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I Business Outlook Becoming a banker Look at aftertax yield Inlhcir flights of children usually choose to pky fireman or doctor or I llbclhe manager you be tin lomer Bui as adults a few stars later many will lor ihc banking industry for career opportunities SomcofthL 165iXX people work in Canada banking system the profession through a summer job as a teller well thoughtout choice ftuplc working in ihc in bring to it many skills in areas including economics personnel public affairs financial analysis and marketing Banks employ gencraksts as well as a wide range of specialists such as accountants computer programmers systems analysts and lawyers Onthe job training is also available for many positions from tellers to branch managers Since the principal business of banks is the management of money this area provides the bulk of career positions within each bank Canadian banks are complex cor poraUons often with extensive operations The major chartered banks rank among the est in the world the heart of Canadian bonking lies in the branch system This is where most bank employees many of the most senior oft icers start out At the local level employees in dude tellers administration officer clerk typists loan officers and managers of various ranks Large branches have a greater r of as officers and manager and tellers The beginning bank employee will cut in one of thest positions But the sky s the limit il wines caret rdeviiopmcnt pnMdineux banker is willing indeed anxious to learn education of bankers iticMo on int responsibil tanks tike the idea on tlic job training seriously And banks support advanced and education Institute of Canadian Bankers KB which provides a constant educational seminars courses through correspondence and in cooperation with universities across Canada to further the expertise of bank employee with ambition Local provide a wide variety of experiences and a manager may do double duty as the loans officer and pitch in on just about everything else Inicmational banking is a special challenge Canadian banks here and abroad provide a valuable source of expertise to Can inn businesses in terestcd in exporting or importing products The international banker needs an open mind and sense of ad venture to adjust to other ways of life and different financial criteria a for posting Handlint other people is serious responsibility Honest is one the most sought mis inanyonc seeking banking If you also have iialcni tor dealing with people perhaps a in banking is or you wnttfiiriht frit fxKikhl Caret Vic BanUn ftii First Plait Toronto Ontario M5X Bank cards use them or abuse them Visa and MasterCard a popular with Canadian a These bank credit cards arc issued by most financial million Canadians And oh how they arc used In 1985 Canadians ran up me re than billion worth of goods on the hole plastic sheets That s a lot credit hacked only by signatures and promises to pay most Canadians arc sensible in their use of bank cards About half of cardholders pay their balances in full during the interest free period In effect and MasterCard are as much a form of convenience as they are an mediate source of short term credit Bank cards arc very handy to have around there an automated teller ma chine in sight and prices arc per cent offal your store chart ing it a fortunate alternative to forgetting it And many people prefer to carry a credit card rather than large amounts of fa stolen or lost card is reported as soon as it is found to be missing loss to the cardholder is limited usually toamaximumofS50 If cash is lost or stolen the owner bears the full burden of the loss Every transaction made with a bank card shows up on a statement These monthly statements arc a use ful record of purchases some people prefer to use cards so that the record is kept for hem The cards provide a nearly universal form of identification espe cially for an mediate indication thai he holder is creditworthy When applies for c ird the credit investigation by die banks is of a sun dard generally accepted by other credit granting institutions In other words ifyoii reagoixJereditriskfor a hank you re probably itixxl credit risk for a department store For those interested in other forms of for business or per use responsible of bank card can be an imniediatL plus to the officer handling your request for a loan The key word here is respoasi Carclcssusc of hank cards lias Bank card credit is revolving credit That means interest on any unpaid balance builds up until the entire balance is paid Major purchases should not be entered into lightly And a warning to abuser who try to run up large bills with no intention of paying word gets around A record of abuse follows the abuser for many years after the event In a society re cars and homes are usually purchased with loans consequences of an unpaid shopping spree could be far the number of abusers is relatively small For the leverage Canadian the ap plication for a bank card has become just one more step in establishing a sound credit history and obtaining a welcome aid in the sound manage of personal finances Johonno Leduc Da I la I I Director of taxation at a mo or pulp and paper company 5 he Is alio author of the Quebec tax payor guide Comment radutro wot re ACCOUNTING FOR YOUR MONEY the itukinj the investment luisi in in ontshiuliltril how fit will ire iicil rule is thai profits from of rial arc taxable What to be is profit will as a capital gam or as business income Thedistinctionmust drawn these types income since tte former far less in las terms it could even he completely exempt than the latter The difference between the two vanes Ii is scrs important to establish w the transaction a business nature The arising from anon business transaction will be included ii rule if t ipii in mnenipti IHKti rlWMSM IKK t i r On the r hind ill pro litsrisnliniLlri must ill lime lilt nit Ii would impossible in tilt lists those trill nature of a transaction Revenue Canada it various lac tors such asihc frequency of similar iransaitions the intent at the time iheocuutstion and the length of owner ship of the property goods Under criteria people who play the stock market could be regard id as making commercial transactions under a nam conditions Forexamplc if stocks were bought and sold at single year if the purchaser acquired stocks with the aim among others reselling when had increased sufficiently value illhi pi rthjst aiued I mil timpled I irt it this profit as bunt of a business i or election is made by to the lax return This isanirrcvocahlcchoice which re mams valid for all subsequent lions and the form does not therefore have to be produced each year and even a single transaction could be held to be of a business nature So before proceeding you must take into account the type of income which will be generated when calculating the return that you wish to A Cent lied General Accountant will be able lo help and guide you in your FRIDAY MAY 1st We cater to the needs of both and Rider with emphasis on Good Quality at Reasonable Prices Come and see our extensive range of Saddlery Horse Care Products Riding Apparel and Accessories ANY SADDLERY AND CLOTHING THAT YOU NO LONGER NEED WE CAN SELL ON CONSIGNMENT During Our Opening Weeks Your Sales Receipt Becomes Your Ticket For Our Opening Draw Prizes To Be Given Away Include A WINTEC MANMADE SADDLE KIEFFER BRIDLE AIGLE BOOTS A PAIR OF KEMPTON BREECHES DRAWS TO TAKE PLACE Boots Saturday May 2 5 p Breeches Saturday May 9 500 p m Bridle Saturday May 1 6 p Saddle Saturday May 23 pm Were On The Corner of Maple Ave Trafalgar Rd Georgetown 8730866 to Wed a m TM1115 and Fu a m p m s iluidiv