Wednesday, May 12, 1999 — North Shore News - 19 north shore news & BUSINESS Invest saved tax money From page 18 much slower rate than if com: pound rates of interest were applied. Over the vears, this difference can really add up. Factor in as well that the interest rate set every six months by the ministry is based on 2% below the prime rate and you have an extreme- ly cheap source of additional funds for anyone feeling the pinch. Seniors who desire to live out the rest of their lives in their own home may tind this program te be particularly appropriate. Some astute investors will do apply tor the deferral and invest their tay savings, intent on beating the posted prime- less-2% borrowing rate. Time is on the investor's side as investivent returns compound and borrowing costs accrue using the milder simple inter- est rates. Applying tor the deferral is pretty easy. Applications are available from vour municipal hall or government agent office as it reads on your prop- erty tax notice or call the department office in Victoria at (250) 387-0340, Be sure to review the details of vour agreement care: fully. For the Web triendly crowd, information is available Me