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TERRA viii wo

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~ Tax time

By The Institute of
Chartered Accountants
of British Columbia
If you are your own boss

‘and making your living as

a salesman, you will no
doubt compute your in-
come ona fiscal year basis
for each business you
operate. Your income is
reported on your T-1 in the
calendar year in which
your fiscal yearends. This
means if your fiscal year
runs from October 1, 1979 to
September 30, 1980, you
will report ail income for
that fiscal year on your
1980 return.

Self-employed salesmen

may use either the cash or
accrual basis of measuring
thelr income, but they must
be consistent from year-to-
year. All other self-
employed businesses must
use the accrual basis.
Self-employed salesmen
are usually less restricted
than employed salesmen
when It comes to deducting
expenses. Be sure you
know which deductions
apply to your employment.
The general rule is that
all expenses incurred while
earning the business in-
come are deductible. -
Often a self-employed
individual will compute a
business loss or losses
which reduce his net in-
come to less than his
personal exemptions. This
means you lose those
exemptions. Always try to
avoid this, even if it means
carrying your lo¢ses into
the next taxation year.
Automobile expenses
include capital cost
allowance, lease
payments, interest and
insurance and should be
pro-rated to expenses
based upon mileage.

If you use part of your
home in business, you can
also clalm that as a
deduction. Pro-rate the
floor space you use and
include utilities, taxes,
repairs, Maintenance and
interest, If you claim
capital cost allowance, the
principal residence
exemption is no longer
available on that portion of
the residence.

Fer example, suppose
you live in a 1600-square-
foot home and use an office
and a closet, which
measure 4) square feet,
exclusively for your
business. You could deduct
400-1600 or 25 per cent of
auch expenses as heat,
electricity, repairs and
maintenance as a business
expense. :

Interest and term life
insuratice premiums paid
on business loans are
deductible, ~

Dues paid to social and
athletic clubs are not
deductible, but food and
bar services are allowed, if
related to business ac-
tivity. You: may discuss
business with a client over
lunch or a drink in a club
just as you would in a
restaurant or bar. It is
your personal membership
dues which are not
deductible,

If you are self-employed,
you can now deduct wages
you pay your spouse if she
is employed in your
business. It is worthwhile
paying the wages because
any investment income
from them can be at-
tributed to your spouse, not
you. -

Hf you are unsure about
deductions, you should
consult your tax advisor or
chartered accountant.

SFU bursting at |
enrolment seams

Simon Fraser University
ls “bursting at the seams”
and unless it can find the
money to accommodate all
the people seeking to
become students it -may
have to take action fo limit
enrolment,

University president Dr.

K. George Pedersen says -

the problem is becoming so
acute he is setting up a
committee to explore ways
and means to keep student
sumbers down to a size
that will not threaten
SFU's educational stan-

Pedersen says enrolment
increases in the fall and
spring semesters have
pushed the University
almost to capacity. Nearly
11,000 students are enrolled
in SFU programs;
classrooms are full and
cafeterla and parking
facilities are taxed to their
limit.

"I bave discussed the

ministrators and the
feeling is we can probably
stand just one more in-
crease similar to those of
the past two semesters,"
he says. “We obviously
cannot remain oper-ended
as far as enrolment is
concerned,”

Delays in funding ap-

proval for new buildings
have contributed to the
problem and the size of the
University’s cperating
budget has not kept pace
with the spiralling
enrolment, -

Dr. Pedersen says the
University has a relatively
large number of in-
ternational students and
one way to limit enrolment
might be to determine a
fixed proportion of such
students.

Om the other hand, he
asks, would the University
be able to enrol in-
ternational students when
it is turning away

matter with fellow ad-- Canadians?

LETTERS WELCOME |

PRDFE the dint groups wehed inthe £ Saiudor onisis..

4
4 3

AMELIE MS

te centre.

“Aren't we going a bit fast, driver?... driver?”

Kempf strikes —
out at Kemano —

By JACK KEMPF
Once again the Kemano build additional smelters In
Completion issue isin the — our province for the
pews! This time { have — provisionof jobs for British

raised it and I believe for
very good reason.

It would appear that
quietly and methodically
the Aluminum Company of
Canada la moving ahead
with expansion plans.
These plans, from all that 1
have heen able to wn-
derttand, would require

‘he: hydro électricity

acquired from Kemano
Completion.

Admittedly, and perhaps
we should not be too hasty,
Alcan’s environmental
studies have not yet been
released and just possibly
they will show us how the
project can be developed
without the devastation of
the Nechako River eyatem,
but I doubt it.

Kemano Completion is
predicted on the need for X.
‘amount of water to turn
additional generators. Asi

. seeit that is very near the

sum total of available
water in the system with
the diversion of the Nanika.

. How any studies are going

to prove that the Nechako
Valley can do without the
minimum amount of water
which new flows down the
Nechako I don't know.

On the political side of
the Issue it has once again
been auggested that [

. Might cross the floor of the

Legislature should the
Government, my
colleagues, not turn
thumbs down on the
project. And it may very
well come to this,

Presently, however, I have
merely put my Caucus on
pote, in the strongest
terms which are available
te me, that the people of
Omineca are not in favour
and, in fact, will not stand
for our rivers being taken

- from us.

In speaking out it's boen
suggested by some media
that £ might be anti
development - not so!
Should we wish Alcan to

Howard demands _
MLA’s resignation —

Frank Howard, NDP
House Leader, sald that
unless the provincial
government withdraws
from the development
process it has entered with
Alean regarding the
Kemano Completion
Project, Socred M.L.A.
Jack Kempf will have to
fulfill his promise to resign

fram the Socred benches.

Howard said, “Alcan and
government officials met
on December 15, to discuss
procedures to be followed
to bring the Kemano
Completion Project to
frultion, On Janwary 7,
AL. (Sandy) Peel, Deputy
Minister of Industry and
Small Business
Development, wrote to
John Runkle, Vice
President of Alcan, con-
firming the statements
made during the December
18 meeting, Peel said in
part, ‘...lf the same apirit of

. Cooperation continues to

exist during our joint
review and evaluation of
Alean’s importadt.. but
complex development

‘proposals both =the

Columbians then let us, in
our wisdom, find them the -
hydro electricity required
without diverting waters
and without ruining our-
beautiful rivers. -

On, the question of my
crossing the floor on the
issue - well I guess that
would ‘be up to you, the:
people of Omineca. From -
where I sit now {t would
certainly appear that your
majority feeling is against
Kemano Completion and
T'm your servant. Pvesaid
this before and I'll say it
again - the only reason for
me, a8 your represen- —
tative, to cross the floor of
the Legislature would be to
benefit you, the people of
my constituency.

I believe very strongly
that ] am in Victoria only’
on your behalf, And it is
you and you alone from
whom I take my direction, “

In the months ahead 1:
will continue ta high profile
the Kemano Completion
issue untll someone makes

a definite move to either ~

drop the project or find a
viable alternative, Being a
skeptic and wary of both
Alean and B.C. Hydro, -1
believe that it will be of no

"use to close the barn door -

after the horse has filed. .

We in Omineca have
given enough of our en
vironment = to
projects already. For
those who are disbellevers
take a look at the Lakes
District chain of lakes.
Actually many of us in the
aren supported this
development in the early
‘80’s but let someone else
give now.

Your comments and
concerns on this issue
would be gratefully
received and I look forward
to bearing from all of you.

Please call or write
Parliament Buildings,
Victoria - 387-3038 or
Houston Box 1240 - 645-2648,

government of British
Columbia and Alcan will
benefit.”

Howard released a copy
of the January 7 letter
which he says shows an
intention on the part of the
government to assist Alcan
jn getting the Kemano
Project underway. ,

Since that letter was -
written the legislature

passed the Utilities
Comminsion Act which
confirms the

outlined in the Pee) letter.
“In any event, 20 long a8
the government remains
silent about its internal —
Setivities, the encouraging
tone of the Peel letter is our
only guide. The govern-
ment has expressed a
willingness to ac.
commodate Alean within
limita, but nonetheless
accommodate Alcan.
“Unless there is com-
plete repudiation by
Government of its earlier .
arrangements’ and
procedures I'would expect
Kempf, a9 the honourable
gentleman he is, to resign
from the Socred caucus,"

_ says Howard.

‘a

The Herald welcomes its readers comments.
All letters to the editor of general public interest
will be printed. We do, however, retain the right
to refuse to print letters on grounds of possible
libel or bad taste. We may also edit letters for

style and length. All letters to be considered for

publication must be signed.

ot

PROFESSOR, YOU & DUKE WENT

TO AN OPERA LAST WEEKEND 2 .

UDO

MONTEVERDI

YES WE SAW A REVIVAL OF
A ie CENTURY CLASSIC BY

WASN'T HE THe GUY oN
THE MAYTAG COMMERCIALS ?-

at

Alcan.

Te eS ey or ge ge ae RS peice Se

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