Winnipeg Free Press

Winnipeg Free Press (Newspaper) - April 4, 1997, Winnipeg, Manitoba April 1997 b4 Steve email Winnipeg free press business regulators probing Brex by Valerie Lawton Canadian press Toronto trading of Brex minerals shares ground to yet another embarrassing halt on the Toronto Stock Market yesterday As securities regulators confirmed there investigating the exploration the Ontario securities commission would say Only the investigation relates to whether there has been a breach of continuous disclosure requirements or insider trading pro in other developments yesterday a new report failed to answer questions about conflicting estimates of Ontario authorities dig for dirt canadians launch suit markets keep b5 Gold in the company indonesian a group of Canadian investors who lost Money in the Brex filed whats believed to be the first class action lawsuit in Canada against the Calgary mining several suits have been launched in the United Brex shares closed up 50 cents to on the Montreal Stock Exchange and up 55 cents to in in the company shares were at before trading was stopped because of computer the securities commission said its investigation will determine whether there is sufficient evidence to launch proceedings against there has been no action taken by the Osc with respect to the commission said in a news it is premature to speculate regarding any future companies Are required to release information that could affect share prices in a timely its also Ille Gal for company insiders to use confidential information for their own trading ahead of the Brex president David his wife and other company officials sold close to million Worth of Brex Stock a Small part of their holdings in August and september last after Indonesia cancelled the Compa nys preliminary licence to work the the sales were made before the cancellation was Walsh has vehemently denied officials broke insider trading the report released yesterday by Stock Market and regulatory officials was prepared by the mining Engineer ing firm that confirmed brews claim of a huge Gold find in analysts said the report Doest answer the key question How come another company has found Little Gold where Brex says there should be lots of Gold some mining experts raised con Cerns about How Brex crushed its Ore samples before testing them for that a red said one who asked not to be he suggested the machine Brex used to grind the Hammer Mill can some times give misleading an assaying expert Jack a consultant in Van said he Doest recommend mining companies use a Hammer Toronto Stock Exchange president Rowland Fleming said trading on Bre x shares will reopen maximizing tax benefits of donations dollars and sense David Christiansen Manitoban Are Are a charitable ranking among the top two provinces each year in per capita donations to this is Likely to As the last few Federal budgets have expanded the ability of contributors to claim tax credits for their lets first look at the Basic tax treatment of Dona in order to generate a tax the Benefi Ciary of your gift must be a registered of which there Are some in a donation generates the same tax credit no mat Ter what your tax bracket a person with of income receives the same tax Bene fit for a particular donation As a person earning reducing your Federal tax automatically reduces your provincial which in Manitoba is generally 54 per cent of the Federal your first of annual donations provides you a Federal tax credit of 17 per cent and a combined Federal and Manitoba credit of about 26 per your first of donations reduces your total tax Bill by about annual donations on annual donations above the Federal tax credit increases to 29 per cent and the combined credit to just under 45 per your third of donations saves you about in income you Are allowed to Combine two spouses contributions in one tax return to Maxi Mize this As you Are allowed to carry donations Forward up to five years to increase the amount that is in excess of there Are limits on How much you can contribute in a Given based on a percentage of your net in the annual limit was increased to 50 per cent of net income from the previous limit of 20 per last months Federal budget proposed to increase the deduction limit to 75 per cent of net there is also a proposal to increase this limit further by 25 per cent of any taxable capital gain arising from the donation of appreciated Capi Tal such As company this is to pre vent a net tax liability when such assets Are donated to donations of ecologically sensitive land and Cana Dian cultural property would continue to be eligible for up to 100 per cent of net with the proposed 75 per cent you could receive a credit for regular donations of up to in a single year if your net income was if you donated More than the unused credit could be carried Forward up to five subject to the same annual reduce taxes donations made in the year of death and the immediately preceding year Are eligible for reduction of up to 100 per cent of net for this and other charitable giving is often an important estate planning technique to reduce taxes that May otherwise be payable on the recent budget also proposed to reduce the inclusion rate on capital gains from 75 per cent the regular rate to per cent when the securities Are being donated to a gifts of such As stocks or Bonds that have been owned for a Long period of give Rise to a capital the act of giving the investment is like a Sale at current Market value in Revenue Canadas the amount of the donation is equal to the same fair Market value figure used to calculate the next week we will outline some of the techniques used to maximize your tax Benefit today while maximizing your Benefit to David Christiansen is senior adviser with Mac Shymko in Marc free press Burrows from Bologna Hope bid will provide million in work for Winnipeg Bristol eyes copter work consortium Hopes to Supply 15 choppers to forces project could add 4050 keep City Plant Busy for eight years by Martin Cash business reporter Bristol aerospace Hopes to reap at least million in contracts if a consortium wins a contract to Supply 15 search an Rescue helicopters for the Canadian armed officials from the italian com Agusta and the British Westland helicopters were in Winnipeg yesterday to promote their proposal to sell Canada Cor Morant search Andrescu Sar bid packages Are due next month with a Federal decision by the end of the Bristol will perform structural Airframe work including the manufacture of composite mate rial and Sheet Metal work for the fuselage the upper Cabin and the lower president Keith Burrows were excited about this strategic he we will be producing components for cormorants that Are sold All Over the not just for the eight years of this cur rent if this consortium wins the Burrows said it should mean about 40 to 50 jobs each year for about eight years at Bristol the local company will Likely make the Back a sophisticated piece of Airframe owned by Roll Royce industries Canada is for Burrows said this Deal does not Impact on the process of finding a buyer for Bristol and he said plans were still in place to have a Deal by the end of we think the Cormorant is simply the Best Sar Heli copter for Cana said Roger director of marketing for the americas for Westland when lives Are at Compromise is not an Clarke said the Canadian govern ment requires that the winning bid provide Industrial activity in Canada equal to at least 100 per cent of the value of the were targeting for 145 to Iso per Clarke As Well As the other major Canadian suppliers for the bid will be Canadian Heli copter of spar applied systems of Hughes aircraft of Alberta and acro of British the consortium Industrial regional benefits team met with about 30 companies from Mani Toba and Saskatchewan Dis cussing possibilities for local companies to Supply the Heli copter program or other manufacturing needs of its Parent Fine Canica and gun the partner ship was the same group behind the multimillion Dollar aborted Deal to sell Canada eh101 in the Cormorant is a similar Heli copter in a different although the eh101 Deal was a costly exercise for the two Gilbert director of International pro Grams for said this time the terms and conditions Are Why Are we doing this again Bologna the simple answer is that we Are 100 per cent convinced that this helicopter is appropriate for search Andrescu work in Clarke said we have been assured that if we provide the Best value there is no reason we wont get the retired Canadian colonel Larry Mcwha spoke in support of the Cormorant at yesterdays this is the Only Choice for Mcwha said of the it was made for it is Large but manoeuvres it can turn circles inside the Labrador the helicopter this helicopter would replace and it can easily land on ships or Oil Burrows based on our evaluation of the product and the demand ing requirements made by the Canadia climate we think the Cormorant fits the Bristol membership in the consortium was announced last last year Bristol won a contract to Supply million in rocket attack systems for West lands Apache attack Bristol will probably Supply its patented wire strike Protection system to whichever bid team wins the Sar the other competing bids Are beings Chinook the american Sikorsky aircraft Blackhawk helicopter renamed the Maple Hawk for this occasion and the eur copter Cougar Mark Brilliant images using our printing leaders in imaging technologies look for our color Bubble Jet printers with photorealism capabilities Canon Canon ;