OK, THE SkY IS
FALLING.

OH, DEAR,
WHAT TO DO?
WHAT TO DO?

HERE'S AN IDEA!
GET OUT OF THE WAY.
How?

START WITH SOME

INFORMATION ABOUT :

WHERE YOU STAND.

We Canadians know
the social safety net is full
of holes.

We've all had to come
to grips with the New Age
working world, where
§ nobody just works nine to
8 five, and nobody expects to
~ retire with the gold watch.

We were taught early
on that money can’t buy
. happiness. Fact is, money
wisely deployed can buy

Sa pretty decent retirement.

But you've got to know
where you stand, to know
- where to start.

Here's a dose of reality:

“Gulp! Who, me?
Save $715,761?

What to do!?
What to do!?

Be brave.

GET YOUR OWN
REALITY CHECK FROM
SCOTIABANK.

It's a comprehen-
B : sive, 8-page financial
’ analysis, that * M e€
: tells you where
' you stand with
your retirement
plans and helps
you figure out how

to reach your goals. bi

Its about you.
Not samebody tike vou.
You.

With your name and your
aumbers and the reality

of your own financial status.

What vou'll find out
is that you're probably not
hopelessly behind. There
are things you can do.

Welll give you a lot of

f options.

We'll show
you how to
catch upon
your unused 3
RRSP contributions.

Start by calling
Scotiabank (or visiting our
web site) and asking
for your Reality Check™
report. First, you give
us your numbers, then we
go to work. When we're
done. we'll mail you your
personal financial report,
with a plan of action
based on veur personal

. Circumstances.

Real choices. Options.

§ Solutions. In your hands in

about 10 days.
And you'll love the price.
It's free.

We know you want to
take control of your financial
future.

We know there's some-
thing you can do.

Because

doing

Scotiabank
What to do:

1-800-327-4888 www.scotiabank.ca

“Registered trade-mark of The Bank of Nova Scatia.
“WTrade-marks of The Bank of Nova Scotia.

Beware of
changes

From page 23

you can shift income to save
tax by contributing to a
spousal RRSP.

Pay down debt or con-
tribute to an RRSP? The com-
puter can show which is better
for you. In general, contribute
to the RRSP to build savings
for retirement G: a pre-retire-
ment emergency, then direct
the tax you save to pay down
debt. Should you borrow for
an RRSP if you don’t have the
money to contribute? Yes —
provided (in most cases) you
will pay off the loan before the
end of this year.

Mike Grenby is a North
Shore-based columnist and
independent financial adviser
who works with individuals.

Tipping a and t taxes -

DO you carn a regular income from tips and gratuities? 3
Servers and others who earn regular income from tips
and gratuities should keep a diary of the amounts they

receive. Just because the money is in cash and records may jf
not be kept doesn’t mean Revenue Canada will forget 3

about it. If the amount you report is differerst and some-
one decides to ask why, you must be abie to back your fig: #
ures up. If you receive lower-than-avera—e tips, a diary can 5

prevent an unfair assessment.

Young writeofis

“ DO your children help you run your business?

If your children help you run your business, vou can pay

“, them’a salary and deduct it from your
when preparing your tax return. The salary must be rea-

sonable for the type of work perfor
Putting your kids on the payroli could mean deductions

on your tax return. ‘e
Information for Tax Tips is provided as a public service by 3

the Chartered Accountants of British Columbia.

arent IN

AE DHE OT
Rss tae rd eines

Pa wwluk, Voigt

Chariered Accountants

° Personal and corporate income tax returns

@ Tax planning
* Accounting and taxation for owner-managed

businesses
* Auditing

© PS.T. & G.S.T.

Serving the North Shore for 20 years
Conveniently located across from the Park Royal Hotel

ess income

& Such.

In today's world of complex ruies and regulations and punitive tax rates, can
you afford not to have a competent professional advisor? Call Helen to D arrange

an initial no-charge consultation.

304-545 Clyde Avenue
West Vancouver, B.C. V7T 1C5

Retirement
Planning Solutions
That Fit

922-9325

Fax: 922-2695

LOOKING FOR A RETIREMENT PLAN |
THAT SUITS YOUR SPECIFIC NEEDS?

Sa GUARD,

SOLGUARD FINANCIAL LTD.

Consultants & Brokers since 1974

1205-675 West Hastings Street

Vancouver

638-9577

Tax SKELTERS GALORE INC
Be Git) oD

Ldld|

° RAIFs / LIFs
* RRSPs

¢ GICs / Term Deposits

« Annuities

* Life Insurance

« Self-Directed Plans

401-Kapilano 100, Park Royal South

West Vancouver

925-3101