A8 - The Terrace Standard, Wednesday, November 9, 2005

CORRESPONDENCE FOR THE TERRACE STANDARD

The Mail Bag

Writer not inspired

by election hopefuls

i Dear Sir:

Ahad the pleasure of fattending the all can-

didates forum on Nov. 1. Having roused a.

friend along I had hoped that this time, upon
my return back to Terrace, . that finally the

; candidates’ who want to remain on, or gain

a seat on, city council would inspire me to

~ yote for them.

€

Inspire me to see that Terrace is better |

than it ever was and that I can do my part
by voting for them and having our collective

vision of Terrace realized. And that maybe, ©

" just maybe, I’ would decide that I do really:

want to spend the rest of my life right where
it all began.

Unfortunately it didn’t turn out that way.
After the candidates all had their say, anoth-
er ‘attendee, sitting right behind me asked,
“so, what did you think?” I told him that

'T- was unimpressed. Nothing anyone said

‘affected any issues that I hold a stake in

' (ie. teen pregnancy rates, concrete ways or.
-, ideas regarding how to lure Terrace gradu-
‘ates back to Terrace, lack of safety on city
streets, and ways of creating an inclusive ~

community where we can be proud to say we
don’t discriminate against the poor, youth,
First Nations people, or those that identify
as queer).

_ Dear Sir: |

It’s official. We have air pollution i in Ter-
race. I never really realized the true meaning
of air quality up until now. I guess it’s be-
cause I’m used to living in the country.

In response to a letter in The Terrace

I have been meaning to get this letter of con-
‘cern out since I read the article.

_ Standard of Aug. 24 about the asphalt plant, -

~ wanting to move somewhere beiter.

But I have been trying to figure out how -

' to put into words how important it is to have

less pollution and to be able to enjoy life bet-

ter, without sounding like an old: lady that -

plain about everything’. -
‘The smell has been drifting around for

"approx. two years now, but worse in n the past

year.
When I noticed it the first time, it was al-
most as if exhaust-from a vehicle was coming

’ in sight from outside our kitchen window.

I’m so tiréd of not feeling well from this.
As for some of the neighbours that live
fairly close to the plant, they probably.don’t
notice that horrible, choking, smell because

Expecting a large sum from your employer?

If you’re in line for a big cash payment
from your employer, don’t break out the
champagne just yet. While a large lump
sum can be a major bonus, it can also be
a tax headache. .

Lump sum payments come in many
forms, ranging from severance pay to a
big payout from a Deferred Profit Sharing

Plan (DPSP) when you leave a job..

Handled incorrectly, payments like these
have the potential to dramatically hike

has nothing better to do but whine and com-

twenty-something in town.

_ Nor did anyone ‘address the way I look

‘at the issues that are (on the table (ie. pos-

sible displacement of the Terrace Women’s

- Resource Centre for the second sheet of ice,

and not only eradicating homelessness, but
encouraging acceptable public awareness
around the issue). -

I was not inspired to vote for any candi-
date based on their politics and feel resigned .

to voting for them based on their charisma

and supposed energy. .

Sure, we can look at the fact that 1 am
not running, and that perhaps that my issues -
would finally get to the table if I brought
them to the'table. ;

Or that my issues do not reflect every
Or that the
young people of Terrace “just are not inter-
ested in local politics”.

But I do.know that I am tired of. run-
ning into young people who look burned
out, dispirited, and about to realize that they
will spend the rest of their lives in this town

Please, inspire us to be part of the political
community, and to see that after all Terrace —
has been through, the twenty-somethings in
this town do matter, ;

Diandra Oliver, Terrace, B. C.

Move that plant, please

of just that — they live too close and are not
affected as much.

No-matter where you. go, there’s no es-
caping the suffocating smell - our banks,
supermarkets, gyms.. ;

_ Have you tried to work out while chok-
ing in between reps —~one (cough) two,
(cough)?

My face gets red hot and not because of
the workout, but of the smoke inhalation. _

I totally agree that. it should be moved,
(or improved at least). God knows we have
enough gravel pits around Terrace.

Shouldn’t this fall in the category of
‘common sense’ also? Why is it when some-
thing like this occurs, the public’s concern is.
ignored. Aren’t we the people that make the

* community?

We know that smoking cigarettes may
cause cancer, but does it make it. Okay.. to

be killed by such plants etc., being built so : ;

close to our residential area?
Sylvia Eide,
Terrace, B.C.

commuted value can be _ transferred
directly into a locked-in plan under the
limits specified in the Income Tax Act.
The portion that exceeds these limits will
be taxable in the year received unless it
can.be transferred to an RRSP or other
eligible registered investment. You must
have contribution ‘room available to do
so.

You could ask your employer to defer
part of the allowance, spreading the

your income tax bill.

tax burden. By taking your

Fortunately, there are |
ways to reduce tax liability |
‘and. put more of that lump
sum in your pocket. The tax-
smart moves available to
you will depend on the type
of payment you receive.

Most lump sums are in the
form of retiring allowances. |
‘These include payments for
long service when you retire,
or compensation for the loss

Kevin Marleau

Investment Representative

payment in . installments,
you can split income taxes
over a number of years and
potentially reduce the overall
amount of tax you pay. °.
Proceeds froma DPSP paid:
to you when you leave your
job can also be transferred
directly to an RRSP where
“they will continue to grow
tax deferred until withdrawn.
Your normal contribution limit

of employment in the form +
of a severance (considered a retiring
allowance for’ tax purposes). Another
source is the transfer of the commuted
value of. a company pension (what your
pension is worth today in a lump sum).

Court awards or legal settlements for -

wrongful dismissal are also usually
considered retiring allowances.

Retiring allowances and_ pension
transfers are generally treated in. the
same way as regular income, so they may
be subject to tax in the year you receive
them. If the amounts are large or your

. Salary and other earnings during the year
are high, income taxes could reduce the
proceeds from your employer payout by
-almost half. Your personal situation will
depend on your marginal! tax rate.

Let’s look at ways to avoid tax. If you
receive a retiring allowance, you may be
able to defer taxes by transferring some
of the amount to a Registered Retirement
Savings Plan (RRSP). You could be eligible

to transfer $2,000 for each year or part |

year during which you were employed
before 1996, plus $1,500 for each year

‘or part year before 1989, providing you ,

were not contributing to a defined benefit
pension plan in that year. These transfers
will not use up your current available
contribution room or your unused room.
Remaining funds can be used to make a

contribution to an RRSP.as long as you

have available room. Otherwise you may
be taxed on this amount.

Pension transfers are subject to tax.

Most of the time, all or most of the

.at least part of the amount through an

‘Edward Jones

is not affected. You can also
use the funds to purchase an annuity, or
in some cases transfer funds to your new
employer's DPSP or pension plan. .
What if you don’t want to shelter all

of your lump sum from taxes or delay:
payments to reduce taxes? For example,
you could have immediate needs that
require cash-a major purchase, taking
a trip, paying down your mortgage or
paying off a loan. In this case, you'll have
to pay tax. But consider deferring tax on

RRSP This way you reduce the tax bite,
and still have some cash: available for-
immediate use. ,

If you're expecting a lump sum
payment, be sure to discuss the matter
with an investment representative before
arrangements are finalized. MEMBER CIPF

UPCOMING SEMINARS
LEAVING YOUR JOB

Dealing with Severance & Pension Transfers

Kitimat: Thursday, November 24, 2005
Terrace: Tuesday, November 29, 2005

Please Call To Reserve Your Seat
at 638-1202 or 1-877-638-1202

Serving Individual Investors

107-4716 Lazelle Avenue |
Terrace, B.C., V8G 1T2
(250) 638-1202 or 4-877-638-1202

u

i

Re-elect

MARYLIN
DAVIES

‘Ah ACHIEVEMENT ¢

Royal LePage Terrace
Congratulates

Vance Hadley
Success on attaining
“Top Producer”
For the month of October.
Royal LePage Terrace

Tee rs

COUNCILLOR
on Nov. 19 —

¢ Chaired 75th Anniversary Celebrations
® Chaired North Central Municipal Association Conference

SRC? SHOE

ROYAL LEPAGE
TERRACE

DOSRORRE pines FELDEN eeecee: SLE

° Representative for: Terrace Economic Development Authority ft « . ff a
© Terrace Tourism . / heré 16 Q choice! =
'@ Northwest Corridor Development Corporation director 635- 2404 . =
An Independent Voice With A Vision For The Future - i Our Growth in sales means many satisfied i
. home Buyers & Sellers in Terrace & Kitimat . #

On Nov. 19 Re-Elect Xx] Davies, Marylin. eUNMMNNND wes BUNUN 2: WONUNN ses MUNN 2225 _

%

cphagek

HEAD OFFICE:

Te rrace

(not Toronto) _

WE KNOW THE NORTH,
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- rif Complimentary, >
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Full bar service

af Snack service with
your choice of a sub
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with cheese & crackers

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*One way airfare from Terrace is available on selected flights. The number
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