PAGE Aé, THE HERALD, Wednesday, April 27, 1977 REPORT FROM VICTORIA -by Cyril M. Shelford MLA This week I would like to give some advice to the people that intend to travel to another country. Be sure before leaving Canada that you take out health in- surance for your protection. The B.C. Hospital Program, by statute, only pays part of your bill if you end up sick in another country. B.C.H.1.8. will pay up to the total they would have to pay if you were sick in B.C. This can be a financial disaster if caught by a sudden illness while on holiday. * Thave had two cases in the last month that have shocked everyone involved with them so I decided to bring them ta the attention of anyone considering a trip outside the country. The first case involved a pregnant lady on holiday in the U.S.A. who gave birth to a premature baby who required specialized at- tention for some time. This cost her over $3,000 above what B.C.H.LS. would pay. The second case involved an old age pensioner who went to the U.S.A. and ended up in the hospital for some time. His total bill came to $6,494 and B.C.H.I.S. paid $1,733.22, leaving a balance of $4,760.78. As you can well imagine in neither one of Apher heor er hee erat idys : The Employers’ Council has recommended a restructuring of the Economic Council _ of Eanada. The proposal is Zontained in a brief to the federal government dealing with the post anti-inflation program period, and, ‘specifically, new links Between government and the private sector. This was the Employers’ Council's . money. these cases, could the people involved pay out this kind of One if being threatened with court action now if they don’t pay within 30 days. It is easy to say that government should pay but there are hundreds of cases where this happens and if government did pay three and four times as much as it would cost here in B.C., the rates of B.C, Medical and taxes for B.C.H.LS. would have to up a great deal, which would mean that those that couldn’t afford to travel and go on holidays in foreign countries would also have to pay more which wouldn’t be fair. The cost of insurance to cover this type of situation is not high. You could consider either an extension of your M.S.A. Insuranee to cover you while you are out of the country, which I understand is $2 a month extra or see your insurance agent or travel agent for, health service coverage while fou are away. Don't be fooled by someone trying to sell you _accident insurance only as it won't be any help to you if you get sick and end up in hospital. Hoping the news media will give this problem the attention it deserves as I am. Employers want to restructure economic council The council’s earlier submission called for removing the anti-inflation controls ‘‘at the earliest date, subject only to the implementation of decontrol legislation...to ensure that the. advantages gained in moderating wage and price increases under the program are retained.” Productivity, fiscal and Monetary policy and HISTORICAL AND CONTEMPORARY — Madern craft and ancient craft are depicted here with a Canadian-American When employees are transferred to and from Canada, they immediately confront new and strange income tax rules. As a practical guide to professional planning for such moves, this book has been prepared by CCH by Ernst & Ernst, an in- ternational firm of ac- countants at 6 Garamond Court, Don Mills, Ontario MSC 125. . Written as a practitioner's guide in layman's language, this book is an authoritative treatment of the tax con- sequences arising from a change of employment from the United States to Canada, or vice versa. In addition to the sophisticated technicalities, it also covers the do’s and dont’s, the special problems of entering and exiting, the com- _,plexities of international fringe benefits, as well as such frequently neglected matters as provincial hospitalization or preser- ving social security en- titlements and old age pensions. While problems relating to U.S. citizens transferred to Canada are emphasized, the Guide lends itself to the less often discussed tax challenges of the Canadian going to the United States. The appendices include a sample. checklist of in- formation required for the tax return of the U.S, citizen JIM’S TACKLE SHOP “Quality Fresh and Salt Water Fishing Tackle ¥ artist. petroglyph display and a local copper enameling e tax transfers residing in Canada; per- tinent Canadian In- terpretation Bulletins and highlights of the U.S. Tax Reform act of 1976. Reproductions of official Tl (Canadian) and 1040 (U.5.) forms are provided. Aided by a comprehensive topical index, this Guide to Personal Tax Planning for Canada - U.S. Employments Transfers is a useful reference for the professional adviser or the citizen taxpayer. TAX TALK THE BOTTOM LINE — WE'VE REACHED IT NOW From the Institute of (Chartered Accountants of British Columbia Taxpayers all over Canada will be forced to dig into their pockets as the April 30 filing deadline draws near. No doubt many of the taxpayers who have already filed their returns did so because they have refunds due. To complete the calculation of taxable in- come any losses, subject to certain restrictions, can be deducted as well as the pension income deduction and the interest and dividend deduction to whiph the taxpayer may be en- titled. Non-capital losses in- _ curred in the previous five years may be deducted. Similarly, any net capital losses carried forward from prior years may be deducted against income from capital gains in the current year. In addition, $1,000 of net capital losses may be deducted against other income. The detailed rules governing the pension in- come and interest. and dividend deductions have — been reviewed in previous articles. For those tax- payers who are eligible the maximum deduction is $1,000 for each of the pension income and interest and dividend deduction. Taxpayers may also claim any unused portion of their spouses’ pension or interest and dividend deduction in addition to their own claim. Most taxpayers, after having calcu ated their taxable income, will be able to calculate their income tax by use of the tables provided in T1 guide. Once the tax {s deter- mined it should be entered on the first page of the T1 return, Next, the taxes withheld, as shown on the T4 and T4-A slips, any taxes paid by instalments, any overpayment of Unem- ployment or Canada Pen- sion should be entered and as well any tax credits available. Taxpayers who have made eligible political donations in the year will be able to reduce their taxes by the tax credit for political donations. — B.C. taxpayers who are renting their homes should not forget to fil] out the B.C. renters tax credit form. Even if the taxpayer has no income or taxes to pay the renters tax credit could result in an unexpected refund. Now you are at the bottom line. If you have calculated a refund you may smile a little and hope the taxman agrees. if you have to pay the piper, take heart and think of all the nice things the government can do with all of your tax dollars. PILE ’EM ALLIN! Children, friends, dogs, bicycles, groceries. You name it. The built-to- take it Toyota station wagons have the space to take the gang just about anywhere. And they're built especially to meet the demands of Canadian driving conditions. Yes all Toyota models are winter Gegond submission to the ross national proauet were | ‘Hardy - Fenwick - Ambassadeur - Algonquin..{ ‘Surestownte a northern Canada at temper. decontrol; the first was also covered. oe Quick - Richmake”’ * ck. ‘Toyota gives you a choice of three wagon models “AB too. Youcan choose a thrifty 1.6 litre Corolla egne. a : top performer in gas economy. A rugged 2.2 litre a Corona enginy with a standard 5 speed overdrive = transmission, or our most powerful 6-cylinder Mark Il engine. forwarded in February. = A major recommendation im the brief is for the éstablishment of a Canadian Advisory Council, a national advisory body growing out ef the present Economic Gouncil of Canada. The Economic Council's current fork would be expanded to include analysis of the short t6 medium term economic epncerns. (By law, the Economic Council is now Timited to studying the fredium-longer term scene.) Provincial advisory groups feeding into the 25- member national body would ensure adequate fepresentation from all Sectors of Canadian society. New reporting mechanisms — requiring quarterly public reporting to a standing ebmmittee of parliament are among the other new features. “The Employers’ Council so recommended that a Joint Business Council be ettablished by and funded By the business community. & similar national body fepresenting labor is also proposed. The Joint Business Council would Rave representation from the major industrial sectors, The key role of this group is (e ensure that the business community has a direct access to the Canadian Advisory Council and to vernment., The reverse is ajso true and is seen as a ositive move in improving Qusiness-government Fly Tying & Rod Building Supplies Souvenirs & Local Crafts * Our prices are fair x Shop & Compare 4120 Hwy. 16 East yo TOYOTA GORONA 5 DOOR WAGON with ophanal simulated wood gran side panelbrig In the 15th century some people carried a portable sun- dial in their pockets to tell . the time. 635-9471 TOYOTA COROL “5 DOOR WAG with oplional simulaled wood” "grain side panelling: All Toyota wag- As ons have electric rear window detroster, washer, wiper systems, a standard feature for your convenience and safety. Also standard on all Toyota wag- ons are power front disc brakes, Heavy duly battery, fully reciining front seats and many more. And for 1977 an optional automatic transmission/frant bench seat package is available TOYOTAMARK II rélalions, or in the case of onthe Corena. - the labor counterpart, ~ Socome on, pile ‘em all in for a test drive at your local Toyota 5 DOOR WAGON Tqbour-government Dealer today. felalions. It is hoped that in the future joint submissions ~ ® uy both groups might . become feasible. Become recommendations ... the new name for an old friend. gommente mployers’ a . Cpuncil president William Get to know Husky. Drive in and receive a beautiful 16" x20" full color fine art print of the picture shown above— absolutely free while supplies last. Available at Husky and Union stations in Alberta, British Columbia and the Yukon. Hamilton, “are directed at developing constructive workable mechanisms to ¢hieve more effective input ito the governmental -@ecision-making process. None of these proposals Produce companies, unions, ther groups or individuals from having direct access to government; they are an attempt to ensure that prior tp decision-making, Oe 3 co ar ee THORNHILL HUSKY SERVICE TERRACE MOTORS LTD. 4916 Highway 16 West Tel: 635-6558 Dealer Number D004498 vernment receives G@rganized and relevant 3097 Hwy. 16 East Terrace, B.C. 635-3717 . faput from ifs various : WE’RE THE SMALL CAR EXPERTS. éonstituencies.”