RRSP TAX BREAKS Checking this save you some money ONE OF THE objects of this column is to help you increase your retirement income by taking advantage of all fegal tax concessions. Here is a list of items to consider as we ap- proach | the end of 1986. retirement planning by Bert Wickham *It has always been important to make your RRSP contribution as early as possible. Not only do you start earning tax-sheltered interest earlier, you will also get your tax receipt, and a possible tax refund, that much earlier. *Contribution limits for many people have risen-to $7,500 for 1986. Although some conservative advisers recommend waiting until early 1987 before taking advantage of the increased limits, it is still wise to place these savings with the financial institution of your choice as soon as you can. *The Canada Pension Plan benefit can now be deferred and an interesting option is developing. If you defer taking your CPP until} the beginning of 1987 you will start at a higher level than if you took your CPP at the end of 1986. It will take a while to make up the income that might be lost in 1986, but it will probably work .out to your advantage in the long run. *If you reached age 65 this year, you are entitled to receive $1,000 of Qualified Pension Income tax free. It is still not too late to create this entire deduction before the end of the year, but you must be quick. Your annuity broker or fi- nancial adviser should be able to help you. If you reached age 71 this year, there are a number of items you should attend to right away if you have not already done so: Service links investors MATCHMAKING doesn’t have much to do with bringing eligible bachelors and their brides-to-be together as the Federal Business Development Bank uses the word. But financial marriages are the objective of the bank’s matchmak- ing service nonetheless and increas- ing numbers of new partners now live happily together as a result. The service provides a com- prehensive’ referral facility — a catalyst between small and medi- um-sized business people with funds to invest and other business people who need funds. ‘Thus when a potential match is identified, FBDB brings the two sides together on neutral ground and works to facilitate negotiations for a satisfactory deal. Last year, portfolio of 364 investors with $72 million in capital to invest and had a detailed description and list of 414 investment opportunities re- Royal Trust is pleased to an- nounce the appointment of James M. Darke as Branch Manager, West Vancouver. James brings to Royal Trust an extensive background in Personal j Financial Services within the Trust | indsutry, including branch management. Royal Trust is Canada's leading | trust company with assets under § administration in excess of $60 billion, providing personal and cor- porate financial services from .coast to coast. the service had a quiring $114 million. Quite apart from domestic needs, the program is also useful for foreign investors considering emigrating to Canada. According- ly, FBDB is also working with Employment & immigration “If you do not exercise one of the maturity options by the end of the year, your RRSP will have to be liquidated and tax paid on the entire amount. Under the new rules, you have a wide variety of options to average this income over the rest of your life or up un- til age 90. *Remember you can still make a contribution to your RRSP even though your seventy-first birthday may have passed in 1986. Howev- er, it cannot be made after the end of the year as your RRSP will have to be liquidated by then. The 60- day period for contributions after the year-end does not apply once you have reached age 7}. Incidentally, until your spouse reaches age 71, you can stil] make spousal contributions even though you may be over age 71 yourself, All the above items have been discussed in detail in the North Shore News over the last few mon- ths and reprints can be obtained by calling 925-3101. These articles are intended to help you make the most of your income in retirement and keep your taxes to the legal minimum. However, as they are of a general nature, readers are advised to check carefully before applying them to their personal situation. to business Canada’s Business {Information program to make the FBDB facili- ties known to potential newcomers via Canadian embassies and con- sulates abroad. For further information contact your local FBDB branch. CAFE PUB a4 3rd Fioor " Lonsdale Quay Market Bx THIS WEEK — COMEDIAN Colin Campbell kkk Reo David Schendlinger Your ™.C. for the evening Kelly 1 Dixon i asi x SHOWTIME 8: 30 P. a aS YY Come early for qood seats. Heke tek atedhek keen % Daily food specials from $2.99. TIONDAY to THURSDAY: Roon- t 2am. FRIDAY to SATURDAY: Noon-2am. SUNDAY: Noon to Lipm. , 18 - Sunday, December 7, 1986 ~ North Shore News Planning kits ease LOW-COST do-it-yourself plann- ing kits are making life a little easier for many of Canada’s small business operators, according to the Federal Business Development Bank. Potential new users can find out more and examine the kits at all FBDB branches. Topics now available include: Arranging Financing, Forecasting and Cash Flow Budgeting, Analyz- ing Financial Statements, Evaluating the Purchase of a Small Business and Credit and Collection Tips. list MAY | small business load The kits cost $10 each including a narrative section to explain the theory and a series of work docu- ments to show how to put the theory into practice. When needed, help is readily available from FBDB staff and other experienced counsellors. According to the FBDB, the kits provide a highly effective means of upgrading skills for a broad cross-section of the small to medi- um-sized business sector — and at rock bottom prices. So far, across Canada, more than 32,000 kits have been sold. Do you know your mortgage balance?...find out from UNITED DATA SERVICES LTD. 681-4423 ® one hour phone service *can handle any problem © 10% discount on orders over $100.00 CALL 681-4423 Children’s | Ski Suits reg. 54 44. 98 980.92 11 nn VaLley Genre =