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What should you do with your tax refund? Believe it or not, the majority of Canadians receive an income tax refund. This 15 not just because Revenue Canada is in a giving mood, it is because you bave had more tax deducted frorn your pay cheque than was necessary. Unfortunately, many people wait until they get their T4 slips, do a rough tax calculation then put the minimum amount into an RRSP 80 they will receive a slight refund. Under the manual filing system, your refund would corne in June and you would treat it as a summer vacation "bonus" and forget alSoutiîncome tex until the foleowing year. 1Electronic filing (E-file) was allowed for the very first time in Ontario this year. I have been using it with my clients and I think it is Just fantastie. The information is transmitted electrenically from my computer system to Revenue Canada. Within twe te three weelcs, my clients have been receiving their refunds. What is even more rewarding 18 that mny clients are taking that refund and investing it wisely. Here is a list of the meet comnion uses for their 1992 income tax refunds: e imake an early contribution to your RRSP (spousal if applicable); e pay off a personal debt (and invest the monthly payment); 0 pay cash for a persenal-use item and borrow the saine amount te xnvest interest on investinent boans is tex deductible); e donate some ef the xnoney te a favourite charity (tex deductible); e invest in an 'open' acceunt te take advantage of tax-preferred dividende and tax-free capital gains. If you didn't get a refund, or would like a bigger one next y ear, you need te takeso8m1e action now. Continuing as you have in the p ast will yield the same results as always. Take advantege o f any one of the five ideas mentioned above and I guarantee you will be better off next year. In fact, I challenge yeu te do better for yourself. Fer example, make a commitmnt to, increase your RRSP contributions b y $1,000. That's only $25lweek betweea now and the end of riebruary 1994. But look at what it will do for yeu -- yeu will have $1,000 more invested (plus interest) and will be eligible for $410 more (average tex bracket) in tax refuads. Unfortunately statisties show that less than 25 per cent of o u wiIl responâ te this challenge. If you would like te do etter, but don't tlfiii you have the willpower or the knowledge, contact an independent financial plannler, or cal My office. ý se ------------ WILD WILLY'S WESTERN WMAR bots, shirts, bats & acoessorles K-MIART PLAZA (nexita Koo Koo Bananas) 432-WILD (9453) AT WHITBY CHRISTIAN ASSEMBLY 100 Rossland Rd. W., (Corner of Brock & Rossland) Enjoy the music and minist'y of Rev. & Mis. David Johnson of Waupaca, Wisconsin Sundays, May 9th & l6th at 10:30 amn & 6:00 pm Weeknights Monday thru Friday at 7:00 pm Everyone is invited! Whitby Free Press, Weclnesday, May 5, 1993. Page 9 LADIES' DAY f 9:3Oanl - Tea with the chidren M Ail Ladies will reoeive a small gift! 11:OOam - Declicated to the ladies L~~~~~ ofo1cmuiy Special music by the Children's "Siflglfg Company' 12 Noon - light refreshments following - Judging of the cakes A Cake Bake-Off will be held -to determine the best taste and the best decoration -(Open to men only) -PRIZES For information about the day please phone - - 668-7477 or 430-3454 192 Kent St. Whitby Dundas St. W. Pa If you th«ink you don't know. a woman who is a victim of violen ce ~*5~* y jk~ ,.,Look aan The woman down the stiteet, your co-worker, your best friend-anyofle can be a victiff of violence. As neighbours and friends, we ail have a role to play in -Inding the abuse of women. For the safety of our homes and communities, let's put an end to violence against women. Violence against women hurts us ail. Statu s et Women Condition féminine C n d 1*ICanada Canada xm d