also available on request, Z The Pay Equity Commission oversees the iniblersentation of the Pay Equity Act. Pay equity’ laws suport he rinciple that by remov— ing gender-blas from pay. practices, pay equity will’ contribute not just to fairer. and consequently more but also to Pay equity plan, ploy consult. the Commission on mthe plan, and where .there is may choose, or develop, the process that best suils the organization as long as the elements, of skill,’ effort, responsibility and working conditions are carefully evaluated.in women’s and conflict on The elements of the plan, a review officer from the Commission may .be asked: to help resolve _ differences, Seminars are conducted weekly by efticers hi or in men's jobs. The must be gender-neutral and all aspects of the job! sat be compared, in Ontario the creation of a society which will treat men and women fairly. To find out more about how pay equity affects you as an employer or an employee, call toll-free in Ontario at 1-800-387-8813 or 1-800-387-8887, In Toronto call 481-3314 or 481-3315. You can ‘write to the Pay Equity requanig more information or many revenue properties operate nt a loss, at least in the early years, Canada tends to look of-all eal gains are taxable, you first meliewa ni cotd Boys more closely at the speculator than ping theif pay 150 Eglinton: Avenue cae Sth Floor, ‘Toronto, Ontario, MéP IER, The environmental bottom line Building successful businesses on environment. related products Giant. Parade Saturday, SPORTS TouRNEYS eLadies Soccer ®Men’s Soccer ewallyball Sat., June 1:30 - 5 p.m. at Confederation Pask! Adults - $5.00 - Sra./Child. under 12 - $3.00 Family - $10.00 MAJOR SPONSORS: *Crestbrook Forest Industries ¢Shell Canada eid June 15th Starts 11 a.m. SWEETHEART { PAGEANT Friday, June 14th - ' ‘Starts 7:30 p.m. *Bowling ®Horseshoes ®Bocce ®Golf DEEL RAY ®Tennis ®Arm | Wrestling 15 Canlog & ‘S.LLS.A. Sanctioned Event san Steele Days Corporate Sponsors: Bank of Nova Scotia Coca Cola Mikes RY. Unt Fe SUNDA Beaver Lumber Over $6,000" jn . Cosh & Prizes SPORTS . IMUSEC del paumic | MERLE HAGGARD _ deli in concert June 16 with George Fox and “the PRAIRE OYSTER BAND. ‘*McRotkin Kids Magic Show ' Jacqueline ‘Morrow Ballet Class Performance *Frée Style Bike Demo _ ¢Dunk Tank SCIENCE WORLD Pe OU At LA] and THE ESSO SCIENCE SQUAD IN THE PARES efun:& games for the family bring your, lunch: (NC}—To the world’s fi 2 diaper company, the *bottom’ ‘line i: is simple: produce a product that is convenient and comfortable, less expensive ‘and more environmentally » friendly. That is the winning formula of The Indisposables Cotton Diaper = Company. a Vancouver-based en-—' terprise run by Annette and Calvin Cosens. former fitness instructor and stock trader, whose parental concems provided the impetus for their business. While readily acknowledging the i of the diaper’s contoured shape and long-term economy (“one third the cost of disposable diapers”), Calvin Cosens likes to emphasize its environmental attributes. “So-called disposable dia- pers are not really disposable at all.” he says. Other new parents, because they shared the Cosens* environmental awareness, quickly gravitated to The Indisposables and formed the foundation of the company’s success. Brian Goodyear of Industry, Sci- ence and Technology Canada’s Office in Vanedtivér says that the sdcéess of the Indisposables. reflects: a- broad... “More. and: more ~. Canadian. trend. Z Entreprenét¢ship + Wrapped in a friendiler world? NC taking the Indisposables message directly ta families.in every province and state. Large nationalachains Canadian ularly in the past five years. are building on y showed no interest” in our ment-related products or services,” As well as contributing to sales growth, the Cosens believe the environmental implications of their product have helped build a-strong employee ‘team. “Initially. we had a few friends with babies test our " explains Annette Cosens. elieved in the product so at many of them became our ‘amily net— working that is the basis of our growth could fever have happened through big stores.” With excellent sales in 1990, and a still-growing factory and adminis— trative staff in Vancouver (currently numbering 75). Annette and: Calvin Cosens are now on the cusp of further expansion into the U.K., New Zealand and Australia, After all. there are babies there, too. And environmentally-aware parents. “'. Carrie Corbett love Mom, Dad & Steven * * Marilyn Sam love Pearl, Randy, Carrie & Steven + Joyce Zaytsoff love Pearl, Randy, Carrie‘& Steven * Kimberly Randen from Mom, Dad, Chris & Bradley &- Chevonne from Mom, Dad, Stephanie & Jacquie ¢ Chevonnfe Zeabin from Grandpa & Grandma Zaytsoff. ¢ Baba Nayda from Stephanie, Jacquie & Chevonne: "+ Nayda Zaytsoff from Harold, Marcy, Rod, Kelly & Bill Ry Cindy Caston Jove John & Shelley Pick Up Your ‘ROYAL TREAT THIS WEEKS WINNER IS INDICATED BY.LOGO o> Phone In Your Bithday Wish & We Wil Print 2 Free of Charge. An: Birthday Greetings Must be Phoned (365-5266) In By Noon’ peser Of The Wook Betore The Paper Comes Out. ge OH Wednesday, June 12, 1991 The Castlegar Sun The Good News Continues! Buy any pizza over $12.00 (at regular price) for delivery and receive $3.00 off ANTHONY'S DELIVERS A SPECIAL DEAL Buy 2 pizzas (at regular price) for delivery and re- ceive a 3rd pizza of equal or lesser value FREE . Buy 4 pizzas (at regular price) for delivery-and receive 2 pizzas of equal or lesser value FREE 1, Choose MARILYN STRONG Strong Advertising How has the response been to Anthony's Pizza & Steakhouse's reduced eat-in and pick-up prices? "Overwhelming," said one food server who was balancing 3 plates of ribs and a pizza tray as she rushed by me and I couldn't get her name. "I don't recall being this busy since we opened in 1984," said Anthony's owner, Tony Pitaoulis. "People are patient and willing to wait a few minutes while we clean off a table and then set it up again. estauranteur overwhelmed with Response We've seen many new faces coming in and that mri me very happy,” he "I thought we might be busy for a while," said Tony, "but everyday since the story and ad appedred in the Castlegar Sun, we have been busy right up until closing time. Look around you," he said, "we have families and couples and even a child's birthday party reservation. Every- one seems to be happy and enjoying themselves." Tony quickly excused himself and walked to the door to greet new guests. "Table for 6? One minute please..." and he is off to - getting, people in help one of the food servers clear a table and re-set it for 6 new guests, "You know, I've had lots of compliments on this menu idea. People! sometimes think that the restaurant owner doesn't care whether people eat at his res- taurant or not. Well, I want people to know that I care about them being able to come out to dinner [and have] good food, good atmos- phere at good prices.” Judging by the re- sponse Anthony's is 15. Bacon, 2. Pepperoni 3. Ham 4. Mushroom 5. Pepperoni and Mushrooms 9, Shrimp and Mushrooms 10, Ham and Pinoapple 11, Bacon and Tomatoes 12, Boel and Onions 13. Pepperoni, Mushrooms and Groen Poppor 14, Pepperoni, Salami and Ham 18. Pepperoni, Bacon and Black Olives 17, Gourmet Special - Fota Choese,Ham Green Pepper. Pinapple and Onions 18, Pepperoni, Salami, Bacon and Greon Poppor 19. VEGETARIAN SPECIAL, Onions, Mushrooms, Tomatoes, Pineapple, Groon Pepper, Black Olives 20. ANTHONY SPECIAL Shrimp, Pepperont, Salami, Mushrooms, Green Pepper, Pineapple, Bacon, Ham Good News for Pizza Lovers” Check out these Eat In ae d Pick-up prices! NOW med large 8.00 10.00 8.75 10.75 8.76 10.75 8.75 10.75 9.25 10.75 9.25 10.75 9.25 10.75 9.25 10.75 9.25 10.75 9.25 10.75 9,25 10.75 9.25 10.75 8.50 10.00 10.50 8.50 10.00 10,50 8,50 10.00 11.50 8.50 10.00 11.50 Mushrooms and Green Pepper 8.75 10.50 12.25 6.75 10.50 12.25 10.75 11.75 12.75 _Swet, Bad her 11.50 12.25 13.50 All Pizzas include Tomaio Sauce and Cheese Extra Toppings: 10° re 00; 12° $1.25; 14° §1.75 Anchovies $3,00 Castlegar are glad he cares about them. Our Famous Our Famous Crolssants Chicken Fingers Lunch Specials. Soup and Sandwich( Includes coffee) shrimp, asparagus ,crab or florentine TS. _ shrimp, chicken or ham & cheesa........5, Our Famous Cassar Salad ... Greek Salad Escar, Good Beginnings... NOW 475 475. gots _ Shrimp Cocktail Grab News 4.75 French Onion NOW 1.75 Baked Onion 2.50 Caesar (ow Greek Tossed Green Salad If you are new to the community or haven't been to Anthony's Pizza for a while, come in and try some of the best food available in the area. With all the good weather, lots of people gardens or in the yard and don't have time or energy to cook. That's are working late in their Food for Thought where Anthony's Pizza comes in handy. "We have lots of people order ribs and chicken and steak for take out to the park or picnic table," said Tony. "Somedays its more popular than pizzas and pastas.” Anthony's Pizza & Steakhouse... a good place to dine in or dine out! VEAL MARSALA Great Prices on our Entrées! VEAL Was NOW 10.75 Served with Marsala sauce VEAL F GIANA 198 yas 10.75 VEAL CORDON BLEU Served with Mozzarella cheese and Marinara sauce hs 10.75 served with a wine and mushroom demigiaze (All abe ier CHICKEN ALEXANDRA and house salad, french fries or baked potato) CHICKEN Was NOW 1665 CHICKEN CORDON BLEU tender breast of chicken, chopped onions, 12.00 garlic & herbs ina y white 12.00 CHICKEN SOUVLAK! served with a wine and mushroom deml-glaze 15.85 11.00 lopped DEEP FRIED HONEY CHICKEN Broiled pieces of chicken with oregano and butter-lemon sauce. Served with rice and Greek salad BREAST OF CHICKEN PARMIGIANA with sauce Mozzaralla and Parmesan cheesa 10.75 1278 10.00 Dipped In honey and almonds 1/2 BARBEQUE CHICKEN 3208 10.00 Topped with our special barboque sauce (All above ord 8 oz NEW YORK STEAK SANDWICH and h d, french fries or baked potato or spaghetti) STEAK & RIBS Was 12 0z NEW YORK STEAK SOUVLAKI* 8 oz NEW YORK STEAK & SHRIMP (deep-fried) 12.02 NEW YORK STEAK & SHRIMP (deep-fried) Served with Greek Salad PEPPER STEAK Broiled shanks of filet mignon with oregano and butter lemon sauce on a bed of rice. 1560 our own special sauce BARBEQUE RIBS Tender chunks of beef sauteed in butter, green peppers, mushrooms, onions, tomatoes and 1065 12.75 Our own barbeque GREEK RIBS SALMON STEAK Charbroiled with oregano, lemon and garlic butter (All he above orders except * are served with house salad, franch fries or baked polato or rica, garlic toast and vegetable of the day) $0 11.75 SEAFOOD Was NOW 9.25 Pantried in butter-lemon sauce HALIBUT STEAK. Pantried in lemon sauce DEEP FRIED SHRIMP FETTUCCINI ALFREDO Great Pasta Delights was NOW DEEP FRIED OYSTER PRAWNS NEW ORLEANS PRAWNS CAJUN V2 pound of tiger prawns served bubbling hot in an herb sauce with capers 6.75 FETTUCCINI SEAFOOD FETTUCCINI or SPAGHETTI CARBONERA 7.95, Cream sauce with ham, bacon and grasa onion SPAGHETTI with MEAT SAUCE SPAGHETTI with MEAT BALLS BAKED LASAGNE with MEAT SAUCE BAKED LASAGNE with MEAT BALLS 1/2 pound of tiger prawns sauteed with wine, green pepper TRY OUR FAMOUS CRAB NEWBERG WITH REAL CRAB MEAT (2 shells) {All the above ordars served with house salad, french fries or baked potato or tice, fs, onions and our own hot cajun sauce 175 garlic toast and vegetable of the day) BAKED VEGETARIAN SPAGHETTI PIZZA SUB {All the above orders served with garlic toast) seived with Gaosar salad and Pepperoni, salami, ham, pineapple; Pee Seer Pizza tauce & mozzerotia Ghaese, GARLIC TOAST. By the Way... Free Delivery at Regular Prices Avallable! Children andes 10° Soup and Sandwich) $3.95, coffee Mon- Fri 11:30 am - 2:30 pm CHEESE TOAST FRENCH FRIES. and meat sauce MONTREAL STYLE FRENCH FRIES Covered in Mozzarella cheese, Parmesan cheese Pick up a coupon at Anthony's or Castlegar Mohawk and Save $3.00 on your next PAN-FRIED MUSHROOMS ‘Sauteed in wine and femon sauce EUROPEAN STYLE CHEESECAKE delivery order! DESSERTS ght and fluffy cheesecake, ICE CREAM, Vanilla or Ch _ Anthony’ s Pizza. & Steakhouse 1102, 2nd St. Castlegar, BC - Monday to Thursday 11 am to 1:3 Friday & Saturday 11 am to 3 am _ Sundays & Holidays 12 pm to midnite Cy All new prices are valid from June 5, 1991 to June 30, 1991 ee EAT IN or "PICK: UP orders only Please. 365- 2188 _ ae 0 am : Inquire about cur special Seniors portions! ‘4