20 - Sunday, December 29, 1985 ~ North Shore News

Investor gets break

From Page 11

to get away with paying no
tax whatsoever. So it is fair,
in that no longer will half of
all the taxes paid in Canada
be coming from those who
earn $34,000 or less.

It is also fair to high-in-
come earners, in that it
doesn’t totally eliminate the
tax breaks they enjoy from
making money through in-
vestment, rather than
through a salary.

Why?

The answer can be found
in Wilson’s Dec. 4 speech
to the House of Commons.
“A ininimum tax must also
be consistent with. the valid
social and economic goals

for which tax exemptions
have been created over the
years."’

Translated, that means
Wilson still wants high-in-
come earners to sink their
money into Canadian in-
vestments, Which are favored
by the rules governing 1ax
treatment of capital gyins
and dividends.

So the “investor” still gets
more of a break «nan the
“employee’’.

According to statistics for
the (983 tax year (the mast
recent statistics available),
more than 12,900 people on
the North Shore had in-
comes of $40,000 or more,
and could be facing the
alternative minimum = tax.

Interior & exterio

Residentia

Coastline

‘Maintenance

‘Ltd

: : lo ' @Q
HOUSEHOLD CLEANING HINTS

ors can be made to shine by applying baby oil occasionally.
‘Thank you and have avery Happy New Year.

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