Business Examiner Thompson/Okanagan - October 2017

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» COMMERCIAL BUILDING AWARDS

OCTOBER 2017

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KELOWNA Okanagan Restoriation Services celebrates 25 years of business

Thompson/Okanagan WWW.BUSINESSEXAMINER.CA

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OSOYOOS

Sell-Out Crowd Celebrated Commercial Building Awards Sept. 28

Chief Clarence Louise shares inspirational message with Ucluelet First Nation

Kelowna Police Services Is Judges’ Choice

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INDEX News Update

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Kelowna 3 Salmon Arm

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Kamloops 11 Summerland 18

ELOWNA – Kelowna Police Services Building was named the Judges’ Choice Best Overall winner at the 9 th Annual Thompson Okanagan Kootenay Commercial Building Awards September 28 at Manteo Resort. T he dow ntow n Kelow na building topped a field of a record 36 , and was also named the Award of Excellence winner in the Community Institutional category. Kasian was the Architect/Designer and Bird Construction was the Developer/ General Contractor. Gold Sponsors for the event were R E/ M A X Com mercial, MNP LLP and the Southern Interior Construction Association, and Black Press was the Media Sponsor. Category sponsors include WoodWORKS! BC, RBC Royal Bank, NAI Commercial Okanagan, Heimann & Sons Masonry Inc., NCA Commercial and Greensheet Construction Review.

Movers and Shakers 20 Opinion 22 Sales 23 Contact us: 1-866-758-2684

OUR 8TH YEAR

Canadian Publications Mail Acct.: 40069240

SEE AWARDS |  PAGE 12

The Kelowna Police Services building was the Judges’ Choice Best Overall winner in the Thompson Okanagan Commercial Building Awards. From left, Francois Riverin of Kasian Architecture, Andrew Gibbs of the City of Kelowna, Paul Bangma of Bird Construction and Bryan Laveck of MNP

MNP: Small Business Owners Face Big Impact From Proposed Tax Rules Could Eliminate Incorporation Benefits, Tax Deferrals And Income Splitting

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E L OW NA – A ccou nting firms are being inundated with calls from business owners following the Federal government’s proposed sweeping changes to the way private corporations are taxed in Canada. While the federal government is still accepting feedback on their proposal and changes to legislation are not yet finalized,

small businesses and professionals across the country are very concerned about its potential impacts. The full 63page paper is available on the Department of Finance website. “We are definitely getting a lot of calls on this,” says Jamie Kungel, regional tax leader for MNP on Vancouver Island. “The proposal reflects the most significant shift in tax policy

for private corporations that we’ve seen in 45 years, so people are eager to understand how it could affect their business and their family, and what they can do to mitigate the impact if the changes go ahead.” The federal proposal addresses three main areas of tax planning using private corporations: Income sprinkling (also called income splitting); Investment

income earned inside the corporation; and Capital gains and dividends. Income Splitting Many business owners have benefitted by paying dividends to family members as shareholders of their corporations. This practice allows business SEE MNP |  PAGE 10


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