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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 29, 1971, Lethbridge, Alberta 22 THE IE1HBKIDGE HERALD Monday, November 11, 1971 Companies pull out of Canada in face of new Ottawa tax law ll lly IH'H .M11C1 NSI'N Canadian Sl.ifl Writer Some mmpa- nies are cinvhaMiit: that Canada is mn a px'd operations ,ind smiie tax spe- cialists say lln.- is result of what appear- to lv government policy The comjM'.iir.-: leaving Can- ada i he pending change in federal l.iw a.- the reason. Tin- new' hill is scheduled manv tax presented rate vieu paper pr meetini; Foimdaiii say it wilfmake I he imiliir.ational cor- poration ..perking out of Can- ada less oon-.-vi with those based in many oilier countries, assistant or laxaiinn at Mas- Ltd.. Tor on to, r< --imistic corpo- federal bill in a -.ted to the annual Canadian Tax i: :icr titi.- month. 'II ma', lv 'hat the Canadian corporation with a foreign affili- ate should of its shares, cut its los.-e-. and accept that the Canadian government does not want its corporate citizens to dabble in foreign or at least that's what the legis- lation appear.- to indicate ".Many foreign affiliates are customers for Canadian ex- ports. Adverse consequences on Canada's trade balance are likely from such a move, but the government doesn't seem to care." LEAVINCt CA.VMIA The conclusion that the wx tax legislation would make Ca- nadian muUinaiioiMl companies less competitive was drawn by most speakers on the interna- tional aspects of the bill, Four companies of varying sizes have decided to move to other countries hi recent weeks and each has .-aid it was be- cause of the tax bill. Interna- tional Utilities Corp. is moving its head office back to the United States after 11 years in Canada. Hunter Douglas Ltd. and Patino Mining Corp. are moving to Dutch territories and Interpool Lid. is going to the Bahamas. International Utilities was among the 10 largest Canadian companies hi terms of assets. The company has no direct Ca- nadian holdings but operates in Canada through subsidiaries. Present tax law exempts from Canadian taxation companies which carry out substantially all of their business operations outside Canada. The new legis- lation will eliminate those ex- emptions. 8 tines studied EDMO.NTOX fCP) The Al- berta Fish and Game Associa- tion has asked the Environment Conservation Authority to re- view penalties under the Wild- life Act following a recent case in Valleyview. Gordon Peel, past-president of the association, told the author- ity's public advisory committee that only "token'' fines were handed out against 11 U.S. moose hunters. Penalties ranging from to maximum provided for in the act. were levied against the hunters in Valleyvtew, 200 miles ncathwest of Edmonton. STIFFER PENALTIES In an interview, Deputy Min- ister V. A. Wood said the lands and forests department is re- viewing the penalty structure for illegal possession of game because of the Valleyview in- cident. Dr. Wood said an increase in the maximum fine of S300 is probable. The men were charged with not having the mandatory ser- vices of a guide and illegal pos- session of game. the act allows only one moo.se for c.ich hunter, wildlife officers confis- cated 15 mco.se from the men. Mr. Peel said wii'dlifc can't stand this typo, of hunting and baid the U.S. hunters might have been more humbled if fines were stiffer and their guns and vehicles were confiscated. CYPRESS VIOLATIONS However, he also pointed out that magistrates were often too lenient when dealing with charges under the Wildlife Act. The conservation autliority was told, Mr. Peel said, that 12 hunters wore recently charg- ed with poaching elk from Cy- press Hills Provincial Park, designated a wildlife sanctuary. They were fined each in Medicine Hat Courl, he said. Tn 179B, Edward Jennrr dem- onstrated the effectiveness of cowpox vaccination as a protec- tion against smallpox and lishcd the concept of immuniza- tion agaiast di.scn.sc. Bank of Montreal The First Canadian Bank Start your own loan action. Fill in the chart below and see how much monthly repayment power you actually have. If you find you can afford a loan come see us about ACTION MONEY. We know there are things you need. And we're sure we could help with ACTION MONEY. We can give you action on a low-cost loan. We wantyoutogetyour money's worth. Bank of Montreal ACTION MONEY PLANNER Monthly Take Home Pay Cost of Living "-ilirw fa-ftor rlnrlitrtinnM Take Horn1? P3y Fvtrn TflVRS Total s Tplpphnno ,.._. __ Cost of 1 iving Installmfint paympnlq FntRrtainmpnt amount is your discretionary income. Part of this amount is your Potential Repayment Power. How much? Ask your Bank of Montreal manager. The chart below shows the monthly cost of various loans. Savings Total MONTHLY REPAYMENT POWER CHART 18 MONTHS 24 MONTHS 36 MONTHS 48 MONTHS LOAN Monthly Total cost Monthly Total cost Monthly Total cost Monthly Total cost Payments of loan" Payments of Payments of Payments of 26.29 261.67 1500 91.40 70.54 192.96 39.43 392.51 2000 121.87 193.68 94.05 257.28 52.57 523.34 2500 152.34 242.10 117.57 321.60 65.71 654.18 3000 182.81 290.52 385.92 78.86 785.01 3500 213.27 338.94 164.59 450.24 92.00 915.85 4000 243.74 387.36 188.11 514.56 105.14 4500 274.21 435.78 211.62 578.88 118.28 5000 304.68 484.20 235.14 643.20 131.43 ;