Page 18, March, 41979- ~ Sunday News _ i

“TAX. TIPS ...

‘Help for the small businessman —

~~ Quction: On May: 1;1978, 1 — ~ Once: you have sidan
_ Whee det report m tacome

"from this business?”

_ Answei si Tis tioen e earned

from the business is reported. a
-. on the basis of a fiscal:period .
. ending in the-calendar year.

The fiscal. period. may
-- coincide with ‘the calendar
year.

longer than 12 months.

December 31, .
but must not exceed.a period

the fiscal. period: of your °

‘business, you must’ receive

"the: ‘permission “of ‘Revenue’ *
. Canada, Taxation if you wish

to change the year end.

For further information

ask your. District Taxation

Office. for the pamphlet
“Income Tax and the Small
Business.”

Question: I use my. ‘personal

’ | car for my small business.

| - CORONATION CREDIT
CORPORATION LIMITED

yrrICkr OF PA

Se ee

4 Cae ECIV PT:

FOR SINKING FUND PURPOSES *

TO THE HOLDERS OF 6-%% Secured Notes Series Seven

"February 15, 1960 made between

Coronation
. poration Limited and The Canada Trust Company, as Trastoe

NOTICE IS. HEREBY GIVEN ‘THAT pursuant

to the

visions of the said Trust Indenture, the underlisted 6-4 %

| Notes Series Seven of Coronation Credit Corporati
Limited have been drawn by a lot for redemption (in whole or
inkine fund i will 'b ;

Cou
GD0045 G
GD 0072 GD0258

Fully Registered Bonds in Denominations of $3,000 in whole:

GFR 0020 GFR 0062 GFROI130 GFR 0151
GFPR0025 GFR0092 GFRO131 GFROISS
GFR 0051 GFR 0093 GFROL40 GFR 0169

on

on

GFR 0217 GFR 0295
GFR 0225 GFR 0314
GFR 0289 GFR 0455

Fully Registered Bonds in Denominations in excess of $1,000 called to

the extend shown:

GFR 0009 to the extent of $1,
GPR 0080 to the extent of $13
GFR 0127 to the extent of $1,
1,
i.

PEECEEEEEEEEL Eerie Es

GFR 0128 10 the extent of $
GFR 0219 to the extent of $
GFR 023%6 to the extent of $4,
GFR 0237 to the extent of $2,
GFR 0239 to the extent of $1 |
GFR 0259 to the extent of $1.
GFR 0261 to the extent of $1,
. GFR 0269 to the extent of $1,
GFR 0288 to the extent of $2.
GFR 0291 to the extent of $1,

GFR 0311 to the extent of $2,
GFR 0358 to the extent of $1,
GFR 0401 to the extent of $1,
GFR 0440 to the extent of $1,
GFR 0497 to the extent of $1, “000 .

of each of the Bonds so drawn (in whole or in

part) being onc husdied per cent (100%) of the principal amopat

cred
to the

April 1, 1979 in the case of fully
the interest cheque mailed prior to

te amount will be
to the bearer thereof and in ¢
registered holder thereof u
of the Bonds with all unpaid coupons (
any Branch in Canada of the Bank of Montreal.

td in the case of
case of registered

presentation and surrender
any) appertaining thercto to
Accrued interest to
-gatered Bonds will be included in

i date and in the case of coupon

Bonds will be paid in the normal way upon presentation and surrender
of the © April 1, 1979 coupon at any Branch in Canada of the Bank of

Mon

AND NOTICE IS FURTHER GIVEN THAT in case the Bonds
specified in this notice be not presented for redemption (in whole or in
part as above provided) on the said April 1, 1979, all interest thereon,
of on the proportionate amount thereol to be redeemed, shall cease to

ibe payable from and after April 1, 1979 and c
the said Bonds maturing after the said date shall

ify ae for interest upon
oid.

FURTHER NOTICE IS HEREBY GIVEN THAT as of February ESth.

1979, the following Bond:
Partial Redemption of April 1.

s ccmened outstanding from the previous

Coupon Bonds in Denomination of $1,000 in wholc.

GM0619. GM1454 GM2118 GM2220. GM247% GM3187
DATED AT VANCOUVER, this 15th day of February 1979.

CORONATION CREDIT
CORPORATION LIMITED

BY: The Canada Trust Company, Trustee

v

Tas

How do 1 determine how
much expenses I may claim
onmy. taxreturn? ,

Answer: . ‘When’ ah’ asset- is
‘used partly for. business and.
partly for personal use;. you -
may claim the so tocwred

determine
allowable portion, a record -
must be kep of ‘the total ©
miles driven in the year and
the total miles driven ‘for.

. business , purposes. These

figures, used. as. a. fraction,

_are then multiplied by the

‘total’. automobile expenses

for ithe period and the

‘amount of ‘auto. expenses:
which may be claimed on

_ your tax return.

.. Fora more detailed ex-
planation, ask your District
Taxation Office for In--
terpretation “Bulletin 180, |
“Automobile | Expenses
Claimed by Sel Employed

" Individuals.”

Question: What expenses
may. Aclaim against income—

~ froma small business? _

Answer: Each business or
businessman has expenses
which are deductible in

Aevestors
Executive and
Corporate Division.

B. |. Wardas —
401-640 West
Hastings St.
682-5431 |
Investors Syndicate
Limited is proud to
announce the ap-
pointment of B. ]j.
Wardas as Senior
Consultant in the Ex-
ecutive and Cor-
porate Division in the

Vancouver area.

The Division will
provide a profes-
sional, comprehen-
sive financial planning
service to people re-
quiring an in-depth
financial review and a
complete program to
achieve their financial
goals. The Consul-
tants will also help de-
sign employeebenefit
programs for cor-
porations and pro-
mote business growth
and continuity.

the

computing “net

however, - there ‘are no

specific types or amounts of.
| expenses which -everyone :

can claim.-

Generally, all: reasonable |
expenses are. deductible
that they are.

viding
incurred for the sole purpose
of producing i income. .

Question: ‘To am. the
‘proprietor .of a
- business.- should I file
with my tax retarn in respect
of my business? .

Answer: When filing your

‘income: i

_are required;. however, all

“

youchers supporting the
figures. on: .the~

- “No supporting , documents

- financiat - :

- Statements must’ be kept for . he

Question: I incurred ‘some -
corporation isto.

-small ~

income, tax return you must .
file financial statements. The .

t is requ Cad are

Balance Sheet, Statement of

Income and Expenses and if,
applicable, a Schedule of
Capital Cost Allowance.

posible future verification or
‘to. be-

request.

a

losses last everal aks I
disposed of. sev shares.
from » Canadian controlled

private corporation.. Are
these losses deductible? °

Answer: These losses are

known as “allowable
business investment losses.”

Commencing in: 1978 half of — “

these losses will be

sepmine upon a

“your
- children, | grandchildren or
great-grandchildren you -will ©
‘be allowed to defer up to
$200,000 of any ‘capital pain.
The $200,000 ‘is a: life-time

maximum, =

‘

deductible for tax purposes
against income: from any
‘source. For gq ing in-
formation see Guide Item

For more “information ‘see ;
‘ousel Item 16E or ask: your
trict Taxation Office. for

the pamphlet “Income Tax

and the Small Business.”

“HALLELUJAH” says North Vancouver Lion Robert A. Labron (centre), Chairman
of the Board of the British Cotumbia Lions Society for Crippled Children upon receipt
of a cheque from the Provincial Secretary Hugh Curtis (right). Funds will go to the
newly acquired third Lions Easter Seal Camp on Lake Shawnigan where 300 Island
handicapped children will enjoy a summer camping holiday this year.

VANCOUVER COMMUNITY COLLEGE
| CONTINUING EDUCATION

DOWNTOWN PROGRAM
Smalt Business Seminars At Robson Square

Tuesday, March 6th - WHAT THE SMALL BUSINESS OWNER SHOULD
KNOW ABOUT WORKERS’ COMPENSATION
What -should you know about the WCB?’ What are the mandatory
responsibilities of the employer to the WCB? What paperwork is necessary
to register and pursue a claim? Find out from Grant McMillan, Director of
Information and Education for the Workers’ Compensation Board.

Monday, March 12th - HOW TO INSURE A SMALL BUSINESS FOR LIFE,
DISABILITY AND RETIREMENT

Jim Rogers, a focal insurance consultant and author of the book “Life in-
surance for Canadian”, details what the Small Business owner needs to

know abo

ut insurance. He’ ll cover various aspects of Small Business Lite

_ Insurance, Disability Insurance and Retirement Insurance.

Contact us at: -

Vancouver Community College

Continuing Education
324-5323 or 324-5324