Photo submitted

CHUCK CONNAGHAN (left), of the Boys’ and Girts’ Ciubs of Greater Vancouver, presents the
1993 Friend of Youth Award to North Shore residents Bill Owen (centre) and Grahame Watt.
‘The two men created the Kiwanis Youth Volunteer Recognition Program.

Friends of youth honored

Sunday, June 5, 1994 - North Shore News - 27

An alternative to
being taxed to death

AS SOME investors near retire-
ment amass significant wealth both
inside and outside their RRSPs and
other registered plans, their reliance
on life insurance to provide for
their heirs is reduced.

By Russell Moidowan
Contributing Writer

With regards to RRSPs and
RRIFs, both plans roll tax free to a
spouse in the event of death.

But what happens if the surviv-
ing spouse outlives the assets in the
plan? In most cases, the assets
revert to the designated beneficiary

and are taxed in their hands. This
can be a significant sum and the tax
liability that comes with the inheri-
tance can force liquidation of the
investments to pay to Revenue
Canada.

This is something that we really
haven’t taken into account — pass-
ing on a tax bill when we leave
something for our heirs. There is a
solution, however.

It is possible to take out a life
insurance policy that is specifically
designed to offset the income taxes
payable, to grow ata similar rate as
your RRSP or RRIF, and ensure
that your heirs inherit your estate
and not a tax liability.

Canada's increasing $610,000,000,000

debt

® Drop in Canada's foreign bond rating
> Fall of the Canadian dollar

Achieve your financial goals
and retire with securi

JIM PERKINS
VICE PRESIDENT

"BUSINESS BRIEFS

will be Phil Roname, the retailing Jewellers; The Blossom Shop; Tri-_ F JRTUNE #1750 -1075 W Georgia St.
expert who helped plan Granville Strawberry Land. —

Island and the Whistler Town North Vancouver District:

Compiled by Kate Zimmerman

North Shore business groups and individu-
als wishing to submit items to Business
Briefs can fax them to the attention of
Kate Zimmerman at 985-2104.

Businesswvomen meet

The topic for the Sunday, June
5, meeting of the Association of
Women Business Owners is:
“B.C.’s Businesswomen’s Advo-
cate —- How Can She Help You?”
The speaker is Kathleen Costello,
the businesswomen’s advocate for
the government of B.C. She will
identify the goals of her office and
discuss her methods of helpiag
women plan for start-up and main-
taining'a business. The supper
meeting at the Georgian Club (400
W. Hastings St.) will begin at 6
p.m. Tickets for members cost $23,
for non-members, $28. For infor-
mation and reservations, call 732-
4175.

West Van Chamber holds
President’s Dinner

The West Vancouver Chamber
of Commerce holds its President's
Dinner on Tuesday, June 14 at
Hollyburn Country Club, 950
Crosscreek Road. Guest speaker

Centre. Master of ceremonies will
be Andy Danyliu. The evening
begins at 6:30 p.m. The cost is $35
per person. Reservations must be
made by Friday, June 10, at 2 p.m.
Call 926-6614.

Business births...

West Vancouver: Grapes 4 U,
wine-making supplics; Gabriella
Design, beauty salon; Stillwater
Drain Tile & Services, contracto:-
drainage: .

Norta Vancouver City: Twigs
and Blossoms, florist: Sleil
Waututh, retail trader; Sunflower
Polycane Factory Outlet, retail trad-
er.

North Vancouver District:
Lamps and Art Plus, retail lamps
and art, etc.; Andrew Lindesay M.
Ed. Psych., clinical counselling:

and business deaths

West Vancouver: jackee’s
Homecraft Gallery; West
Vancouver Furniture Sales; What A

“Notion Fabrics Ltd.; Dudek Fine

Leathers.
North Vancouver City: Radio
Shack (Westview);

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