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Page 8, Whitby Free Press, Wednesday, June 1, 1994 'Change' symposiumii today The Bureau for Excellence in Durham Region, in association with the Durhar H ospital Coun- cil and the Conférence Board of Canada, are sponsoring a symnpo- siumn entitled 'The Challenge of Cch ange - Total Quality/Continu- nus Improvement in Health Care,' at the Holiday Inn, Osh- awa, today (Wednesday). The symposium features. successful Canadien case stuclies which represent 'best practices' in the application of continuous quality improvement processes in various health care settinge. Presentations from ieading health care organizations from acroee Canada are focusing on the issues of increasing quality demanda and shrinldng resources in Canadian hospitals, the VON strtey or making quality work inthe hfome, the importance of health care worker involvement, the raie of the board in supporting quality initiatives, and measuring customer satisfaction. The D)urham Region contribution was ta b. presented by Joan Hunt, director of Interact, conimunity mental health pragram. Interact, sponsored by the Oshawa General Hospital, la addressing the application of quality effectiveness and efficiency in a community -mental health setting. BUSINESSES.77ST WELCOME YOU Th e Whitby Inn Restaurant & Sports Bar 2 lb.i WINGS & OnIy '5 JUG 0F BEER 15 ,Monday to Saturdaji 4 pm-1 1 pm [Dinig Room Specialsi :Buy one entrée ait regular price 8 i get 2nd entrée AT 1/2 PRICE K ual or lasser value. Not to be used with Othor m speciais. Expires June 3D, 1904. d à 10 1 % COMBO DINER ROLLS Pumpernickle, Vegg le, Sour Dough, 7 Grain Ony 29 Dozen 1 Reg. 1.70 Limi 3 dozen per custore Large MUFFINS 6/69 OnIy Reg 2~6/3.55 Lkni 3 dozenPe cust orne Ofer exir Teda J. 7 19 *5 Hok Ste et : * e' 66m17 Spring Cleaning"'t. F Lt Swish help you make cleaning easier. Outdoors: We rent Karcher Power washers to dleani your house, windows, decks, cars, boats, patios, pools, and so much more. Indoors: We renit Karcher carpet cleaners to. dean ail of your carpets. We even indlude a smail hand tool for stairs, uphoistery, car inteniors etc. To advertise in this feature oel Lynda at the Whitby Free Presa, 668-111.I e:£ze7f -" "I ete:- r r. m r A eac 185x8. e l8R l9x5l $6. l95x7ORI 20xOl c> 6, 9 -MxOl5$7 23x5l5 $7 *SPECIA LON 60X 65 SERIES. SOLOTECH BY ENJERAL TIRE (e. WE CARRY MICHELIN - UNIROYAL.- GOODRICH GOOD YEAR - GENERAL - BRIGADIER.- FIRESTONE USED TIRES $20.00 AND UP W. Acc.pt National And Fiset Accounts - The Bay & Zellers Carda Matheson Gag Products Canada lias been awarded the 1993 Leonard Parker Poole Safety Document Shredding # High volume equipment wiII reduce your shredding cost # Secure locked containers at no extra cost 0 Bonded drivers #*100% of paper is recycled # Certif icate of destruction # Volume discounts available year-end, clean-outs CAIL NOf (905) 427-3605 (Derrick) 00000027À4.À: WASTE SYSTEMS Award. Givýen by the North Anierican Compressed Gas Association (the CGA), the award is considered the most prestigiaus in the gas industry. This is the second timne in six years that Matheson lias wan the award. The Leonard Parker Poole competition begun in 1978 and is awarded annually by the CGA te the member campanies having the greatest improvement in safety over the previous two years. Matheson Canada was awarded for group III three category, companies having up to 200.000 employee exposure hours. Matheson Gas Products Canada develops, produces and applies specialty gases and equipment. A transportation trade show wiIl be held by the Durhamn Region Manufactitrers Associa- tion on June 2 in Pickering. 'Moving Goods & Sprvices in the 90's,' sponsored by The Mackie Group, will be heldat the Metro East Tade Centre. Your Finiancial Health Derek Dutka Attention cottage owners Last month I noted the capital gains exemption is now history but that investors will ýai -owed to '-crystallize" any gains tbey had on the budget date. This must be done on your 1994 income tax return. This may be especially beneficial to those who own cottages or other real estate property. Let me give you an example. Before I get started let me issue a caveat: the final regulations have not yet Ieen published and this coiumn is not intended ta cover ail possible scenarios. If this appiied to you, contact a knowledgeable professionai (accountant, lawyer, financial advisor, etc.) about your specific situation. This 15 a one-time opportunity to use the $100,000 capital gains exemption. S pend the time now to find out if y ou can use it. Let's say that Saily bouglit a cottage Feh. 28, 1988 for $60,000. The current market value as o f budget day (Feb. 22, 1994) was $90 000. Therefore, the $30,000 gain would be tax- free -- riglit? 'II5e answer is a definite <maybe.' If it were that simple, the exemption would be claimed and the new 'cost'of your cottage would be $90,000. When you sold it in the future you would pay tax on 75 per cent of the increased value. However, this is where the complexities begin, and why you should work wth a knowledgeable tax professional. You may remember that the February 1992 budget eliminated the capital gain exemption for real estate after that date. So in our example above, the property was owned for 48 months before the 1992 budget out of a total of 72 months to the budget of 1994. This means that only two-thirds of the capital gain is eligibie for the exemption. The next complication would arise if you have declared investment losses in previous years. If you have more losses than income dating back to 1988 you will have a positive balance in your cumulative net investment loas (ONIL) account. That means you will have ta payCicome tax on the amount of investment income required ta blance your ONIL account ... before you cen cdaim the capital gains exemption. Here are some other factors that may cause confusion. The adjusted cost base of your cottage is generaliy the original cost plus the cost of any long-term improvements. Documenting the cost of improvements can be tricky unlese you have ket detaiied records. And many oe prformed the work themselves, so there is no cost. If th e capital gain is large it may prevent y ou from receiving certain tex credits or cause you to repay benefits sucli as Unemployment Insurance, Old Age Security or any supplements. There are other issues that may come into play sucli as alternative minimum tex and how to get an accurate fair market value for your cottage. The whole point is that you need to spend some time (and maybe some jmone )' to see if you quaiify for the <lest chance' et the $100,00 capital gains exemption. Doing your homework now couid sa you literally tens of thousands of dollars of income tax a few years down the road. Remember, the above is a very simplistic example. Your situation will be uniu and needs to have ail facts c learly laid out before y ou cen mk an iniformed decision. Derek Dutka is an indCepdent financial planner with FInan cial Con cep t Gro up in Osha wa. INSTALLATION - BALANCING FREE: TIRE DISPOSAL - ALIMENT CHECK mý 1 1