Winnipeg Free Press

Winnipeg Free Press (Newspaper) - November 12, 1989, Winnipeg, Manitoba Winnipeg free november 1ft residential mortgage rates As of Able mortgage finders Assiniboine credit Astra savings credit Bank of Bank of Nova Bison mortgage Caisse Populaire cambrian credit Canada Trust carpathia credit Central guaranty Central guaranty Cibic mortgage confederation Trust cooperative Trust Coronet counsel Crosstown credit Alchris mortgage firs line mortgage Hansa credit holy spirit credit byline credit Inland investors Laurentian Bank of London life insurance Mary Allison Mage services Montreal Trust mortgage National Bank of National North West North credit Union peace Hills Trust Presnor Trust of Progress Vera credit Union Roya Bank of Royal Sigmar mortgage Sun life Assurance the Mutual Toronto Dominion total mortgage source mpg real estate Board Winnipeg free can tax system be fair to All Alberta Energy filing prospectus Calgary up Alberta Energy announced it is filing a final prospectus for an offering of million common shares priced at each to raise the net proceeds will be used primarily to reduce with the balance to be added to working following completion of the there will be million common shares of the Calgary based natural resources company underwriters for the Issue Are Richardson greenshields of Canada Scotia Mcleod rec do minion securities Wood Gundy and Midland Doherty Inland and two names Worth recording from audio cassettes to video cassettes and everything in nobody has recorded a better partnership than 3m and we Stock color plus Ems and Beta video including the new super High Grade designed for and color plus for mat Standard and Mibu for audio recording we have scotch ave and inc plus the full Range of scotch open introducing video and audio duplicating Inland audio visual sight and sound for Ann 1781 Wellington Winnipeg 7866521 Quality products and serv Lut free seminars on Money management wednesday november 1989 relax Plaza portfolio planning the right mix of guaranteed investments and growth funds in your portfolio thursday november 1989 relax Plaza retirement planning creating maximum retirement income through Grifs and free door prize draw be an informed consumer Call 7884o40 or 9424636 24 to Reserve your seat the people place Lor Money management Rice financial the economic Outlook for 1990 and beyond How will you achieve your financial objective san the 90s Money concepts Canada presents Ralph Sultan economist and Northern group of funds Ralph Sultan formerly professor Harvard business school chief major chartered Bank member of economic Council of Canada chairman financial research foundation november 1989 at the Maryborough inn Call now to Register Jey seating is concepts y i j j 474 Northern croup is it fair for residents of far Northern and isolated areas in subject to harsh in higher living and Lack of to pay the same amount of tax As Canadas Southern residents this is the fundamental question that is at the heart of the finance departments dilemma on Northern residents and a recent task Force report on Northern tax payment incentives in the late the government discovered that Many employees who worked in Northern areas received housing and travel payments from their employers As incentives to work in Remote the value of these allowances were to have been reported As a taxable most employers failed to do this discovery started a complicated series of provisions in search of fairness by govern ments concerned with receiving their fair share of tax from Northern in after several years of a remission order was approved by the this order effectively allowed certain employer provided housing and travel benefits to be received tax by the time of the 1981 Federal plans were made to phase in the taxation of these but this proposal was not by discussions initiated by the department of finance regard ing the economic development of the North were dominated by the fact that both private and Public sector employers found it difficult to at tract and retain it was argued that higher salaries had to be paid due to higher living and that existing tax rates on this higher income led to a greater Burden for individuals in the As concerns were expressed that Only employees received tax not other Northern therefore in the Federal budget of the new Northern residents deduction was to be Eli Gible for housing and travel Deduc Northern residents must have resided in a prescribed area for at least six months to claim a residency deduction of a plus another a month if they were the Only claimants maintain a self contained Domestic a further deduction is allowed for tax Able benefits accruing from employ Evelyn jacks a provided medical travel and up to two vacation trips per the difficulty in claiming this deduction has been in ascertaining what communities qualify for in the qualifying areas can be described As follows 1 All communities North of 60 degrees n latitude Are eligible 2 communities located Between 55 degress n latitude and 60 degrees n latitude May be eligible if a population is less than people b they Are Over 80 Kilometres from the City or town Hall of the nearest Urban Centre c they have no Al weather 3 communities located South of 50 degrees n latitude May qualify if a population is less than people b they score at least 50 Points for factors relating to vegetation Type and Cli mate c they have no Al weather Road and they Are Over 80 Kilometres in a straight line from the City Hall of the nearest Urban Centre with Popup Tion of or More d they have an Al weather Road and Are More than 160 Kilometres from an Urban Centre of Popula Tion and Are Over 320 Kilometres from an Urban Centre with a Popula Tion of or 4 residents of communities that qualified under previous remission orders will be allowed to take the deductions until 5 certain communities Between 55 degrees n and 60 degrees n latitude which do not meet the above criteria will qualify for a phase out deduction for the last time in the result of All of these complicated criteria is a listing of thou Sands of communities that May qual Ify As a prescribed or previously prescribed area eligible for the Northern residents de spite the deduction rules continue to be seen As unfair by Many taxpayers who live in a Community that does not qualify for the while their who shared the same services and environmental received the the task Force consulted with residents and organizations of 76 locations in Canada and received one thousand the primary recommendations received were that eligibility for tax benefits should be determined on a regional tax credits should be used As opposed to tax no deductions should be allowed at As people freely decide where to and that Large communities should not in its 70page the task Force recommended the following to the finance department 1 that Only people living North of set boundaries should qualify for special tax this Northern zone includes Yukon Northwest and specifically outlined Northern parts of British and this zone is characterized by sparse Little or no Road Barren landscape and harsh 2 other government programs should be used to Deal with unemployment issues and the attracting of stable labor forces in areas out Side of the Northern 3 direct regional development pro Grams should be implemented to meet objectives of developing the Economy of the 4 a oneyear transitional period should be allowed to implement the new 5 tax benefits to Northern and isolated areas should be reviewed this report has already been met with severe the final so Lution to the problem must Deal with the question posed at the Start of this and this final one to what extent should the tax system be used to compensate per sons living in the North without a Clear answer to this question the question of tax benefits to Northern residents will Likely re main both Complex and Evelyn jacks is director of Edu cation at u r tax Grain Winnipeg Grain quotes Friday for basis prices feed Oats 1 cd 2 cd 3cw mixed Grain jul sep 147 own High Low dose feed Barley Thunder thus sales 40jj30 dec 2cw mixed mar Mojo May 1 cd 2 cd july oct 1 cd 2 cd cola Leafs nov Jan 31120 mar Jun set 3295 re dec mar May canola in store Thunder Bay 1 Canada in store Vancouver 1 Canada feed wheat Jred Spring can feed Export Lawrence 1 cd pet 1 cd pet 2 cd Pel 2 cd pet 3 cd 48 pet nov Jan mar May jul a sep sales soybeans july 2 durum sales barter tender nov dec mar May Barley Thunder Bay special select 6row select 6row special select 2row select 2row Jan mar Oil july nov dec mar of May closes july High Low Clow sales Oats nov dec mar dec mar Jan meal 115jo 182jo 18170 1b3jo May july Barley feb Mies May aug nov sales farm food produce commodity Exchange vegetables Crescent fruit wholesale quotes cabbage Green radishes 1126oz poly tomatoes 6x7 Green onions onions potatoes 1 red mushrooms lettuce 24s per carrots new Crisp 242 poly agriculture Canada quotes eggs prices to producers Canada Canada Canada Canada Canada pee Canada Canada Chicken live 1 prices to producers set by the Manitoba Chicken broiler producers marketing Board broiler under broiler to roaster and turkeys live Grade a prices to producers set by Turkey marketing Board broilers hens Toms and Chicken eviscerated to Consumers fresh under 2 Frozen under 2 Frozen 2 pkg and turkeys under 5 and grains and oilseed on the Winni Peg commodity Exchange closed higher drawing strength from their local demand and a Lack of significant Selling also combined to sup port flaxseed values ended the Day to higher in Light trading with december at flaxseed ranged to lower Over the under pressure from commercial Selling and the approach of the end of the shipping did you know that thousands of Manitoban follow the financial advice of a five year old this five year old has nearly a Century of combined financial experience Premier Canadian has achieved Success by offering people what they want informed advice on their personal a Premier Canadian financial consultant helps you determine and quantify your financial goals and your consultant then assists you in developing strategies to meet those you choose whether you prefer a fee for service or a fee plus com Mission engagement where Premier assists in the implementation of your when you become a Premier Canadian you gain Access to the expertise and experience of a team of insurance and investment we will refer when to the individual or organization that will provide the Best service for your in this your objectives remain the to arrange a free initial con tact Stacey James at 9494700 or Premier Canadian securities suite 600330 Mary my r3c 3z5 your source of Independent financial advice we wish to acknowledge the following firms that have worked with us to provide the highest Quality advice and investment services in our first five years Loring Ward investment counsel Taylor Mccaffrey Chapman Sigurdson Vertlieb Royal Bank of Canada Wellington Bradford 220 Portage Avenue Bolton Tremblay funds Penner properties Westem Price waterhouse chartered accountants vent Ana development corporation master equity funds trim Ark investment management on the positive Low country movement relieved pressure from the local demand Lent additional Strong exporter aided by Crusher bolstered canola commission houses and locals were mixed ending net buyers on Chicago values gained to with november at Japan purchased tonnes of canola reports of total Export sales to Japan this week ranging from tonnes to exporter pricing of overseas sales bolstered canola prices this week despite the softer tone in Chicago soybean Crusher buying was also steady hedge Selling kept a lid on prices gained to Rye Rose 60 cents to 80 cents in listless december was exporter demand in Rye was con Stant through the and against steady line elevator created a Good level of prices were lower to coarse grains ended higher in very Light trading Commer Cial buying easily absorbed Avail Able wheat advanced to with november at Oats were up to with november at Barley gained 70 cents to 90 cents with november at and West Ern Barley Rose to with february at commission houses were on the sidelines in the Grain pits through most of the reluctant to take on positions ahead of the department of agriculture production estimates report which was released hedge Selling was also no nexis Tant and the markets traded quietly with Light inter month spreading providing most of the Winnipeg livestock Early sales were Low Quality and British Breed feeder cattle at the Winnipeg stockyards most sales were at thursdays a very Light Supply of steers and heifers sold at steady Slaughter cows Good Quality sold at steady prices with the poor Quality and condition cows Selling under pressure at lower Good bulls sold thursdays feeder cattle were mostly poor to average the demand was average at Best with prices appearing barely with the exception on a few Small lots of Short keep feeder steers which sold fully steady to Sla tiler thursdays Slaughter cattle prices a1a2 hellers cows d1d2 Witt sales to 00 03 cows Good bulls sales to Fader Clatk thursdays feeder cattle prices steers Over to ibs with sales to hogs 0 the Manitoba hog producer marketing boards estimated Price was wo75 cwt thursdays average was cwt on sates of estimated weekly sow prices 1 sows dressed cwt 1 live sows cwt 2 sows dressed cwt during the week Bacon hogs sold at an aver age Price of ;