24 - Wednesday, April 13, 1988 - North Shore News BUSINESS How well do you know your ‘retirement contribution rules? ‘TAKE. THIS quick true-false quiz to sce how. current you are on the latest retirement rule changes. .-T...F...Both 1988 and 1989 RRSP contribution limits will de- pend on 1988 income. i -. f...F... You will have a chance to roll over upto $107,000 of your pension. income: to. a spousal RRSP.” T. F...Lump’ sum ‘pension payment rollovers to: your RRSP * will have to be direct. All these statements are true, for once: again,’ Ottawa. has proposed some new rules affecting registered al ‘years, “but. oe. a. f:: government, you can most of, the following - ’ LO, pension plan), up to 20 per cent of _ your earned income. In .1989 the limit increases 19 $8,500 (but up to ‘only $8 per sent-of carned. in- come). In.1990, the limit jumps to - $10,500, then rises $1,000 a year to $15,500 by1995. After that, the: . 1991 (previously, this was {o start ; in 1990). This. special rollover is in addi- tion to regular spousal contribu- tions based on earned income. (So if you make the $6,000 roflover for those six years- plus. the maximum spousal contribution cach - year, your total would be $107,000.) limit will be indexed to changes i in. 7 the average. wage. © CARRY’ ON“ FORWARD. . * Starting in“1990, you will be able to carry forward for up to seven » Years unused RRSP contributions room from the previous year. | This: wiil |. make . it casier to “answer the question: “Should { _-pay- off my- non-deductible, debts“ ‘ first or. contribute to an RRSP?" “You will be able.to reduce debts, then make catch-up contributions. ° But. watch forthe alternative min- : imum tax, which could apply when , you “make: large’ RRSP., contribu- bution li your. own:RRSP, above te nornial . * COMMON-LAW) COUNTS. Although you “may not make spousal coutributions to. a com- mon-law spouse's RRSP, after death the rollover rules. will be changed to’.allow the ‘deceased's RRSF or registered pension ‘plan to be transferred directly, tax free, to the commoiu-law’S RRSP. (The , same will apply to an RRIF.)- ; The definition of ‘‘spouse’’ under the new proposals: one of — two people of the opposite sex who are married or have lived together . at least one year. ‘dollars and. sense Mike Grenby a ”The alitier of gold i is a bit cloud- "ed these days... ' Gold expert Peter Cavelti is.still | a’strong supporter of the precious metal asa hedge against the risks: of inflation. But because ‘of’'so niany conflicting economic pressures |and “trends at present, Cavelti {cels the long-term outlook . for gold is uncertain. In this month's Market. Repott, author and.‘ gold “fund” manager Cavelti’ suggests - 10 per: cent’ of he : person ‘sh assets” should © be’ in: : precious ;» : “recommends between 5 and 15 per. -metals. » He “normally adding the: regoriase i Meni! eat sand: “American gic : The PWP 6 Personal Word Processor! ' © Funchomasa SMITH | we CORONK [ Tomogrow's TecHNROGY IR TOUCH " ANEW CONCEPTIN. WORD PROCESSING UNFOLDS... from Sinith Corona. wes A pontatle peryanaleord procesior arid ° a typewriter, wath a kft-up screen foe urnple and convenient yet-up And the PAUP 6 offers advamc ert Seauses .. letter quakty pr ponang and compact.” portatebty ai none unit. r be dsm Corona Hterwnda °. Cr 0 craacer be hap tal Ooiplty makes v: word peocesung mode © Butn mena gut you every step of the yee fi correction