#8 — Wednesday, April 28, 1999 — North Shore News

north shore news

» BUSINESS

Paying RRSPs early increases savings

YOU promised — or
you should have
promised — yourself
you would finally get
ahead en your RRSP
contributica this year.

If you will somehow man-
age to find a couple of thuu-
sand dollars next Febrary, it
has to be casier to find 1 cou-

le of hundred a month
tween now and then. Use

any tax refund to kick off this
year-ahead program. Divide by
10 the amount you expect te
contribute for this year. Make
the first contribution on May
1 and you will be finished by
next Feb. 1.

Revenue Canada might
¢ven chip in a few dollars
throughout the year. If your
RRSP contribution will create
Or increase a tax refiind for the
1999 tax year, ask your local

tax office for a form to give
your employer permission to
withhold less tax from each
paycheque. (Some RRSP insti-
tutions will even help you file
this form.) That way, a $240
monthly contribution program
could boost your take-home
pay almost $100 a month if
your taxable income is roughly
$30,000-S60,000. So you
have to tind only another
$140, not the whole $240.
“Do you scramble every
year to meet the RRSP dead-

NEWS photos Julie iverson

BEST Labels’ proprietor Kasha Rudner specializes in

. casual fashions.
~ Canadians
are casua

a “From page 17 .
all. South Aftica
igh end. They like to
off expensive _ stuff.

Poland also, They like to dres

elegant.
Rudner has operated the
new and resale consignment
» fashion store for two-and-a-.
half years. She. specializes in
quality resale fashion and facto-
ry samples.
-So what's hot on the North
Shore for spring and summer? .
‘~  “¥vs mostly. smart casual

". stuff in this area. Comfortable

clothes that at the same time
-look good. Some people still
buy business wear.”

Rudner ‘also does alter-

ations and stocks locally made
formal clothes.

Nice threads

Customers have two
options at Jax Fashion Fabrics.

They can buy material to
make their. own clothes. Or

. they can buy the finished prod-

uct right off the rack.

Either way, manager Louise
Cheung promises competitive
prices for blazers and bolts.

The North Shore link in
the chain of four outlet stores
features locally manufactured
items. Cheung says the store's
specialty is career wear and
suits, but: there’s everything
from cotton to wool, buttons,
thread and belts under the
roof.
“We need to know about
fabric, we try to service our
customers well. Basically we
sell a lot of suits and jackets and
pants and skirts.”

“Apply how on-line foralowcost
HOME EQUITY MORTGAGE
WWW. 34. saws Ben 6 ~

Ww

aT

* International Business Law

« International strategic partnering:
technology alliances,
distribution,
import-export

© 15 years experience, 9 years living
and working in Japan and the US

~ Tel: (604) 913 8880 Fax: (604) 913 8881
-- Email: gsenda@uniserve.cora -

line?” asks an HSBC mailer.
The Hongkong Bank of
Canada then gives an example
of putting $100 a month into
mutual funds.

In month one, the mutual
funds units are priced at $12
so your $100 buys 8.3 units.
In month owo, the price drops
to $7 so you end up with 14.3
units. In month three, the
price bounces back up to S11,

giving you 9.1 units.

Over the three months,
your average cost per unit ”
($300 divided by 31.7 units) is
$9.46. As long as the price
eventually trends higher, you
will make money. But the
main value of this dollar-cost-
averaging approach is the dis-
cipline it imposes: you save
first, then live on what's left.

Tramark points out the

extra tax-sheltered growth of
vear-ahead investing really
adds up. Contribute $5,000 to
your RRSP at the beginning
instead of the end of cach year.
With 10-per-cent annually
compounded growth over 5J
years, you will lave $904,717
instead of $822,470. That's an
extra $82,247.

If you borrow to make
your RRSP contribution each

Conservation

year, aim to pay off the loan
by mid-summer — perhaps
with the help of a tax refund.
Then continue to make your
payments, only now redirect
them into your RRSP conti-
bution for this vear. You
should never have to borrow
again.

— Mike Grenty is a coluim-
nist and independent persanal
financial adviser.

Means More Fish for
ada 'S Future:

An Important Message from
the Minister of Fisheries and Oceans

In British Columbia, Pacific salmon reached a turning point last year.
With some stocks at risk of extinction, it was time to put the fish first.

Last June, I announced conservation measures that changed the way we
manage the salmon, and the way we fish. That plan followed extensive

consultations plus the advice of Fisheries and Oceans biologists and local
staff with wide experience in BC.

I know the changes have not been easy for people in the Aboriginal,
commercial and recreational fisheries. That's why the Government of Canada
. launched a five-year, $400 million program to restore salmon habitat,
reduce the commercial fleet, provide people with employment assistance
and help communities diversify their economies.

The good news is that conservation means more fish for Canada’s future.
Already, some salmon stocks are returning to BC spawning grounds in

greater numbers. Still, rebuilding will take years, and 1999 will be-another
challenging year.

Salmon face a complex set of problems; some are within human control while - .
others are not. Cooperation, with the United States is a crucial issue that we ~~

can address. As we have done in our own waters, we must also put fish first
in the Canada-US Pacific Salmon Treaty. ;

' Last year, we reached interim agreements on conservation and catch shares
for fisheries along our southern boundary. The result was a 75 percent
reduction of Washington State's harvest of our threatened Thompson River
coho. Unfortunately, there was no agreement with Alaska in 1998.

Since last year, experts from both countries have been working to reconcile
differences over science, management and conservation. Neither the patience
of Canadians nor the health of the resource wil! support the status quo.
With political will from all sides, we can build on the progress of last year.

In this year's Pacific Salmon Treaty negotiations, Canada will be pressing hard
for a long-term, coast-wide agreement that moves fish to Canada, and conserves
all stocks by improving Canada-US cooperation. Taking action now will help
bring greater certainty and security to BC fishermen and communities.

Conservation will mean more fish in the future for everyone. If you would like
more information, please visit our website at www.dfo-mpo.gc.ca, call
1-800-OCANADA (1-800-622-6232) or write to me with your views at the
House of Commons, Ottawa, K1A OA6. ; .

Sincerely,

“Dovid ube

so

David Anderson
Minister of Fisheries and Oceans

Fisheries and Oceans Péches et Océans
Canada

Canada