30 - Sunday, December 22, 1985 - North Shore News

Business

Minimum tax would net Ottawa $300m

From Paye 23
everything as income. All
capital gains - not just half -
must be included. Tax
shelters can't be used to
create losses, nor can an
RRSP, dividend tax credit,
or the interest income
deduction.

What the high-income
earners do get to subtract
from that income is, first of
all, a $40,000 exemption.
They can then also subtract

employment expenses, CPP
and UI contributions, child
care or alimony expenses,
charitable donations, medi-
cal expenses, moving ex-
penses, their own education
exemption, business losses or
capital losses from other
years, and exemptions for a
spouse, child ur disability.
The alternative minimum
tax will then be paid on
whatever is left providing
the new tax exceeds the tax

“4882 MARINE OF
“926: 03

Management
and Staff
would like to
thank all their
valued
customers for
their support
throughout the
year.

We wish you and
everyone a very Merry
Christmas, a Happy,
Healthy & Peaceful
New Year.

RANDM A's

"B70 Pans QDTAL Ww VANCOUVER 9266126

ahh,
\

The Natirully Good
Foods Glove

} 1025 Park Royal South
West Vancouver, B.C. B&
926-7016

that would normally be paid.
Complicating the calcula-
tions is the fact that the

mum tax exceeds the regular
tax can be carried forward
for seven years - to be used

of the regular tax paid in any
of those years.
Wilson estimates that the

add about $300 million in
1986 to the federal coffers
and will raise another $150

amount by which the mini-

20 :05020502020;02020:0;020202020:00:0:0:8
s © Merry Christmas | =
to all our

Friends & Customers

Roys Dry Cleaners

6458 Queensbury Ave., N.V.
987-3431

00) 22020010020 5020:0 1020101010

as a deduction against part

TOQUE GEQIIG:

=
id:

alternative minimum tax will million in provincial taxes.

COMPLETE WORLDWIDE | -
ex TRAVEL ARRANGEMENTS
“FOR BUSINESS OR PLEASURE |

“Prompt - Personalized - Multilingual |

Service at no extra cost.
Free ticket delivery

CALL: 689. 4G] YEReNs Funre

—Owner—
or visit our office at:
744 WEST HASTINGS ST.
. (AT HOW
VANCOUVER, B.C. VeC 1A5

* YOUR-EVROPEAN
: TRAVEL. CENTR

“WITH:
“swiss EFFICIENCY”

and look forward
to serving you
better in 1986.

... and remember
Let’s.all have a safe
and happy holiday!

... Please don’t drink
and drive.

MALL HOURS

Mon. Dec. 23. 9:30-9:00 pm
Tues. Dec, 24 9:30-5:30 pm
. -Wed, Dec. 25 ..Closed ..
. Thurs. Dec. 26 Boxing Day.
. Closed (except Woolco)..
Fri. Dec. 27 9:30-9:00 pm
Sat. Dec. 28 9:30-5:00 pm
Sun. 12-5:00 pm