TAX TIPS Paying by installment Although you may not know it. you could be among the more than 400,000 Canadians who have to pay their income tax by in- stalments. usually four times avear The tax department requires instalment payments trom taxpavers who do mot have tax deducted usually by their emplover. from atleast three quarters of their netincome and whose estimated federal tax for the vear amounts to more than $400 Many people dont realize that their tax situation requires them to pay tax by instalments Asa result, they can be charged interest when they receive their assessment notice However lo give taxpavers a chance lo adtust to their new obligations the tax department generally charges no interest the first Vedat that instalment payments are required lt vou are one ot those who should pay tax by oun stalment wal to the most common calculate your Quarterly payments is to base them on your tax pavable for last vear dividing the total by four Another method for calculating payments as) to estimate what your fax fer the current year wall be again dividing by four Taxpavers whose income has changed significantly. such as people in their first vear of retirement. will find the latter) method more practical But otherwise it’s eenerally better to base payments on last vears tax since an estimate for the coming vear could result in an interest charge if the estimate is low Instalment Grsuides to help you calculate vour in- Stalment payments are available at all laxaltion district These payments should be made on or before the end of March. June. September and December You should then calculate your actual tax for the vear on or before the April 30 deadline paving anv amount soll owing after the instalment payments and tax withheld at source Of Course offices if vou have overpaid your tax vou will be chegible fora refund. If your chef source of income 1s from farming or fishing, you should also pay by instalment but only once avear This payment should be made on or. before December 31st and should represent two thirds of your esumated tax. usually based on last years total The balance of vour actual tax should be paid on or before April 40th However fishermen who are classed as self-emploved under the Unemployment Insurance Act do not have to pay by instalment since tax wall already have been deducted from sales If vou pay tax in one or four instalments. payments can be made at any branch of oa Canadian chartered bank. calsse populaire or credit union, or sent to the appropriate taxation centre as indicated in stalment Grutde your In Now you know By UNITED PRESS _IN.- TERNATIONAL The first woman in space and the only woman to orbit YOU Can Lose 5S off your waist S off your tummy pl, «< while relaxing in a comfortable atmosphere SUPER SAVINGS the price of 10 LADY STILE COU Te 987-0886 —*- 7O4 East /th St Open till Y gm Valentina Tereshkova, USSR. who made 48 orbits in three days in 1963 the carth was off your thighs 15 visits for NV VPA winning the Heritage Day poster contest. Helen Waite presents the prize on behalf of committee. (Ellsworth the photo) STUART Holtman is presented with $10 for CS - Sunday, March 14, 1982 - North Shore News KITCHENS VANITIES COUNTERTOPS APPLIANCES CERAMIC TILE 106 West 3rd St North Van BC Pnone 984-9741 Dickson ‘Sees re oy, aa Have your kitchen Remodelled now! VWE’RE CALLING ON YOU TO REGISTER AS A PROVINCIAL The new Provincial Voters Listis nuw beliyg compiled and coumerators ate Callhig on every residence ti the province lo ensure that every eda. votenis reqotered \f your reat Morne whit: we cath your ca cegh oben Uhre and there Thoweetriss your Ure test tiene wee fc tll acgearrs Anid th your te trot there: we ldedwe a feqrothathon tori’ Youd to cooriprrete: with pote: pram retry etivethopoe tse stares te fakes ache atitaaqge: frre oh yeah tract Vp tear te {het GETON IME List BE A PART OF YOUrn * Fever, VO OAL Hw.