B6 - Wednesday, March 7, 1984 - North Shore News

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Keep more by paying less

DEPENDING on the source of your investment income, the difference in tax rates can be dramatic.

You invest to increase your own wealth, not dissipate those returns by paying large amounts of tax. It’s essential, then, that you be aware of Canadian income tax rules so you can maximize your after- tax income.

FIRST $1,000 IS FREE

The first $1,000 of total eligible investment income is tax-free to an_ individual. Eligible income includes: —Interest received from Canadian sources. —Taxable amount of di- vidends received from Cana- dian corporations. —Taxable amount of capital gains on Canadian

EACH YEAR most Cana- dians face thé task of taxes, and 1984-is no different. The Knowledge Network, with the help of the Certified General Accountants Association of British Col- umbia, hopes to make your job easier.

**How to Prepare an In- come Tax Return’’, is a live interactive program designed to help you prepare and file an individual tax return. This CGA sponsored program will

increase your awareness of ©

the mechanics of the income tax system in Canada. It will also help you develop a better understanding of the roles of the professional consultant, Revenue Canada personnel and the individual’s interac- tion with them.

This public service pro- gram will feature a phone-in segment which will allow en- quiries to be answered. It will

ax on

investments.

For amounts exeeeding $1,000, however, each of those categories is treated dif- ferently. lt is important to be aware of those differences.

1. Interest is the money earned from investments such as a savings account, a Guaranteed Investment Cer- tificate, or bonds.

2. Dividends are the in- come earned from holding shares. They are generally paid quarterly, and reflect a

distribution of a part of the

company’s profits. 3. Capital gains are best ex- plained through an example: If an investor buys 100 shares of stock at $10 and later sells them at $12, he has made a $2-a-share profit, or $200. This $200 is capital gains. Interest is taxed at

full

also allow viewers access to professionals in,the field who will give advice on more com- plex issues.

**How to Prepare an In- come Tax Return’’ will be telecast on Monday, March 19th, 1984 at 7 p.m. on the Knowledge Network. Check local listings for the channel in your area.

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rates — $1 of interest is taxed like $1 of wages. It is the most unfavorable tax treat- ment of all.

Capital gains and divi- dends are treated more fa- vorably. For capital gains, only half the gain is actually taxed; and for dividends, the tax rate is usually even lower through the use of the divi- dend tax credit.

For example, an individual

making $30,000 in taxable in- come would normally keep 63 cents of each dollar of in- terest earned, 81 cents of each dollar of capital gains earned, but 95 cents of every dollar of dividend income earned.

Other considerations . to keep in mind are the invest- ment merits of the security, the safety of capital, and the liquidity of the investment.

Beat the rat race

RAT RACE times two.

That’s too often the case for today’s career couples.

So it’s no great mystery as to why many people — newly-wed right through to retirement — are turning to recreation vehicles and camp- ing as the ideal great escape from the daily grind.

Everyday troubles of the working world quickly fade as you head out for a weekend or more of fresh air, pristine vistas and quiet country living.

And no need to rough it in your mobile home away from home. Everything you need for trouble-free comfortable living is right at hand.

Safe, quiet and economical campsites with full hook-ups set in B.C.’s_ breathtaking wilderness can be found throughout the province.

/AUSTIN

INCOME TAX .

° Confidential e Reasonable rates e Visit for free estimate ® Complete review for maximum tax deductions © In before 9am out before 5pm Suite 1-67 Lonsdale N. Vancouver (near Seabus)

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Or maybe a romantic inter-

lude of sight-seeing, theatre and shopping are more to your liking?

No suitcases to pack and no expensive hotel bills to pay. Just load up your conve- nient . mobile home-away- from-home and take your pick of the dozens of conveniently-located _first- class cityside camp sites for a fraction of the cost.

Either way life is a breeze. Cooking is fun and house-

work kept to a minimum in |

the easy-care, coordinated units.

So if life is a grind, why not head down for a peek at the good life at the 1984 Recreation Vehicle and Out-

color-

doors Show at B.C. Place -

March 8 to 11? It just may be your ticket out of the rat race.

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Information. on the Federal Budget

To know more about the budget, and the way it affects taxpayers in general, women, homeowners, small business, farmers and those who contribute to pension plans and pensioners, call toll free: 1-800-267-9380 from

8.00 AM till 8.00 PM CEST) from Monday to Friday.

Canada

Marc Lalonde Minister

Finance

Finances Canada

Marc Lalonde Ministre