Winnipeg Free Press

Winnipeg Free Press (Newspaper) - November 16, 1989, Winnipeg, Manitoba 12 Winnipeg free november untaxed billions upset Nystrom get nip critic says up photo Ottawa up More than corporations made billion in profits in 1987 without paying any and Ottawa should collect Money from them before imposing its proposed new sales nip finance critic lome Nystrom said what we have is a very unfair taxation system and when they dont and they certainly can afford to what happens is that the Ordinary citizen pays nys trom told a news but those figures Are since finance minister Michael Wilson closed most tax loopholes in 1988 and 1989 under the first stage of tax Tim president of the Canadian chamber of said later in an those statistics dont really say much about what the government has been doing in tax he Nystrom said figures provided to him by statistics Canada at a Cost of show corporations made a profit and paid no tax in the latest year for which that information is those corporations made a total profit of billion in these figures Are Only of historical inter said John press Secretary for they take no account of a Long list of loopholes that the government has closed on the corporate tax Side in the last couple of fieldhouse said replacing on the existing Federal sales tax on manufactured products with the proposed goods and services tax would make the tax system More the trouble with any proposal to scrap the get is that it leaves the country hobbled with the old St at per he Nystrom said statistics Canada did not provide names of individual firms which did not pay tax since income tax returns Are but Wilson should tax those companies instead of imposing his new nine percent goods and services Nystrom instead of imposing a nine percent tax on your kids pizza or movie or taxi drive or a we could have raised billions of dollars from people who can afford to he Nystrom said Wilson should impose a minimum tax on corporate similar to a 20percent tax charged in the United and he promised to provide More details when the nip presents a minority report on 28 on Wilsons proposed sales but Reid said actions already taken by Wilson will boost corporate taxes by billions of Wilson said in june 1987 when he introduced tax Reform that the share of Federal government revenues collected from corporations would Rise to per cent in the fiscal year ending March from per cent in fiscal during that corporate income taxes would increase by More than billion in the finance minister the general corporate tax rate will fall to 28 per cent in 1991 from 36 per cent in 1987 under tax but Wilson closed several Wilsons measures included reducing the ability of companies to write off machinery and equipment investment against their increasing taxes on capital gains and thousands lome Nystrom stands in front of limiting deductions for cars and the finance minister also severely restricted deals where a profitable company could buy a Money sing firm to use its losses to avoid paying they have Cut off a lot of loopholes and essentially the Only Way a corporation does not pay tax on their profit in a Given year is if its carrying Forward real losses from Previ Ous Reid charts illustrating his Nystrom also pointed his Finger at Banks and financial noting they were the largest single group of companies that made a profit and paid no tax in but the country nine largest Banks paid tax As a group that year despite loan prob lems related to Energy companies and third world said Al Vic Epresi Dent of finance at the Canadian Bankers escape tax Ottawa up Here is a table showing How Many firms made a profit and paid no followed in brackets by their total untaxed provided by Nystrom and based on data provided to him by statistics Canada d 1980 billion q1981 billion d 1982 billion 0 1983 billion d 1984 billion d1985 billion g 1986 billion d billion the following is a breakdown for 1987 of companies that made a profit and paid no tax by Type of followed in brackets by their total untaxed provided by Nystrom and based on data provided to him by statistics Canada d finance billion d manufacturing billion d mining billion d services million d communication and other utilities million d wholesale Trade million d retail Trade million d construction million d forestry and fishing million racism called rare in taxi Industry Edmonton up blatant Rac ism int a problem in Edmonton taxicab Industry but fear of it says the Alberta human rights a study released by the commission yesterday suggested there Are rare occasions when a customer specifies he wants a White Driver or a taxi company hesitates to hire members of visible but those cases Are the exception rather than the the study i go so far As to say we should decide there Are no prob commission chairman Fil Fraser told of course there Are problems and were not going to fix them but it also suggests we overreact to certain segments of the population who Are in the Chicken Little going around saying the sky is falling All the the commission ordered the study after Media reports that some taxi dispatchers regularly receive and answer racist requests from custom researchers from the University of Albertas population research Laboratory spent three months interviewing 135 cab Drivers and their observing dispatchers and monitoring More than Tele phone Calls to cab what they found was a Gap be tween perception and said labor minister Elaine who is responsible for the most of the people participating in the study believe there is disc rim and yet there is no substantive evidence there is Dis criminal Mccoy correction notice please be advised of the following changes to the Sony store the perfect effective 1989 pages Sony Handy am ccdf50 should read Sony Handy am ccdf70 should read Page 46 wrist watch Walklet Alkie icb1010 should read Walkie tackle icb1000 should read Page 55 prices for the metalsr90b tape should read single 3pack 5pack Box Page 67 Sony cd players cdp670 and cdp770 do not have coaxial Page 73 Sony system strav210cd turntable not included in package the Sony store regrets any inconvenience this May cause our the Sony store exp xxx we a Clear Lake fall getaway from discover vacation ownership 2 night 3 Day stay at the Elkhorn resort enjoy Indoo will Pool exercise room games kids cw1 w filing Bounlam National part Cirtin Condil Loni Avioli Billly i limited 18487354 98 24 starts 4th expire vacations far go for it Are you Between 17 and 20 do you want to learn about in Canada and in the third world Contact us Canada world youth 10765 98th Street Alberta t5h 2p2 403 4246411 493 notre Dame ave free parking mean presents Maestro Bramwell Tovey new artistic director of the Winnipeg symphony orchestra appearing in our showrooms november 12 noon to help Welcome the exciting new conductor of the Ujj Jef to our City to every Means piano will be on Sale this weekend including Young Steinway and Roland consoles grands digital pianos reconditioned from from from from s2695 s5995 s1795 s1395 select a piano from this Sale and Maestro Tovey will personally sign it enhancing its future autograph session Why not bring a program or favorite music selection photograph session have your picture taken with the if you choose your new piano during this we will capture the mount hear Bramwell perform selections from upcoming so appearances on the Young Chang g175 grand piano As selected for his own dont miss this unique Opportunity to go Back stage and meet this wonderful new addition to Winnipeg music tree draw win i pair of tickets to the so pops concert a Salute to Gershwin featuring Bramwell himself at the 5 Silt to ii Given no Pui Baic no Nissam Steinway onh Atn 263 Edmonton at Graham phone 9424231 1989 Nissan Maxima axe Sedan of the year fully equipped for your driving safety plea 36 Cost free maintenance demo Sale Price Worth of Black Decker products from Nis san with every new pickup or sentry Purchase 1990 Nissan Micro l 4 5 All season radials rear mud 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