recently..hosted the Klass Act _ Lion Show, which featured com- 7 ody acts and both lion and tiger - gubs, "The act, which was held at the -wést.end of the mall parking lot, appealed to youngsters. Dave Chovanic, the trainer of the big cats, entertained audiences by having the animals perform tricks, Laughter and smiles were _ apparent as the lions sometimes Klaes Act manager Debbie Green feeds a hungry tiger during a recent. show at the Skeena Mall. A booth was set up inside the mall for people wanting to have their pictures taken with a jlon or tiger cub. : Desiree Peters poses with a tiger cub during the recent visit of the Kiass Act show at the Skeena Mall. return to Terr TERRACE — The Skeena Mall their trainer’s instructions. According to Debbie Green, ‘manager of the show,” the | popularity of the big cats. and - cubs varies from place to place. _ Klass Act made an appearance at the mall last year and came ‘ back because of a successful stay in Terrace, | Residents appear to like hav- ing their pictures taken with our adorable cubs, ‘Green said. .. The comedy show features the © - larger animals, weighing up to ace refused or improperly followed [:)! 400 pounds. .A protective cage. ie holds the cats and their trainer while the audience looks. on from behind a rope barrier out- side the cage. . Green felt that the Klass Act show may'again appear in Ter- # The stars in the Klass Act Lion Show awalt prepares for a performance. The recent shows were held at the Skeena Ma race next year at the same time, depending on scheduling. performance time In their dressing room while thelr trainer Dave Chovanie: 7 ll, delighting observers of ali ages. __Tax reform wades in slowly, _ Proposals to change the federal tax system introduced in the Commons by Finance Minister Michael Wilson last _month are far less dramatic than expected, according to the B.C. chartered accounting firm of Clarkson Gotdon, but the im-. pact of many of the measures re- mains uncertain, i. _. Wilson’s revisions were con- tained for the most part in a White Paper for discussion, but some provisions, particularly the . “new federal sales. tax system, were held for introduction at a later date. Some other. provi- sions ‘camé in under enabling’ legislative motions to make them effective immediately or on a phased-in basis. os _A prominent feature of the Wilson proposal, expected to be’ effective for the 1988 tax year, is an overall reduction in personal income tax rates that is pro- jected: to save Canadian tax- payers about $10.3 billion over the next four years, an amount the government expects to recover through increases in cor- porate and sales taxes and a set of one-time revenue-gathering measures. . a SAVINGS DOUBTFUL Although most Canadians can expect. to pay lower taxes through Wilson’s reforms, disposable income will probably not be any greater. Corporate | tax rates are also being reduced, but the application of taxes toa greater range of incomes and the elimination of tax. shelters will effectively raise the net taxes | payable by corporations. The added costs are expected to ap- pear in ‘the price of consumer goods and services. The new federal sales tax, pro- posed at a lower rate,than the - current 12 percent, will also be spread across a much wider field, again increasing retail costs to consumers. . The new personal tax system course.is: ‘% Completely undenominationa!l * Absolutely free of charge -% Conducted entirely by malt: # Based directly on the Bible to: ‘ KNOW YOUR BIBLE CAMPAIGN Ih order to encourage a greater Interest in the Scriptures of God a ‘|: special FREE Home Bible Study Course in now being offered. This . To receive this absolutely FREE course send your name and address FREE BIBLE GOURSES, P.O. Box 324, * - Prince Rupert, B.C. V8G 3P9 _ (please print) or call 624-4449 | “Bip. will divide income into three tax. makes few waves brackets instead of the present 10. The top marginal tax rate will drop from 52.53 to 44.81 percent in B.C., and the minimum federal rate, payable | on the first $27,500 of taxable income, will remain at the cur-- rent level of 17 percent. Measures intended to have an equalizing effect across the in- ~ come . spectrum will convert some tax exemptions and deduc- tions to tax credits. Deductions and exemptions tend to be of higher value at high-income tax- ation rates, but tax credits are of equal value in all tax brackets. Some of the deductions and ex- emptions .being considered. for ‘conversion to tax credits are the basic, married and: equivalent- to-married provisions, _deduc- tion for dependents, old-age and disability. exemptions, deduc- tions for pension income, medical expenses and charitable donations, and Canada Pension Plan and Unemployment In- surance premium contributions. Some deductible expenses, ‘such as business lunches and automobile costs incurred as a business expense, will be given a’ reduced write-off rate, ‘In- vestments that have proven popular as tax shelters will be less attractive to high-income earners because they will be writ- - ten off at a reduced rate. These include multiple unit residential x an 2 He a i ‘. a ey 2 = | Independent Thiel Pryfessionals: buildings (MURB’s) and Cana- dian films. - The forward averaging provi- . ‘sion, which allows unusually’ high income in one year to be put forward to another year for tax purposes, will be phased out. ‘TAX REVENUE FROM CORPORATE SECTOR _ + TO GO UP The basic corporate tax rates in nearly all categories will drop over the next five years, -but - Wilson expects the net tax revenue from that sector to in- crease due to the weakening of many traditional business tax escape mechanisms, The. proportion of capital gains reportable as income will gradually increase from the pres- ent 50 percent to 75 percent in 1989. New rules for capital cost allowances are'intended to put depreciation write-offs closer in line with actual values of equip- ment and property. The invest- ment tax credit rate will go down, and further restrictions | will apply to eligibility rules for flow-through shares of natural resources development com- panies, Companies that specialize in financial services, such as banks, trust companies and insurance > corporations, will be substan- tially affected by the new measures. The average tax rate is AY Abo Say Bae ea ee Cecil Moore and George Clark, owners of Terrace Travel congratulate Theresa Brinkal on passing the Canadian nstitute of Travel Counsellors Qualification Examination. § . The Institute states: . “ The exam is not easy you should be very proud of your achievement.” .— ‘CONGRATULATIONS Cacil, George, Theresa, and Elsa are ready to serve all your travei needs. _ 1-800-772-6394 a er A Bf w expected to go from 14,5 percent ; to 21.3 percent, and more finan." cial institution activities will be. subject ‘to tax. Among other. provisions write-offs for doubt- ful or non-performing loans will be restricted to actual losses ‘rather than calculations based on a percentage of assets. _ The tax shelter provisions for investment in Canadian research and development. will remain virtually unchanged. SALES TAX STRUCTURE UNCERTAIN | _Wilson has set out to change the federal sales tax system, but he apparently intends to put a set of proposals through con- sultation before acting. To be ef-- fective any new scheme will re- quire approval from the prov- inces because all of them except Alberta already levy their own sales taxes. The current system applies a general rate of 12 percent to goods at the manufacturing or production level. Some goods . are exempt and construction materials are taxed a lower eight’ ‘percent rate, while alcoholic beverages and tobacco products are taxed at 15 percent. Some of the problems Wilson’ is seeking to correct in the federal sales tax system include a favorable. bias toward imports’ over domestic products, in- equities that vary the taxable value according to what sort of continued on page 18 Mint SD tohielirei ile bn co tee rae eng