Port’s cargo volume down

BUSINESS BRIEFS
Compiled by Kate Zimmerman

North Shore business groups and individu-
als wishing to sabardt dems to Husiness
Heiefs can fax them to the attention of
Kate Zimmerman ut 98S-2 104,

Cap College giving

Capilano College has given the
green light to a planned giving pro-
gram.

The programs, which have been
established for many years at the
university fevel, have never been
implemented in Lower Mainland
colleges. Cap College has attracted
planned gifts wort) over $3.1 mil-
lion since beginning the program
last fall.

“Post-secondary institutions are
looking more to private donors for
support as public funding continues

A rare ‘p

ONCE IN a blue moon the govern-
ment comes up with an idea that
gives the long-suffering taxpayer a
welcome breather.

By Rick Bates
Contributing Writer

A case in point is the Home
Buyers’ Plan announced in the 1992
federal budget. Under this plan, eli-
gible Registered Retirement
Savings Plan (RRSP) holders can
withdraw up to $20,000 tax-free
from their RRSPs to help buy a
home in Canada.

._ The plan was so popular — over
100,000 RRSP holders have taken
advantage of it, to the tune of $2
billion — that the original one-year
deadline (to March 2, 1993) was
extended to March 1, 1994,

It's called the

50/50 Bonus Pak.

Act now and get unlimited
local calling for your first
50 days. After 50 days,
you'll still get:

Io tighten.” said Randi Duke,
Executive Director of the Capitany
College Foundation. “We intro-
duced this program because canti-
butions from private benefactors
have become increasingly more
important. The response from our
community has been incredible.”
Among the bequests Cap
College has received is five acres of
land on the Sunshine Coast, which
will serve as the lacation for a ficld
school for horticultural and envi-
ronmental science students.

Port volume down

The Port of Vancouver regis-
tered a total cargo volume of 61
million tonnes in 1993, down 4%
from the previous year,

According lo a news release
from the Vancouver Port
Corporation, bulk exports continued

to dominile the port's tonnage pro-
file. accounting for 84% of total
tonnage. At 50.9 inition tonnes,
bulk figures fell 4.76 trom 1992,
due mainly toa 5% drop in grain

tonnage from fast year’s total and } ;

tough market conditions.

One highlight of 1993 was the
Vancouver-Alaska cruise ship busi-
ness, which showed a 15% increase
in traffic over (992.

“Issues fucing the port — such
as labor -— affect a range of play-
ers, from terminal operators to rail-
ways, trucking lines and shipping
lines,” said VPC president Norman
Stark. “It's important. therefore,
that we address these issues collec-
tively, as a community. his is hup-
pening, and as a result, | am confi-
dent we will find innovative ways
to further improve our cost-effee-
tiveness and thereby increase our
volumes in 1994."

um’ for taxpayers

But, the budget of Feb. 22, 1994
has extended the program indefi-
nitely. As with most government
“good turns,” however, there are
certain strings attached.

First of all, for the money to
remain tax-free, it must be used to
purchase a home for your own us?
by Oct. | of the following year.

The amount withdrawn must be
repaid to the RRSP over a maxi-
mum of 15 years, with a minimum
annual payment of one-fiftcenth of
the amount originaly withdrawn.

Although you can pay more, or
less, than the required amount of
annual repayments, try not to pay
less. Any shortfall will be added to
your income for that taxation year,

A significant change in the plan
proposed in the 1994 budget is that
for withdrawals made after March

, 1994, the first payment may be
postponed until the second calendar

MOTORCLA
DPC 555

* Unlimited weekend calling

2 50 minutes business
airlime per month

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* Offer expires March 31, 1994, Same cestecrions apply. Call us lor details,

NORTH SHORE CELLULAR LTD.

1234 MARINE DRIVE, NORTH VANCOUVER

1/2 Block West of Pemberton

984-7017

year after the withdrawal.

Rick Bates ix assistant professor
of accounting & finance with the
University of Guelph.

For one week only
we are offering you

IM PERKINS
VICE PRESIDENT

this special promotion.
Buy 3 custom made suits
Regular price *1,316° each

at our 1989 prices of

Invites you toa
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REDUCE YOUR TAXES BY 50%
WHILE PRODUCING A STEADY RETURN,

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For reServations
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