29 - Wednesduy, Muy 18, 1988 ~ North Shore News

JBuSINESS | ——- a ma © — = " an

SUNDAY

Transfer Waal eee i nena | 0-7 12
: . | B AHOLIDAY

of assets | i, 1-1) let — oe wg \roNoaY
simplified |

Finance and Corporate Relation; ~
Minister Mel Couvelier recently 9°
anounced changes to the Social: :
"Service Tax"Act that will make it. | &

_ easier to ‘transfer business assets
among related corporations.

_ if These amendments, . effective -
April” 15,1988, will allow greater“ }
flexibility for the business -com-
munity,””. Couvelier said.

. i» Regulation 3.14 under the Social

co Service Tax Act ‘permits’ transfers

_ Of business assets between related
business entities without tax under
certain conditions.

This new regulation exempts : Jf : : a .
assets transferred to a-newly in- | a : Agree II “ -
corporated company if the assets. | Seldane ; / . Shion or _ Secret Anti-
are available to the new company j. - . ° . a Conditioner. - ) 1 20 inl, spe 60 ml.’
on its first business day as longas §- 60 my-24 tablets = 2X2 - ] 30 mL. jplus 09 el, . ; roll-on or 55. solid made
tax was paid on those assets before © L, serum ensas uagmmcvumcines ie . snore —— : tick
.the transfer: ; § . . : : aan : ;

; Previously,. the regulation. re-
‘ quired. assets to be transferred at

_ the time of incorporation, . -_

It: also’ permits the exempt trans-.

. fer of assets to a shelf company —

. a company incorporated ‘and then

_ held for future clients — providing |.
‘tax.was paid on those assets: before 4

"the transfer.

“Further, (when “business. “assets”
oe Bre. transferred exempt from: tax. |
~ between”..parent” and subsidiary

’ corporations, the relationship be- | RC STORESONLY

“oe tween’ the corporations must -be Ob gy Vy pine rites | Strength,
: “) maintained for.a period of at least... ; a .: io ; _ S00 mi. Nguid' or | n eer a
7 pon PRO 20 tabfets a Pe. of op tablets fe Lisa J.

, .eight_months ‘after the transfer, has >

Save up ta 25% off our, aaa
| entire aglection of Lisa J Bat
: Cosmet

ave 25%:
“entire selection of »,
oMision ‘Ald Reading." :
: _ Glasses:

B . ‘the purchase of any
‘ee bosom Free * jn rine peodact by Vic!
Hold Non-aerceal airaprary

Femmes ince appa ‘se "Merit B&@C:
look Pressure and My i
Vitamin B Coumpound
| Forte with C, 100 tablets ©:
95 | plus 40 more.

Revion Super. Lustrous
« Lapstick -

ble in our Strat=

| 50 mili or Sg, ~ : 750 'm a ss 250 mt more. ms Es ail
{ford or Galt locations.

of aerosol ” , : Regular or Peppermint.

: i ; iH oe i: a Hours: . :
Worth Vancouver: " Mon., Tues., Wed. , 9:30 AM
* Capilano Mall 988-6311
935 Marine Drive, « He Thursday: and Friday. "9:30AM =:
. Moe : ‘Saturday - 22% 9:00 AM.

North Vancouver Do.” Sunday - 11:00 AM-