16 ~ North Shore News — Wednesday, March 15, 2000 ook might Bay for itse IT’S big — and not exactly bedtime read- ing. But it could sure make a big difference in the amount of income tax vou pay. This year’s edition of Preparing Your Income Tax Returns (CCH Canadian, $45.50) — a perennial best- seller — features a 13,000- word “summary” of changes for aie 1999 tax filing vear. Some changes, like the lower federal surtax, affect almost everybody. They are built in to the tax return so you can't miss them. For other items, it’s “use ‘em or lose ‘em,” like: & Welcome back, averaging. In the good old days, you could average a lump sum of income over several years instead of paying a whopping tax because you had to 14.4 Volt Dril/ Driver Kit 3650K, 2 Batteries, Charger, bit & cese 10” Slide Compound Miter Saw 3915, dual guide rails, 10 miter detents, 60 tooth _ carbide blade ; *594°° y. 24 Volt Combo Kit 3960 CFK, Greular Saw, Drill/Driver, Light, * Z botteries, charger & case nioney matters declare the whole amount in a single year, Good news: Averaging has returned for certain lump sums received after 1994 for tax years after 1977, Volunteering pays. First it was a $500 exemption, then a $1,000 deduction and now it’s a $1,000 exemption — for income received by a vol- unteer firefighter, ambulance technician, or search and res- cue or other emergency vol- unteer. More good news: 107 Worksite Table Saw 400075, Portable, 4.4 HP 40 tooth Carbide blade 5649°° 2 DAYS ONLY WEEKEND DEMO SALE MARCH 18 & 19 FACTORY REPS ON LOCATION FOR DEMOS AND QUESTIONS TOAm—3Pm SATURDAY ONLY 24 VOLT SERIES n> HIGH TECH This exempt $1,000 still counts as earned income ro boost the amount you may claim as child care expenses. @ Mutually you receive shares in a mutu- al life insurance company that converts to a stock company, you will pay capital gains tax when you sell the shares; other benefits will be taxed as Canadian dividends. Both capital gains and dividends get tax breaks. & Just fine. You should nuw be able to deduct fines and penalties incurred in’ the course of business as (sideline or full-time business} expens- cs. @ Taking care. The caregiver amount has been extended to your spouse’s infirm live-in aunt and uncle. Legal fees. You may deduct legal fees paid to enforce or fight the reduction 12” Compound Miter Saw 3912, 15 amp, 3 HP. electric blade brake *Aagqgoc 24 Volt yr Dril /Driver Kit 3960K-CC Drill/Driver, 2 batteries, charger & case Noyth Vancoby , ~tecation: On beneficial. If of support: payments — even though child) support isn’t taxable. @ Top rate. But it’s bad news. Starting in 2000, Ottawa will tax at the top per- sonal rate dividends from unlisted corporate — shares (typically in a family compa- ny) and certain business income children receive from their parents” business. “Entreprencursnip clearly has no cachet with the pre- sent government, which seems to feel that in the modern economy entrepre- neurs are merely redundant employees, and should be taxed as such,” commented tax lawyer Michael Mallin, co-author of the CCH if with tax advic guide. Mike Grenby is a columnist and independent personal financtal adviser. He'll answer questions in this calumn as space allows but cannot reply personally. Contact him at P.O. Box 50629, South Slope R.P.O., Burnaby, B.C. V5] 5G3; e-mail . NEWS photo Torry Peters SIDEWARE Systems Inc. corporate relations manager Richard Simpson shows the North Vancouver company’s customer service software on screen. Sideware claims market lead From previous page Relationship Management Technology with IBM _ prod- ucts to provide an e-business backbone for small companies to large corporations. Sideware is a Java developer. Java is a programming lan- guage developed by Sun Microsystems. Dr. Bean was built using Java and Enterprise Java technologies. The interac- tive software tool is supported - by customer service representa- tives. Sideware has risen from the ashes of Evergreen International Technology. Evergreen) was run by Lawrence Kostiuk, who went Load funds 980-0097 at zero front end Over 20 years of commision. investing experience Spoaveted in patty | MONEY Fi] Madani ses Money Concepts Gerop Capel Corp and NEMS tovuratue Apecey tac t For everyone who prefers to use a good map The BDC.‘ onsulting Group can work with you to develop a sound strategic plan and ultumately map out the progress and success of your business. Call Ron Pyrch at 666-5710 / wwwbde.ca Canada BDC Pusiness Orvelopmest Sank of Canada ts Business For Swati Business on to face securities offence charges. Evergreen’s core product was Jot-It! an elec- tronic stickies product. Jones took charge of the company in 1995. The compa- ny was renamed and refocused. Said Jones of the shift, “If you really look at Jot-Id! we had two products in the mar- ketplace. One of them was a product called Tag Alongs, which was a post-it product, and we had a networking mes- saging system called Net Notions. “Developing Net Notions we became aware of the need for a customer service product, so we started to. experiment with prototypes. We made the decision to re-engineer the Weekly company as an IBM business — partner focusing on integrating a customer service product into IBM’s product stack.” Sideware now has a high level strategic relationship with IBM. The company’s growth has been financed through pri- .. vate placements. To date this ” year Sideware saw a high of $25.50 a share in January and a low of $7.75 on the Canadian Venture — Exchange. . On Monday it traded at about $12. - Said Sideware corporate - relations manager Richard 'S. .. Simpson, “Our biggest chal- - lenge is meeting of the demands on us. 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