¥, he hed) ” J

= ™

al a Nad hed i”

7 hall

\

” i”

”

= 23 -

FOOTNOTE TO EXHIBIT 4.1

1/ Provincial Income Tax is determined at 32.5% of Federal Tax payable.
For the provision of new transport equipment, gross annual employment
incomes are assumed at $18,000, which implies a provincial tax rate
of 4.93% of the total wage bill, while for facility construction and
tank and barge provision, gross income is assumed at $25,000 per annum
which implies a provincial tax rate of 6.36% of total wages.

Example: (for married employee with 2 dependents)

(a) Gross Income = $18,000 per annum
Deductions = $5,263
Federal Tax = $2,733

Prov. Tax = $888 (4.93%)

(b) Gross Income = $25,000 per annum
Deductions = $5,263
Federal Tax = $4,896

Prov. Tax $1,591 (6.36%)