Pind

coat

“ come.in. These. are ‘companies that

“these people-have is between one o,

38 - Sunday, April 13, 1986 - North Shore News

Discounters take bite out of returns

DURING the 1983 tax year customer. If the customer can't be Critics of tax discounters say
(the most recent. year for contacted within 30 days, the ex- that Revenue Canada should work
which statistics are ‘ess money must be returned to to lower the time it takes to pro-
available), more than 11 Revenue Canada. cess an income tax return. ‘
million Canadians received a
tax refund from Revenue
Canada.

" compound returns,
And. that’s consistent RRSP ‘prow over the ¢ long ter term, For.

more ‘than 15 years. (Over the past three years, it’ S averaged more '

than 19% annually.) °

. But, impressive as that record i is, there’s much: more you should kno

-. Before you buy any RRSP. pohars

“On behalf of the City of North Vancouver, District of North Vancouver, Scho
Districts at, 44 and 45, North Vancouver Rec. Commission.

Date: "Sat. April 49th; 10:00 A.M.

. Place: : North Van. Rec. Centre Arena
: . (23rd and Lonsdale)

Salu Day 9-10 A.M.

‘Proview:

ye

“i ‘74 bicycles, police recovered goods, -skiis and boots, tools, ¢ cameras, .ff
. &@ typewriters, calculators, chairs, tables, duplicators, photocopiers, desks,

ig drafting tables, tape recorders, projectors, potters wheels, fire extinguishers,
Ԥ _ cord organs, schaffer ice cream freezer, food prep. equip., sewing machines.

. “Lit Glendinning
onde

_ Collector’ S postage stamps - 2 Queen Victoria .
: and 1 King Edward 7th | ,

Terms: Full payment day of sale by cash, certified cheque, Mastercard, visa-
— No exceptions.

Es
Refunds for the 1983 tax year
totalled close to $7 billion — an
average of about $630 per refund.
Currently, :there .isn’t any
backup at the. Surrey’ Taxation
Centre. Some ‘returns are being
‘processed in as: little as two to
three - weeks. The longest you
‘should, expect to:wait for your in-
come tax:return to be assessed is
about eight weeks.’
, But. what. happens if you need
‘the money ‘from’ ‘your refund right ;
away?
This ‘is where: the tax discounters

will calculate.’ “your ‘refund,’ ‘have?
you sign. it over.to them, and:-hand- |.
you a cheque: for a-percentage of |:
the refund. Usually. the money is :
in our hand that some day.

Tax discounters have been >A t 17,18,19
allowed to_ operate. in: every” pro-. Js * urs., Fri. &
vince except Quebec: since’ 1978; °°": : :
-, Until last.. year, . tax. discounters .
could charge’ a flat 15. per cent fee

© Hwy

Emme Heir & Skin Care .

* Studio: BO

Bobb Cutt:

-Trandsetters .. 148 E. 2nd Ave, "NY.
}

Most of those who used t the 5 tak’ :
discounters were, low ..income my
earners who * urgently needed
money: .‘‘There is no freedom of -
‘choice: for these people,” Says MP
David: ‘Orlikow,-consumer critic for:
the NDP..!*No. bank will give them
credit’for:a’ loari::The’ only choice’

discounter and another.”’
“One-third of those who use tax

discounters in 1984 earned less

than. $2,000, while two-thirds

quatitied designer.to your h
for a‘free cosultation |

earned less than $8,000.

: Many refunds handled by tax
discounters take the. form. of pay-
ments of the child tax credit, which

can. be’ claimed by ‘those. with no

earned income at all. A proposal
contained in the. Feb. 26 federal
budget, which will sce two-thirds
of the child tax credit paid in ad-
vance each November, will take a
bite. out of. the - discounters’

business. | :
: Tax discounters set different

minimum amounts. for the smallest
refund they will handle. At H&R
Block, tax refunds must total. $100
or more. At Bentax. at least $150.
By law, tax discounters must
mail their customers a Statement of
the exact amount’ of refund the
company later receives from Reve-
nue Canada. If the: discounter
receives. more moncy than was
originally. - calculated, «any extra

over * “SI “must: be- refunded -to: the -.

© CUSTOM: DESIGN -
Specitic needs and space

CUSTOM. Mirror, Doors available

CREATIVE: ‘CLOSET. co. does

‘custom on-site construction. Un-

ike. others, we never use cheaper
e-built modular,uni .

erreur . ‘ . : noe 7 ii . 7 : .
arwesn eel ped! . ; immediately

Teme eye 1] LICENSED INSURED

based
onétt-
closet size

- CLOSET COMPANY

Attn ceamte sk eee

**© 1984 Catifornia Closet Co Inc.” ”
All rights reserved

‘Formerly knowin as
Creative Closet Company

ote INSTAL. LATION and DELIVERY,
./ at reasonable sates.

Serving The Entire”
~ Lower (Aaintand

50,000 CLOSETS BUILT
* SO LOCATIONS EST 1978 /