iExecullye. Commiilee that -

the “Kitimat-Stikine 'Reglonal ©

atkshop concerns neighbor hoo
‘Improvement Programs and
Residential | Rehabilitation
Programs:.as included in. the
Special. Housing Act and Mr.
Potsette should ge and first
invile Jack Iadden of C.M.H.C:

= meellng and tosubmit a written’
“report for.the Board. . - -
= Mr.:Pausette did not go but

auvér: meeting conflicted with
board's *:regular - monthly.
meeting on February 20th, set
one. month ago, ‘

The ‘Executive Commiltee
exaimed: the Kitsumkalum Ski
Development ° Society's
development .- and | budget
program, The committee
moved tha! representation from
Kitsumkalum Mountain Ski
Development’. allend ~ the
February 20.:meeling. of ‘the
Regional’ District: Board “ta
further discuss this matter inan’
open meeling:

Saciety~ showed" up for’ the
aecling. Dette a .
Iv repsonse to questioning by
Kilimat - Director Jae Banyay,
Adininistrator- John Pousette”
said <1. (hat. Ge Board. had
never ‘approved the - hiring -of
Hunk Buncome as 2 consultant.
Mr.: Banyay took. exception to
this and said thal such decisions
should -be.drrived at through a
vote from the Board aid not an
administrative perogative, He

decision a slo who gets the joty'*

h)

‘yeldine d.by John Pouselte lo
‘delermine: downgrades . for ‘all
‘goverment ayvencies-for the 30
sets of houndarles .in the
7. Regiing E District, . He will
also“do sketches’ and assist in
obtaining bids, ~~ > 7.”

WEDNESDAY, FEBRUARY 27,1074:
«around the Re Distri
- recommendation. trom- a The matler: came up ducing . * April or May in Prince George,
dministrator John Powelle of . Payable Statenient for Janaury;

istriel altend 9. Central payment to Hank Buncombe’
oo and >” -Housiag .. Consulting Service of $300.90"

decisions would only be made in
the future subject to a report to
the Executive Committee.
- The Board accepted a
recommendation from the
Technical Planning Committee:
: , that the matter of setting higher
o-attend a fucture Board ‘slandards for development on
lakeshore in northwest British —
Columbia’ be forwarded ‘in: a- i
lelter’ to the Environmental: & °
Hay Parfitt along as the Vam-- Land ‘Use . Committee, using
Lakelsé Lake.as the Basis for
their initial examination,
‘The Board: acted. on a-
recommendation from. lhe
Technical Planning Committee
thal the Department of Health
be advised of dissallsfaction of .
ihe. pereulatlon approach and
the septic:tank system for in-
dividual sewage disposal, .and
that the Department be urged to-
use. the’ “elivas".. or similar”
systems presently being used in
Sweden. 0. :
The ©. Boar 1
- ‘recammendation from. the
“No ‘representative of. the . Technical “Plannaing .Com-—
mittee that they consider asking ©
for a watershed. reserve .on--.
those areas having a_aumber cf.
_ private waler- systems which
may evolve into:a community
water’ supply and. that some
study be made.to establish the
most critical areas.

d “acted: on a-

’ He was reported that there is
some doubt as towhether.or not
the railway south, of Houston
-whil be constructed to take oul
although
_miniig development In the area
oy ° indicates that the, cailway_ wilt
Buncombe has been’ probably he bullt to develop the
known inining properties. ”
Administrator
-Pousettee. briefly -oullined . the
proposals for the ‘Northern -
Development . Councli's.. plan-
ning conference In regard to the
visitor industry la be held in,

said "We should ‘ninke the . [rest

The confererice. subject will be
planning,

promotion of: the ‘Visitor In-
_dusbry. : ee

Ww
February 19 was approved, The — month that had been questioned :
eayons given by the Bxeculive by Mc. Banyay. Technical Planning committee
Committee was (hit. this The Board decided that these slated thal action would have to

Crown Land, and that so far
there has been no proposal from.
the Lands Branch in connection -
with. the’ - “highlights. of °
Management Activities In the —
Prince Rupert Forest District
for.1873" report... ~ .

‘ony Robinson was returned
as!Chairman of. the Technical *
Planning © Committee © and
Francis Martin was returned as
Vice-Chairman.

A cletler fram -Highways
Minister Graham Lea advises
that high among the priorities of
the Department this year will
heanaltempl to integrate high-
way planning and community
planning. - .

Mr, Lea advises that this task
will require significant changes
in traditional altitudes towards
highway planning and a. clear

which have percipitaled these
changes. - : 4

. Tovassure, this the Ministry
has. prepared. a slide -presen-
- talion whieh, it is: hoped, will
clearly explain the problems of
highway development which

‘ confront the department: 7

| dit this" connectlon: the
Regional. District. Board.
resolved lo Invite the depart-'
ment,.¢o bring this’ slide
presenttion to. Terrace for:
“showing ‘ata Regional District
Hoard micetlng - At the same
time Administrator John
Pousetie will organize facllities
_ 30 dat the presentation will be
made available ‘lo .all com
hlunities tn: the.- Regional-
District concerned. Cily and
village: councils will be. invited
us well as, other Interested
organizations, - ‘

John

“Aveo Financial Services —

“requires -

George Thom. will alland ‘the
annual general meeting of the
Yellowhead: 16
Columbia ‘Travel “Association
cwhich + will’ be ‘held at the

Saturday Marelr 23, 1974.)

management,
* development; and." finally, :

Chairman ‘Tony Robinson of the |

be taken against trespassers on <

understanding of the problems |

~ Directors Perry York: and
(British.

Smithers Bulkley. Holel.on _

Tax

. For “ further. information, call

the District Taxation Oiflee. If
you live Ina {oll area, ask you

long-distance © operator’ for .
-- ZENITH 04000 and your call
will be placed ; without charge.

qQ. ‘Regarding the lax on capital
gains, whal if properly was
aecquited before January L, 1972,

ata’ ~ cost of $2,000 and was -
worth only $1,000 on Valuation.”

Day; If later. this property was
sold for $2,5000 wil f
gain in. this case be §500 or
$1,500? : :

“A In this example the capilal |
gain wauld be $500, the actual .

gain over the period of

~ ownership, one. half of..which-

would be taxable,

Q: How would I-be affected if Ir.

acquired an investment before
January 1, 1972, ala cost of $300,
the fair market ‘value ‘oi the
invest on Valuation Day is $400
and 1 sell the investment at.a

' later date for $300." Do I havea.
-’ capital gain when sold. -Gn the .
“other hand, capital losses will

capital loss of $500 or. $100.
A. In this case you would have a
capital loss of $100, the dif-
ference between the fair market
yalue on. Valuation, Day: and
your actual selling price, one-

half of which, or $50 would be.

deductible from income.
Q. . What is the general rule as,

* faras capital gains or loases are
concerned? How are such gains
or losses accounted ‘for by a-
Staxpayer? ys) =

A. The general rule is that one-

half of capital gains- = are

. included in income and taxed at

a parson’s normal rate of tax.

‘When dealing “with capilal

losses, one-half of such losses

. may. be deducted against one-
- half of capital gains. In addition
an individual taxpayer may

‘also. deduct ‘up-to . $1,000. of

-eapilal losses ‘against . other

income. - wy
Q.. What happens if I sell my

home al a price greater than it

cost me? Am | going tobe taxed

on-any profit or gain that I.

make?. .

A. No. Ifa taxpayer uses. his”
home only. as: his principal: ©

residence, that home together-.
“Department.

wilh up to an acre of surroun-
ding. land, - if.- the - land: con-

tributes tothe use and. en-

‘Tips

] the capital: : ty

» paintings .and

each year,
A. Yes, provided you have lived -
in the cottage .at. some. time

during ‘the “year, .."Where . a -.

‘ taxpayer hag more: taari one
home, he must declare which,of -
* them ts his principal residence.
-Q. Along with a home, nearly
everyone owns personal, and
household” effects, ©. an
automobile, or many’ other
similar items, ‘Where would I
stand if 1 sold or disposed of this
pe of property? “Would Ibe
subject to the capital gains tax?

’ A, The lerm used to deseribe

the items you refer to is Per-.
sonal - use Properly. ‘Where a
personal-use Ilem does increase
in value over lime and is worth -

- more than $1,000 such asa

summer cottage for example, a
capital ‘gain from the sale of
thal ilem would be subject Lo
lax”, . Cot
Most person-use property will,-
not increase in value and will
‘not, therefore, give rise to a

ra

not bé allowed should they arise
from the sale or disposal of
personal-use property..

Q. -[ understnad there. are
special -rules. ‘regarding. the
acquisition and sale of certain

works of arl,’ Could you explain
these rules briefly? ~~

A. ‘Yes. Works.of art such as
prints, elehings, . drawings,
sculpture,
jewellery, .- rare: -- folios,
manuscripls and books, stamps
and coins are referred to as
listed personal property, Gains
on the disposition of these assets
-when sold for more than $1,000
are subject to the capilal gains
provision. Losses are. only
deductible from gains from this
type of property, |.

Q... Do: L.“have to have a -

- recognized: evaluator and pay

him in. order’ to. meet. the
requirments of Valuation Day ?
“A. -Nov. If, he taxpayer:can
-eglablish a fair market value as
of December 31,1971 himself,
from documents: that confirm -
his: basis ‘of valuation, that
method will be acceptable to the -
Insurance,
valualions, . property tax
assesaments, details of sales of
comparable property: are
-sources that could be taken into
~consideration:,. : °°” ,
_-Q, Lliveina trailer. Can this be -
classed --as’ a’: principal
residence? os , .o™
AL. Yes. Any lype of structure
: that: you® own and. oridaarily -

Bom The’ Institute “of Char

_-Mens Wear,

+

-70 DEEM, OR NOT. -
TODEEM, THATIS
TIE QUESTION.

tered” Accountants” of British

‘Columbia

Ever “stice numbers: were
first. discavered “people have
invented new ways to. amuse

themselves and confuse others

with seemingly simple, though
often complex, formula, One
such: formula is ,wsed. by: the
Canadian tax man to create a
dividing line between a visitor
to Canada and a resident.
Canadian tax is imposed upon
the Lotal worldwide income and
capital gains of a resident of
Canada (regardless —of
citizenship or place of birth).
The formula which our ‘lax
man has invented to distinguish
betweena visitor and a resident
is based upon the number 183.- If
a visitar “sojourns” in Canada
for more than 183 days in any
year then he is deemed to be a
resident of Canada for the

"entire taxation (calendar) year.
- If the 183 day rule applies, the ..
unfortunate visitor will be taxed” °

.in- Canada on his worldwide
income for the full year, even if
heis only present in Canada 183

days. at,

On the ether hand, a person
who moves to. Canada during
the year and actually lake up

residence: is only taxed in
Canada ‘on, income for. the

period of the year. thal he is
resident, even ifit is more than’
183 daye but less than 365 days.

“We would like to thank all
those who made generous
donations following lhe: fire.

Special thanks must go to Ev's

The Balettis
. Save On Gas

Get:up.to 25 miles more per.
Gal. of! gas in your car. ~
> Amazing “water-burner’' uses
the ‘principle of converting

water fa hydragenand oxygen |

+ enabling yaur car to utilize it
as fuel. Very simple device
that can be installed on any
‘ear in approximately V2 hour

- using materials that you

“purchase: locally for abavt
$5.00. . For complete in-
structions send $9.95.to Jelco
. Jnvestments Lid, 1¢0 Molnar
Rd., Kelowna, B.C... ‘

_ealled 146.-

oA. + upon — his i
moe f I alk Canada will not’ be taxed on
ax - such assets when he. resumes

A person who becomes a
resident of Canada will nol only
be taxed on his worldwide in-
come, hul the tax man has rul
that he is deemed, ta: have
acquired bis capital assets
(with cerlain exceptions) at
their fair market value at the
time he took up Canadian

residence. On ceasing to be a.
_ resident of Canada, there is a

deemed disposition of such

assels at fair markel value.
The principal assets that will

not be subject to the deemed

‘acquisition or disposition rule

include real property situated in

‘Canada, shares of private

Canadian - companies, - and

‘assets used in a. Canadian

business. a

These assels are not subject
to the rule because any gains
realized on them are’ subject to

Canadian tax whether the

owner is a Canadian resident or
a non-resident, .and therefore
entry inlo Canada has no effect.

In addition, any Canadian
resident who was not taxed

PAGE C5
“departure from

Canadian residence.
The deemed acquisition and
disposition rule. will have_an

important effect on individuals

ed who are subject to.“posting” in

their employment and who are
resident in Canada for a period
and then posted elsewhere, -
If the assets they own at the —
time of entry into Canada - even
those assels; which remain -
outside Canada - increase in -
value during. their stay in .
Canada, they will be taxable on ~

-the net increase in value ac- ©

eruing during their stay in -
Canada. A special exception is ©
provided- lo encourage ©
foreigners wilh valuable skills
to work in Canada for shart
periods of time (three years
within any ten-year. period).

It is inleresting to note that
the deemed acquisilion rule
applies only to persons im-
migraling to Canada after 1971,
so thal people who ‘came here
before that time will be able to
lake advantage of the Lax-free
zone. method of valuing capital
‘property. : ,

"| want you to pay less income tax.

There's a neat little section in the Income Tax, Act

I means that if you have an eligible retirement plan,
you can save or defer some of your tax dollars.

| can help you with it.

- But you must hurry, your

plan must be registered
within 60 days’
of December 31st.
“And these things take a
wee bit of lime. *

Drop mea line and Pll send

you more information.

a

Life

OF CANADA

: PAail this coupon to:
:, ROBERT BELISLE ~

oe . ‘ .
_All you haye to do is.register your annuity or per- -
imanent life insurance plans. . :

Thank You >

‘3
ROBERT BELISLE
5008 Park

Terrace, B.C.
635-3400

> 5008 Park
\ : Terrace, B.C,
‘i NAME.

: ADDRESS

inhabit may qualify.as’ a.)

DATE-OF BIRTH

gah Sages fag
Pe fae Geog

“oy hé_ Administrétion: hag’ been jamebited and ~oprineipal residences’: =! tenia ee

“directed to prépare the required. _tthabited by him.
material for :a designated area =< Q.: What if.[ own a summer -
‘ hy-law <to; obtain . $61,500, “in cottage? Could the cottage be.
“enpltal'cost#:for'the Skeena ice’ : considered... my principal
“Areia al Hazelton plus $3,000." residehee since: 1 spend .a ..
anuual operations casts. ", considerabie peiod of time there.

"LAPIDARY WROKSHOP

George will be here to teafh the

ecoptionist-Clerk —

We. have an-opening In our office for a person
2 who ‘can. meet. people well, handle figures aé-
“curately and is a good typist. 5 day week, salary

- All Seaton’s “ End of Season
SPORTS EQUIPMENT

_OF Brand Kame Products

“open. . Get.details from:

: 2. " lfhe ‘Terrace: Lapidary. Club’ -

; P, Lepold, Mgr. . | wil’ be holding -a-two day art.of Rock ‘Work: A fee af 75-
SL so -]. workshop at 5101 Keith Avenue, cents per person will be charged
4617 Lakelse Ave. + Mareh § and 10 between the © per diy. Coffee and donuts will-
: : hours of 10 a.m. and 6 p.m. on. beserved, 20: ws
Phone 435-7107 - : ‘Saturday jrid 9 a.m. and3p.m.". * Any person’ Interested in, y
; a st Sunday. ~ Te lapidary work is urged to attend. -
: _ Mr. Bob Marcy of: Prence this workshop. _° ~ eo,

SKIING:

NDSAY’S oy!

| GALL LIN
2 Low-Bed Service |

“Hiab Cranes

-.) Contract ‘Hauling of Any.Kind. Sige

“Scheduled Freight Service to mf ™
4 pass Rupert, Terrace, Kitimat, _ SKI'S, BINDINGS, BOOTS, POLES,
fe ee er ec is ACCESSORIES.
Nass Valley & Stewar woh 7

rt

w

h

“yo (ALLIED VAN LINES :
“WORLD'S LARGEST MOVER

“An tine | aac ety,

he Anywhere Are eal er
ee eee Y —: Sticks % OFF
| oo SERVICE. Muepunuines | —2 a

"MOVE WITH EXPERIENCE"

|’ 7#> All Seasons Sporting Goods
4524 Lakelse Ave, aS 635-2982

|. Torrace, 8.0,

(Established ‘|970)

“Where the sporisman’s

_ Terrace, B.C.
re : concern is our concern”  §

935-6209