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“PROJECT A A MORE ‘SUCCESSFUL IMAGE

LEASE a PRIVATE OFFICE WITH SHARED: SECRETARIAL
‘AND CLERICAL SERVICES.’ :

“ . "6 Beautife iby‘

os

‘ Kamioops: 345 -
-. . Kelowna: 1449 St Paul Sueet viv 2E4

‘appointed |
® Prime: downtown location

+ Featuring the latest in word processors

and office equipment.

“FULLY FURNISHED.

EMPLOYERS — Here's a chance to add the summer staff you'll need to
get those extra jobs done. You provide a worthwhile work experience for a
young man or woman this summer and the Province of British Columbia will

- Share the cost of wages with you. -

You'll be working with the Ministry of Labour to create summer jobs thal provide
opportunities for B.C. students and unemployed youth to learn work skills. It's a
simple system that requires a minimum of paperwork yet lets you heip yourselt

and the economy jn a positive way. British Columbia businesses of all kinds and
sizes can benefit. Once yoyr application is approved. you're free to hire any

eligible young person or take advantage of the Ministry of Labour's computerized
‘referral service to locate an employee with the talent and intefest you require. But *
‘aci today. The program 1s available for a limited time only. Should your situation
change in the meantime, you are under no obligation. Here’s how it works:

BUSINESSES AND FARMS —
If your business or farm has been in
operation for at least a year. the

(Ministry of Labour will heip you pay the
wages oi up to five young people this

summer. We will pay between $1 30.

and $2.50 an hour as our share of the

cost.

HOW TO APPLY — Applications for funding are available trom any Provincial
Government Agent, Minstry of Labour Office or one of the B.C Youth

Employment Offices listed below

LOCATION
VANCOUVER ISLAND REGION

Courtenay: 576 Engiand Avenue V9N 5M7

Nanajmo: 66 Front Street VIR 517

Victoria: 808 Douglas Street Vaw 2B6

INTERIOR REGION
Cranbrook: 12A 1
3rd Avenue Vv2C

Nelson: 601 Front Street vil 4B6

Penticton: 301 Main Street V2A 588
Vemon: 3306 - 32nd Avenue V1T 2M6

LOWER MAINLAND REGION
Abbotsford: 70!

NORTH REGION

Dawson Creek: 214 10401

Willlams Lake: Ste 1

From all other areas. call Operator for Zenith 2210 (toll tree) and an apphcation

torm will be mailed to you

APPLICATION DEADLINES:

BUSINESS/FARMS
MARCH 12, 1979

NOTE All applications received by the deadiine date will be carctully considered

for funding

Province of
British Columbia

Ministry of Labour

Employment Opponunity Programs

Ministry of Tourtsm

and Smal! Business Development

“FROM $415 PER MONTH.
| Please phone ¢ Gail V'Latondresse 689-7581

13th Av ae South VIC 2v3
M5

2630 Bourquin West V2S 5N7
All Other Lower Maintand Areas: 4946 Canada Way V5G 4J6

101n Street VIG 2H9

Prince George: 1663 Victofia Steet V2L 214 (Local 224 225)
Smithers: 3883 2nd Avende vO0J 2NO0

Terrace: 4548 Lakeise Avenue VBG 1P5

123 Borland Street V2G 1R1

sn

enjoy. such a simple life as

“we city slickers believe when

.. | @ certain ominous season
“} comes around.

7 ~s

Income tax’season and the
crop from his worn
| pocketbook is is harvested by

_the reapers of the tax
"department. oo

SOCIETIES — You are invited to
apply for funding for any worthwhile
project that provides an opportunity for
.young people to learn valuable job skills
this summer.

Tournsm Information Centres that meet
the standards established by the .
Ministry of Tourism and Smal! Business
Development are also invited to apply
tor funds under this program.

334-4403
753-6683
387.1431

426 2283
374 0078
763.9244
352-5378
492 7241
542 1397

B53 7497
?9t 2901

7B2 5296
562 BVI
847 4229
635 4997
398-6258

SOCIETIES
MARCH 2, 1979

- Farmer’ Jones” “may not.

_ (3) Non-deductible.

Let’ 's assume Farmer Jones

- has lost money last year on

his potatoes, carrots, tur-

nips, leeks and other
vegetables or on his hay or
cattle.

Maybe all is not lost,
Maybe he can recover some
of those crop losses simply
by correctly filling in an
income tax return.

How?
Farming losses fall into

three categories for income
tax purpose:

(1) Fully deductible on an

‘anrestricted basis, as in

other types of business
losses.
(2) Deductible on a

restricted basis, depending
on the amount of the loss.

per

tH Ot

The most important thing
Farmer Jones must
remember when he claims
tax rebates is that he is
farming as a business and not
asa hobby.

_ He will have to prove to
the prowling taxman that his
farm is indeed .a business

venture capable of making a

profit in the long-run and is
not being run simply for

personal satisfaction.
The deductiens don’t

apply just to full-time far-
mers. They also apply, for
example, to a person with a
job who owns country
acreage on which he raises
horses and hay. In this case,
however, the taxman will

YEP coordinator for
employment named

likely decide the person's
involvement is geared to
personal 3
recreation rather than long-
term profitability and
therefore. will restrict the

.. farming loss.

The basic objective of all
business operations, is, after
all, long term profitability.
But this doesn’ ’t_necessarily
mean that Farmer Jones has
to report net income from
his farm every year, or even

in any of the first few years. —
.-

This is because:

(1) It’s common for

businesses to lose money in
“the first few years of
operation. ,
(2) It’s not uncommon for
businesses to fall short of
profitability expectations.

(3) The cash basis of

calculating farming income’

may result in a farm loss in a
particular year, although
there would be an economic
profit under the accrual
method.

To convince the taxman
that the farm fs being run for
long-term profitability,
Farmer Jones should point
out:

(1) Other farms of com-
parable size are considered
businesses.

(2). Other government
agencies consider his farm as
a business by, for example,
granting farm assistance
subsidies.

(3) Operating methods are
like those of other farms.

Powecaety

417 Hornby treet, Vancouver 4 (

cP ase ec
Sduak ia

By Somvern aed Eros at

Val Iba

Phone (004) GBH 4.4

Morrviterr 0 asada L

Perymmet banurance (pe atee

satisfaction and.

loss willdepend on w

farming. loss against his othe:

. be deducted against far

mainly for

deductibility. of his farming

or whether bis main in
fannie aad anon ic

deduct the full fa
it it is the other case h
deduct only a portion

income for the year.

The deductible portion
determined by a formula
may not exceed $5,000.
non-deductible portion

income of the. ng
year and the five succeeding:
years in that order.

It’s up to the taxman
decide if Farmer Jones i
is not earning his main
come from farming.

It should be pointed:
that even in the event-he
no net income ina particular

, Simply, if if he « can prove
# genuine farming business
the taxman will rule
favour; if he's farming:
persona
satisfaction and not trying to,
make a profit, the taxman:
will rule against him a

restrict his loss.

Ingrid Fischer has been
reappointed as a field: :
coordinator in the Provincial 4
Government's Youth!
Employment Program. She!
will be based in Burnaby and :
will cover North and West ° *
Vancouver, the Sunshine’
Coast, Bowen Island and the . ;
area from Lions Bay to | :
Pemberton.

dinator with the
Employment Program. She,
has administered the
Business Program in
Vancouver and in ;
coordinated the local college
and university program.

The Youth Employment
Program secks to stimulate
summer ‘jobs for students
and unemployed youth. It
involves provincial
government funding as an.
incentive toward creation of
new jobs, with special
emphasis. on training for
entry into the permanent
work force.

CONTINUED ON PAGE 25