26 - Wednesday, September 16, 1987 ~ North Shore News Business Professionals can help with tax plan From page 25 than 1988 (you could make 198875 contribution in December). But if you are in a lower tax bracket. you might get more of a tax break by making the contributions in TY8s, eaf you will qualify for the $1,000 pension income deduction, taking $1,000 of elizible pension before the end of 1987 could save you up to $540 tax this year. in 1988, this deduction will turn into a credit, and save you only about $270. * Make full use of the $1,000 investment income deduction this NEWS HOTLINE ol us any tune, day or C night, with your paves fp Ho oour reporters ate covenng another story when you call. please leave your nam phone number, message and the tine on ur answering machux: Or call our teqular newsling ORG 2131 be tween 8300 am and 5 pm Remember, when you bear news. call the: NEWS! north shore’ THANKS 5 FOR THE TP Bees Vancouver 71 Food Store 8710 Granville Airport Square Smoke Shop 1200 West 73rd Avenuc Alberni Smake Shop 1166 Albeeni Bank of Montreal — The Pavilion 595 Burrard BC Teachers Credit Union 4445 Dunbar 5594 Cambie (Oakridge) BC Transit - Lost & Found 631 West Hastings year. fort won't be around in WOSS. bor cxample, cash bond coupons and use othe aceraal method of reporting compounding interest this sear. Or defer antil nest veal paying mbcrest on mores borrowed for investing (which could reduce the income eligible in 1987 for this deduction). ° Put they maaimum amount into your RRSP for 1987. If you are in the higher tax brackets, you will save more this year than next year. when the tax rates drop. ° Jf you own your own business, transferring some or all of the shares to a child (or children) be- fore the end of this year would enable both you and the child to use the lifetime capital gains ex- emption when the shares are even tually soid, Don't hesitaze to get profes: sional advice on these and other points related to tax reform. A few hundred dollars spent now plann- Ing your tay strategy could pay off for many years to come. Several onher accounting have also) prepared tax reform analyses. Coopers & Lybrand, for example, has authored Canadian Tay Reform (CCH Canadian, $13 to $15). Touche Ross has published two firins rithes under the heading Understanding Tax Reform — 1987: Personal ‘Tax Planning and Corporate Tax Planning. From Peat Marwick comes Tax SALES & SERVICE PANASONIC QUALITY AT AFFORDABLE PRICES Pickup tickets and pocket sav Reform 87: Analssis and Com- meotary. Many of these publica- Dovou hase a financial oF cos- sumer question for Mike? Or a Hons are frees vou can often get a story sau think should be in itts copy with a phone call or fetter. column? Please write to Mike "MIKES MONEY TIPS: Sfor- Grenby, North Shore News, Pf 34 Lonsdale, Nori Vancouver, VOM CHA. Include your phone number in case Mike aveds to contact Vou. Mike cannot reply individually but will answer as many of vour leuers as possible through the laages, tax Dreaks, financial plann- ing, planning tor marriage, Dreak- ing-up — the Public fegal Educa- ion Soviery has free classes this fall on these and other topics. Phone 688-2565 for a program... . North Shore News, LYALL -MSKERCHER FARRISTERS SOD H TORS We are pleased to announce that Anne Kober has joined Lyall McKercher. Miss Kober brings to our firrn over 14 years practising experience in the areas of Wills & Estates, Corporate Commercial and Real Estate law: Our firrn’s preferred areas of practise are *Corporate and Commercial * Taxation ¢Real Estate eLitigation Securities *Labour and Administrative eBanking and Insolvency eWills and Estates As the firm enters its 75th year. Lyall McKercher is committed to providing practical business judgment and academic excellence both in the practice of faw and in our role of achieving our clients’ objectives, Three Bentall Centre, Box 49052 3000, 595 Burrard Street Vancouver, B.C. 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