BS5 - Sanday, February 13, 1983 - North Shore News By THE INSTITUTE OF CHARTERED ACCOUNTANTS OF BRITISH COLUMBIA Your age adds up to savings at tax time. On your 1982 tax return, you are eligible for a deduction of $2,220 simply for being age 65 or over. In many cases, the first $1,000 you receive in pension income is_ also deductible. Payments from superannuation or pension plans, an annuity from a registered retirement savings plan, a payment from your registered retirement in- come fund or retirement payments under a deferred profit sharing plan all qualify for this deduction. If any of these payments have been received by you as a result of the death of your spouse, they may be in- cluded in the calculation of the deduction regardless of your age. Pensioners under 65 who receive payments from a superannuation or pension fund can also take advantage of this deduction. If your spouse has received pension income qualifying for the deduction and his or her income is too low to take full advantage of 121," FIVE YEAR | pflation isn’t the only thing eating | ay at your money. It seems everyone Tax breaks for pensioners the deduction, you may be able to claim all or a portion of your spouse’s unused deduction on your return. If your pension income is in excess of the $1,000 allowance and you did not reach age 71 in 1982, you may be able to defer tax on the excéss amount by making a special con- tribution to a registered retirement savings plan. A professional tax advisor can advise yoo of the rules. Many pensioners also have income from other investments such as stocks or bonds. In this case you are eligible for the interest, dividends and taxable TERM : subject to change wants a piece of your cake. So bite back : with a National Trust RRSP 1. Short Term Deposit. Farm a high, guaranteed rate of | interest for Fo months of 6 months 2. Guaranteed Deposit. bam a high rate of interest guaranteed for the tenn you choose No fees }to S years No fees 3. Monthly Compound Interest Fund. bam interest cak ulated on the muninum gonthly balance and compounded monthly for fast prowth No fees Or choose our bquity bund ora Self Directed Plan Phe deadline for 1982 contributions is March 1, 1983. Come in soon and Ict's talk about your RRSP. Othees located at SV0 Burrard St O84 8151 Wost Varmeauevet Pack Koval South aya a National Trust “EE Wor Burnaby Beenutwonn! Mist! POO GNKS VOV3 7 Pde eneensnne Sa OB] -454H1 Natronal Drust. You can bank on us capital gains deduction of up to $1,000. Pensions under the Olid Age Security Act, benefits from the Canada Pension Plan, a retiring allowance, death benefit or tax exempt income do net qualify either of the $1,000 deductions. However, these payments can be rolled over into a registered retirement savings plan. The payments from the plan would then be eligible for the pension deduction. Volume III for -—- $1,000 — ITS ALWAYS BUSY on the docks at Lynnterm with ships loading and unloading goods from all over the world. SPECIAL *19°° North Van Aut * passenger cars ently © air conditioners & light trucks extra © parts extra if required b 1175 W. 15th St., North Van 985-8705 Advertisement No. 4 Learn to Draw Dept. When Mrs Peggy Pitt Brooke of the North Van Chamber of Commerce nipped in to our office this week on a bit of business. | knew | had found the nght person The tdeal person Here, after all, was a kind, sweet lady who's avowed professton was to act as a general booster for all things bright and beautiful on the North Shore What axe could she posstbly have to gnnd? blow far beneath her was bias or favouritism oor duphaity She was the one with — the proper kind of neutrality |had been seeking She stuck her hand deep mito the henmnetically sealed cardboard box full of enmes for our Dheousand Dylans Worth of free Kepatrs Contest in went her hand and cat canw Mr Coeorge Kirk oof Kark & hee tric lreabeed with dismay that tt world look lthe the fp was th 1 hroca Geroge Kark be has had a van oa jeep and a thick repatred here mm the tast ywar tout then | hie all cof our customers. pretty much, so we had to let it stand Way to go, George You win, fair and square fronclad Guarantee Department 1 suppose one of the reasons George gave us all the business last year was aur hidebound guarantee Most body shops offer a standard 3 month, 3000 on thetr work, mike warranty but at Crash Pad we walk that extra mile We'll go you a full year year bamng acts of naturv like a bridge falling on your Car, ora horse running ito tt Dont laugh last year we had two horse ancidents One was trom North Van and the other from Vancouver Island where a filly sideswiped an auto with tts ann the windshield and dotng qrevicns both, thar to the quarter | alway? knew thathurses were tougher than cars and stheruld ecomonmc Collapse occur yaar can took for us fo apen a stable and sauthy she runaway shatterng Tear ay L315 Cotton Dre (Main St ) North Vane ouver across from Park & Tilford Member North Shore }_xecutive Assn Len Macht Toldja So Dept. You've heard the plash = ot raindrops late not as due as the warming | issued last ber about glaciers nosing dhe tr way down Lynn Valley Road and woolly taammeths ap pearnng at the city durnp. but enough to kindle dreams of wanner climes We offer an escape route a typ to Menico or Hawan with $300 mad money and cur Contest ends March $1) We expect ne nore than LOO entmes te geo mites the hat for thas one ose come oon down and beat the vdds Ut shrowabedsy (be fo tard 6 lot better shot than sore Qevemnenenit botteres to caoulel Pattie And remember whole lotta body shop LUA Coton Dra N Sani 980-4581 WE TO a OPEN | SATURDAYS!