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34 - Sunday, February 16, 1986 ~ North Shore News

8, FREE CONSULTATIONS:

¢ RRSP
¢ MUTUAL FUNDS

-Yorkton Securities Inc.

221 W. Esplanade, North Van
(B.C. Rail Building)

appt. call Bob Jeatt_ 984-9371 |

AO} pRsP_

Growth in 1985

3 year Annual
aw Compound Rate 25.9%
7, Trans-Canada Funds Series ‘A’(New)
| Specifically directed towards the “small investor’.

Specializing in quality investing with flexibility to yield
performance. Compare results and for further informa-

Single parents get break

IN THIS day and age, when even two-income families have
a hard time making ends mect, single parents are bearing a

very heavy load.

it is very important, then, that
at the time of filing their 1985 in-
come {ax return, single parents
take advantage of every deduction
available to them.

One of the mast overlooked ex-
emptions when filing an income
tax return is the ‘‘equivalent-to-
married’? exemption. This is
available to taxpayers who are
single, divorced, separated, or
widowed.

As the name suggests, it will
allow a taxpayer to claim a relative
who is living with him, as if the
person were his spouse. It reduces
a taxpayer’s taxable income by
$3,630, thus creating a substantial
tax saving.

EXEMPTIONS
A single parent could claim his

youngest child as ‘‘equivalent-to-
married’? and claim the other

children as ‘‘whoily dependent
children’’. Of course the childrens’
net income for the year play an
important role when claiming these
exemptions.

For those parents with children
under 14 years of age at anytime
during 1985, or with children over
14 needing day care because of
physical or mental illness, the child
care expense deduction will be
helpful.

Although it has a ceiling of
$2,000 per child, with a family
ceiling of $8,000, it will help pay
for the care of children while the
parent works. This deduction is
also limited by the parent’s earned
income for the year, with a further
limit if a supporting person is
making a: partial claim on behalf
of the same child(ren).

Note that, generally, the tax-
payer with the lower income must
claim this deduction. Receipts

must be retained in case of audit.
TAX CREDITS

Parents with children under 18
at the end of 1985 may claim the
Child Tax Credit. The credit is
$384 for vach qualifying child. It is
reduced by the parent's net income
in excess of $26,330. Net income
of the supporting person, if any,
must also be considered.

If the children are attending col-
lege, university, or any other
educational institution certified by
the Minister of Employment and
Immigration and have no taxable
income, they could transfer to
their parents their unused ‘Educa.
tion Deduction’’.

All these may help single parents
somewhat compensate their
burdensome situation. Other
deductions of exemptions may ap-
ply in particular situations. It will
help to consult an expert in the
field of taxation before filing the
{985 income tax return. ;

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Printer

Desk Top

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FUND SERIES “A" (new)
Name
Address
‘ Postal
Code

(Business)

669-1660

dy ichard Pollard
lum sear ws Stance St.

rown Vancouver, B.C. V7¥ 143

MICHELE DAVIES ’ LORRAINE BULLOCK DIANE LEBOUTILLIER

18 YEAR

_ AVERAGE
ANNUAL
COMPOUND RETURN
10 YEARS 19.8%

3 YEARS 21.3%
Industrial Growth hasachieveda —] YEAR 29 . 3%
record of superior long-term returns. :

Berter still. it’s managed for you by Mackenzie Financial Corporation.
under a strategy that gives top priority to protecting your capital. . (e~aas a 9:30-6:00 Monday-Wednesday

It's the answer to reducing the stress — and increasing the returns — of : Y (a p 9:30-9:00 Thursday-Friday
your RRSP investing. Write or call for details today! . " . 9:30-5:30. Saturday

THE INDUSTRIAL GROWTH FUND RRSP 12 noon-5:00 Sunday, Feb. 23

Looking both ways to manage your RRSP.

tJ I'd like to reduce the stress and increase the
rewards of my RRSP investing. please send The
RRSP Answer Book.

NAME

An Autoptian reminder —.

As ageneral rule, stereo equipment mounted in the dash or console,

of a vehicle, is covered by your Autoplan policy, but items mounted

under the dash or: elsewhere, require a Special Equipment
“Endorsement. Be sure all of your equipment is properly covered.

See us at our booth in front of the escalator during February,
. Park Royal North Mail. .

_ That's the exceptional record of
Industrial Growth Fund.

ADDRESS

\ linger INSURANCE
SERVICES LTD.

POSTAL.
CITY : CODE

PHONE
fees iHome) (Business)
"All figures to December 1. 1985 Any offer made only by prospectus

_ Geoff Higgs/John Dingman
“IMPERIAL SECURITIES LTD.
1400.- 1130 West. Pender St.
Vancouver, B.C. V6E 4A4
‘. 687-3787.

North Park Royal
West Vancouver