The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

PAGE 18,WEDNESDAY, MAY 23, 1979, WHITBY FREE PRESS Facts for instant millionaires When people buy lottery tickets, there's a good chance one question is running through their minds: "What WOULD I do with $1 million?" Loto Canada wants win- ners to consider another important question: "What SHOULD I do with $1 million?" In addition to a free coun- selling session with expert financial and legal ad- visors, Loto Canada is now giving a special brochure to its major prize winners, Wise Planning for Loto Canada Winners. The bro- chure outlines basic finan- cial information useful to new millionaires, or to any- one who likes to dream in detail about what to do with a lot of money. In fact, much of the information in this Loto Canada booklet is invaluable to anyone con- cerned about managing his money, whatever the amount. Here are some pointers covered in the brochure: e. Giving Gifts -- Almost every big Loto Canada winner wants to give money to relatives, friends'or char- ities. But, the winner's tax free prize money may be taxed when transferred to someone else. For example, when giving a property or cash gift which earns income to anyone under 18 years of age, the income is included in the giver's income and taxed. Instead, give the child a non-interest de- mand loan, rather than making it a gift. This way, the child, who is in a lower tax bracket than the winner, will pay the taxes. Before making gifts, consult with legal and financial advisors who are familiar with the changing provincial and federal tax laws. . Investments and Fin- ancial Planning -- There is a lot of money-wise wisdom in the ôld saying "Don't put all your eggs in one basket". Vary investments: each type of investment iffers different advantages. Liquid assets, or assets which can be quickly con- verted into cash, are im- portant. A Canada Savings Bond is an example of a liquid asset, because it can be cashed any time. Real estate, however, it not nor- mally a highly liquid asset because it may take some time to find a buyer. In case of emergency, liquid assets provide a quick source of money, so one can avoid unnecessary losses from the forced sale of other assets below market value. Stable incone invest- ments, or investments which give a steady in. come, should also be in a financial program. An ex- ample of this is putting the money in a bank and drawing a set interest. An alternative is capital growth investments, or investments which get back more than you put in. Over the past number of years, real estaie has proven to be a good capital growth in- vestment. There is more of a risk with capital growth investments, but a wise in- vestment will return an in- come which more than com- pensates for inflation. A sound financial pro- gram will include the var- iety of investments best suited to the investor's needs. Expert financial ad- visors will develop the most appropriate program. e Income Tax .- All kinds of investment income are subject to tax, but taxes vary according to the nature and source of invest- ment. For example, if one receives a dividend from a Canadian Corporation, an amount representing some of the income tax already paid by the Corporation can be deducted from the in- vestor's income tax. One pays less tax on a dividend than would be paid on money earned from an interest paying investment. Before deciding where to invest, it is important to compare the amount of in- come each investment will produce after taxes. Another important con- sideration for income tax purposes is income split- ting. If there is only one member in the family in- vesting money, more in- come tax will be paid than if the same amount of money was invested by several people in the family. M.B.M. PHOTOGRAPHY FILM & PHOTO PROCESSING L FOLLOW THE.SUN Ff .....and when you corne home, leave your vacation films in our capable hands. They'll be ready before you know it, and then you can enjoy that vacation all over again. BON VOYAGE! M.B.M. - The Friendly Professionals 131 BROCK ST.N. WHITBY 668-6111 Monday - Wednesday 9 - 6 Open til 8pm Thursdays & Fridays Saturday 10 - 5 ail o àur work >""T"- BENJAMIN processed through FILM LABRT IES N WE USE KODAK PAPER & STOCK A SELECTION OF FILMS & FLASHCUBES c Try turkey pleces in a zesty sauce for a new taste in barbecuing this summer. Tasty turkey makes barbecues sizzle B arbecued turkey can mean a whole new approach to barbecuing. If you've been wondering about alternatives to some of the usual barbecue meals, try turkey this summer. Use turkey pieces for grilling, allowing ¾ pound per person. Ask your butcher to cut up a small whole bird for you if the pieces are not available at the meat counter. Prepare the pieces as you would chicken: brush liberally with vegetable oil or butter and then season with salt, pepper and paprika. Place the pieces skin side down on a greased grill raised 3" above the coals. Allow each side to brown for about three minutes and then raise the grill to 5" above the coals. Using tongs, turn the pieces often while cooking and continue to baste lightly. The sauceis used during the last half hour of cooking, unless it has a sugar base - in this case apply during the last ten minutes only. You may want to throw some additional herbs or spices on the coals at the same time; these could be fresh garlic or black pepper, rosemary, oregano, or basil. The meat is done when it is fork tender and pulls easily from the bone. Estimate 40 to 50 minutes for a thigh or drumstick and 1¼/4 to 1 ½ hours for a half turkey. Try either of these sauce recipes for tasty barbecued turkey. Orange Blossom Glaze 1 (6-ounce) can frozen orange juice concentrate (thawed). ¾ cup liquid honey. 1 teaspoon Worcestershire sauce. Combine these ingredients and mix thoroughly. Use to baste the turkey during the last ten minutes on the barbecue grill. Remaining glaze can be heated and served as a sauce. Yield: ½ 112cups. Durango BBQ Sauce 2 tablespoons grated onion. 1 clove garlic, crushed. 1 tablespoon cooking oil. ½/ cup catsup. ½1 cup bottled chili sauce. 2 tablespoons brown sugar. 1 tablespoon mustard. ¼ teaspoon celery seed. ¼ teaspoon salt. 3 thin lemon slices. Sauté onion and garlic in a small saucepan until tender. Add catsup, chili sauce, brown sugar, mustard, celery seed, salt and lemon slices. Cover and simmer for five - minutes, stirring occasionally. Cool. Baste the turkey during the last ten minutes on the barbecue grill, and reheat any remaining sauce to serve with the turkey. Yield: 1/4 cups. MANCHESTER COMMUNITY D' T N THE "PEOPLE PLACE" FOR COMPLETE, NO CHARGE, ONE STOP BANKING. (, ATTRACTIVE RATES. NOW IN EFFECT ON DAILY INTEREST SAVINGS ACCOUNTS & TERM IN DEPOSITS. I J T b e THREE CONVENIENT LOCATIONS Hwy. 12, Brooklin 655-4451 725 Finlay Dr., Ajax 683-0881 400 Dundas St. W., Whitby 668-4500 à