REGISTERED Retirement Savings Plans (RRSPs), the favorite tax shelter of the common ; taxpayer, are going to be made even more popular during the next five years. Last May 23 the federal budget proposed dramatic { increases: to the maximum i ‘amount that can be con- tributed to an RRSP. each } -year. By 1990, your yearly : contributions to. an RRSP could tot: $15,500 - a vast : increase from the 1985 max- : -imum of $5,000. to. Currently - for the 1985 1° tax year - you may con- : ‘tribute up to’ 20 per cent of : your earned income to an i ‘RRSP, to a maximum of ; $5,500. For the 1986. tax ' . year, this maximum has been i increased to $7,500. .. This increase was to have been the first step in phasing : in. ever-higher: RRSP max- H . imum contribution. limits. : ‘The new: rules; still not law i. - _ but scheduled to become Jaw ‘by 1987, would see that. >.“ . maximum increase to $9,500 in 1987; $11,500. in, 1988; { —, 1 $13,500 in 1989; and $15,500 : in 1990. Lisa Smedman This wouldn’t mean, however, that. if you made Budget Rent- -a-Car ey appt: only — SIGBE -& private accident claims handled promptly All makes & models. Call Mike Ruggles 987-7111 Tune: “up ? Special - from $36.95 & up —__] zg i 7 SUCis 44a We also paint .commercial vehicles - ae Free estimates . . ri iors RUE STE ¢ Free courtesy cars. Complete _ “painting « Free estimates © Free __ towing on N.S. © Fibreglass repairs no © All work guaranteed SE RITCHIE SERVICE CENTRE! 4525 Welch St. North Vanc.| $15,500 in 1990 you could sink every penny of it into an RRSP. The new rules would also lower the per- centage of earned income that can be invested in an RRSP to [8 per cent. So to contribute to the maximum amount proposed for the 1990 tax year you would have to be earning upwards of $87,000. To contribute to the max- imum of $7,500 to an RRSP for the 1986 tax year, you will have to earn at least $38,000 this year. The new rules, once made law, would also allow any unused portion of the yearly contribution maximum to be carried forward for as many - as seven years. So, if you won't be able to contribute to the $9,500 maximum in 1987, you'll be able to make the equivalent of those contributions you ‘missed in future years, once you’ve finally become wealthy. For the purposes of calculating how much can be invested in an RRSP, earned income is defined as gross salary, minus UI premiums, union dues, and employment expense deductions. It also includes net income from self-employment, rent- al income, pension income, .and alimony payments - received, among other things. The new rules propose to delete rental and pension in- come from this definition in 1987, - For those whose company © provides a registered pension or deferred profit sharing’ ‘plan, the 1986 RRSP con- FREE STARTER _ SALAD WITH EACH HALF ORDER OF PAS: Ta % MONDAY, TUESDAY, . WEDNESDAY & THURSDAY! Crisp, crunchy, fresh . the per- tossed salad . LASAGNA | tribution limit will remain at $3,500 minus your contribu- tions to that plan to a max- imum of 20 per cent of earned income. But this limit is also due to change in 1637, Remember that all of the above maximum contribu- tion limits refer to how much you can contribute to all RRSPs for the given tax year - not to how much you can sink into an individual lan. In 1983 (the most recent year for which statistics are available) deductions for contributions to an RRSP showed up on 15 per cent of all income tax returns filed that for that year. *The Vancouver. Money Show, to be held at B.C. Place Stadium next weekend, will be . offering 21 - Sunday, January 12, 1986 - North Shore News ‘Roof raised on RRSPs two seminars on RRSP3: one. at 6 p.m. on Fri., Jan. 17; and one at 4 p.m. on Sat., Jan. .18. Cost of admission to the show is $5 adults. *The North Shore Com- munity Credit Union will be offering a seminar on RRSP and annuity ceptions on Wed., Jan. 22, Cost of ad- ‘mission is $10. To register, phone David Knight, at 986-4321, loc. 272. | CENTRE FOR FRENCH’ STUDIES CENTRE D'ETUDES FRANGAISES 6161 CAMBIE STREET, VANCOUVER, B.C. V5Z 3B2. TELEPHONE 327-0201 : Vancouver. $4.25 HALF-ORDER Luscious Lasagna! Baked and prepared with meit sauce and cheese! The traditional Boston favorite. Great for Mondays. FETTUCINE - $3.00 HALF-ORDER Fabulous! Nutritious spinach pasta cooked al dente and smothered in your choice of clam or meat sauce. Terrific on Tuesdays. FRENCH LANGUAGE TRAINING All classes start January 20th -The most recent audio-visual methods in French _+ Qualified French instructors - Regular morning and evening classes - Placement for non-beginners - Social and cultural activities - Income tax deductible fees ALLIANCE FRANCAISE West Vancouver Chapter ‘Village Square, Suite#. 310, 1425 Marine Drive, West Information : 327-0201 Registration - Placement Tests Thu.Jan.: 16th 7 9 p-m. . ‘Sat. Jan. 18th 10-12 neon fect partner to a nutri- h, tious, tasty pasta lunch = from Boston Pizza! And Boston makes it better... now,.we're tossing in the salad FREE Monday through Thursday when you order a half-order of Boston's delicious pasta! WHO CAN PASTA BOSTON’S PASTA? a LINGUIN' $3.30 HALF-ORDER Very Special! Pasta serv ed with delicious clam. - sauce, Wonderful on Wednesdays. RAVIOLI $4.25 HALF-ORDER Irresistible! Pasta pouches filled with meat & spices. Simmered in meat sauce and baked with mozzarella cheese. SPAGHETTI & MEAT SAUCE $3.70 HALF-ORDER Great Anytime! Traditional pasta served with Boston's tangy meat sauce. 1078 MARINE DR., NORTH VAN . 984-0407