SES a3 ot a RSE RRSP changes in the |_ works NOW THAT Parliament is back in session, it is evident that the government will continue its policy of en- couraging us with tax incen- tives to provide for our own retirement. By Bert Wickham The following RRSP proposals are now before Parliament and will almost certainly be passed before the end of the year. Pensioners will continue to be permitted to make spousal con- tributions of up to 20 per cent of their pension income until 1990. This has been an effective way for retired couples to equalize their in- comes and thus reduce their total tax bill. For example, one spouse (usual- ly the husband) may be receiving superannuation, Old Age Pension and Canada Pension. If most of the family investments are also in his name, then the couple could be paying higher taxes than necessary if very little income is being reported in the wife’s name. Building up the spouse’s poten- tial pension income by means of spousal RRSP contributions is a simple way of improving this situ- ation and the government’s inten- tion to permit this for another five years is welcome news. The max- imum contribution is now $7,500 for 1986. Net rental income will also con- tinue to be included in the defini- tion of earned income fer RRSP contributions. Here again, a valuable incentive for taxpayers to make provision for their own retirement is restored. By using the present rules to their fullest advantage, a retired couple at age 65 can have an in- come of 2s much as $22,000 a year between them and pay little or- no tax. This is achieved by perfectly legitimate: income-splitting tech- niques as outlined above. Although the government has outlawed the old method of Ien- ding your spouse investment funds to‘reduce your own tax bill, there are still some valid techniques available to those who are prepared to take the time and trouble to achieve them. For example, where both spouses are earning taxable in- come, the lower-income spouse should be using his or her income for accumulation of capital to produce investment income while the higher-income spouse pays the domestic bills. If your spouse has no taxable income, then the creation of legit- imate pension and/or iiterest in- come for him or her could provide you with an additional deduction under the spousal transfer provi- sions. Careful attention to details such as these can make a substantial difference in the family’s after-tax income. Bert Wickham is one of B.C.’s foremost authorities on financial planning for retirement. This series of articles is designed'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 ta check carefully before applying them to their personal situation. MERCHANTS Show Remembrance Display a POPPY WREATH in your window Everyone Remember POPPY TAG DAYS 6,7,8 NOV Assist Canadian ex-service personnel and theit dependants in necessitous circumstances ... their sacrifices will ever inspire us to labour on, to the end tha! those who serve and now need our aid may be assured of assistance. Thank You for Your Kindness Contact: THE ROYAL CANADIAN LEGION Br. #118, 123 W. 15th St., N. Van. 988-3712 or 985-3255 Br. #60, 580, 18th St., W. Van. 922-1920 A.N.A.F. Vets of CDA #45 119 E. 3RD ST. N. VAN. 986-7811 Pere titel? ete ‘MAKING AN RRSP. INVESTMENT? TALK TO A LISTENER NOT A TELLER NO FEE — 60+ SENIORS SELF-DIRECTED PLAN CALL ROD CLARK 669-6262 2, Give like you've OM) never given before y United Way Four trips to anywhere Canadian Pacific Air Lines flies plus spending money! Every $500 invested in a GIC or Debenture before December Gis a chance to win 1 0f4 trips for two to anywhere in the world Canadian Pacific Air Lines flies. Approximate value $5000.* C . +t: anadian Pacific AirLines Et] Sky High Rates on GICs and Debentures. Upto ¥%4% more for Automatic Interest Deposit. Bonus rate for our Pre-Centennial Special. Ask for details. TW Central Trust Vancouver 750 West Pender St Tel. 684-2581 Monday-Thursday 8:30 a.m.-5:00 p.m. Friday 8:30.a.m.-6:00 p.m. *To win, selected entrants must correctly answer a time-limited mathematical skill- testing question. Full contest rules at your branch. 17 - Sunday, November 2, 1986 - North Shore News WEST INDUSTRIAL GROWTH FUND: Averaging 18% for 18 Over the past 18 years, Industrial Growth Fund has averaged 1&% in compound annual returns’. It's done well over the short-term, tuo. (Over the past 12 months, it’s up almost 23%.) But, impressive as that record is, theres much more you should know. Before you invest. call or send to: Name Address Phone MARK SHAHKI 669-1143 Great Pacific Management Co. Lid. 300 - 1190 Hornby St. Vancouver B.C, V6Z 2K5 “Average annual compound return since inception {18 years): 18.01%. One-year return: 22.97%. Figures to March 31, 1986. Offer made only by pruspectus. Te Se Eta ed ce i ite hte a et ISLANDS TRUST BOWEN ISLAND TRUST COMMITTEE NOTICE OF PUBLIC HEARING NOTICE is hereby given that all persons who deem their interest in property affected by the following proposed by-laws will be afforded an opportunity to be heard on the matters contained therein & at a Public Hearing to be held in the Collins Hall, Bowen Island, @ B.C. on SATURDAY, November 8, 1986, commencing at 10:CO a.m. & 1. Proposed By-law No. 59 would amend the “Bowen Island Official Community Plan By-law No. 14, 1981", by amending § “Schedule ‘C’ - Snug Cove Village Centre Development Permit § Area" to incorporate the area as shown on the following sketch § within the Development Permit Area. a \ Istand By amending the ‘‘Commercial (marine)"’ designation in Appendix : ‘G’, Figure 9"' as shown on the following sketch: ‘ In general terms the by-law amends Schedule ‘C’ and Appendix ‘G’ f and the wording in Section 24 and Section 57 to facilitate the ® establishment of marina expansion. : 2. Proposed By-law No. 60 would amend the ‘Bowen island § Zoning Bylaw No. 36, 1984", by adding ‘'2.11 Commercial 4A & (C-4A) Zone”’. In general terms the purpose of the by-law is to permit restaurant use, marine public house use, retail use, marina use and accessory uses to marina use. e In addition the proposed by-law amends Schedule ‘A’ by & changing the zoning designation for the property as shown on & the following sketch from ‘Commercial 1 (C-1) and Commercial 4 (C-4)"" to Commercial 4A (C-4A)". fe were A copy of the proposed by-laws may be inspected at the Islands « Trust Office, 717 Fort Street, Victoria, B.C., between the hours of & 8:30 a.m. to 4:30 p.m., Monday to Friday, inclusive. 4 For the convenience of the public only, and not to satisfy Section a 957(2) (v) of the Municipal Amendment Act, 1985, an additional copy & of the proposed by-laws may be inspected at the Post Office, Bowen § island, B.C. Cynthia Hawksworth, & Manager. ia