28 - Wednesday, May 18, 1988 - North Shore News

SEVERAL SOURCES OF FREE INFO
Asking amesti ns wi

WHERE CAN you get quick, accurate — and plain English
— answers to questions about your money?

I reply in my column to readers’
questions whore answers will in-
terest as many people as possible.
But my space is limited.

-Here are some other sources of

.. free information:

© Income tax. Contact your local
Revenue Canada tax office. Ask
for a. reference to the tax act or
other. authority. to. support: the

answer you‘sre given, If you have °

problems, deal with a supervisor.
_®@ Investing. Contact. both: the
“relevant - -profeszional organization

= _ and. individuals: —. the stock ex-

. change, Investment.: Dealers

eta

“i'm over 71, but my wife is
younger, receiviag only CPP and
OAS. ‘How mech of my pension,
investment and rental income can I
“Contribute to an RRSP for her?”

~ Association and individual brokers — ,

. for. stock market investments, ‘for -

example; or the real estate board
and agents for real estate. ©

_.@ Financial institutions. Contact ol

. the person: who specializes in the
“subject:
-» dpage department, ‘personal-Joans,

” RRSPs,- your typeof! insurance.”

policy, annuities, - -Canada Savings
‘Bonds: and so on." : i

provinci

high

the head’ of the mor--

= You may put ‘up to 20. per cent’

“of. your. pension and net rental in-

come into a spousal plan this year...
- Also. consider’ splitting both .your
Fand your wife's CPP. to shift-more .

+ income into her lower-tax-bracket

If: ‘oda 8° ‘uncertain’ ccoriomic.
climate worries’ you, pay. down the; ;

landlord, suits you, .: ‘perionally as’

_ financially, o conside

clare’ -$100, mo, capil gain. ae

in: e
ore about-our: 2 year. full-time. Business bs

nt: Diploma:

Programs which’start in:

come'to our’ yo Information, Meeting,

BUSINESS

$100,000. (Until this year, the tax-
able capital gain was onc-half of
the actual capital gain.)

oe

“About $20,000 of Canada Sev-
ings Bends matured two years ago,
with qaite an amount of
andeciared’ compound interest. 1
ar walting te cash them until I
stop work and my income drops.

iY around paying (ax on all

Mike Grenby

the ‘taterest?”? — -G. s..

"No... And:.is. the tax’ “you ar eS
“postponing more than the income
you are losing on” that: ‘money?
Under the new rules, you" will ‘no.
“Yonger”.be able “to | delay: |
* cumulated interest will have to. be’
“veported every three.years, even if
* you do ‘t collect the money. a

ace!

when we scl?” —A.Ko |
Provided you each contribute
your own money to the purchases

_ and have each been declaring the
income or losses, yes. By the way,

remember to do the calculations to
see if you will have to pay the
alternative minimum tax. .

one

‘Do you have a financial or ‘con-

il save you money

‘sumer question for Mike? Or a

story you think should be in his’
column? Please write to - Mike.
Grenby, North Shore News, 1139
Lonsdale, North Vancouver V7M
2H4, Mike .cannot reply in-.-
dividually but_will answer as many
of your letters as possible through

_ the North Shore News.

“Remember ~ to :include your
phone number in case Mike needs

“ta. contact you.

HOUSLEY CAPITAL
CORPORATION |

Invites you to participate: in-a portfolio.
Of high seat commercial’ real estate. |

1 Postat Code:

A _Mail to: Housley: Capital’ Corpor
| Box 10120,:701, West. Georgia, Van.,.B.C.