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Page 12, Whftby Free Pros, WednMesday, JanuSry 31, 199 Your Financial Health YDerek Dutka Why invest in a rgsee savings plan? The word retirement 15 flot In the headlng because RRSPS can b. usod for rnuch more than retiremont. Here are five good reasons te invest. 1. Redue. curront incorne tai. The RRSP la one of the few' investments that provide you with a full doduction from your gross income, and you stili have control of the money. It la the only deduction that you can claim alter the Dec. 31, 1995 year- end. You still have until Feb. 29, 1996 to make a contribution that can reduce your 1995 incorne tax bill. 2. Provide for tax-sheltered growth. The RRSP should b. treated like a magical two-way mirror. You will se. overythIng that goes on and are ini complet. control, but the. government only 8098 what you.contribute and what you withdraw.Wh/en you contribute, thoy give you tai breaks; when you withdrqw, they tax you on whatever cornes out, Here's the beauty - you cen mk. that RRSP groiw as big as you can, and you don't pay one penny of tax on ItL Iz fact, you contrai when and how rnuch you talcs out until ae 71, when the RRIF rules kick in and force you te talc. a minimum annual witdrawal. Wouldnt it b. great te own an Investment for 20 or 30 years without paying any taxes on it? This dramatically increasos the speed at which compoundlng muc~rs. 3. Split bIcorne. In certain situations a spousal RRSP can ho a very effective way of reducing taxes now, as well as in the future. The idea is for the. higher Incorne spouse te make the contribution and get the. tai deductions,, but register it in the narne of the spouse who will have the. lower income when you want te talc. it out. (Be sure you understand how It works, as it la not suitable for everyone>. 4. Buy your flrst home.- Under the current homnebuyer'i plan, qualified individuals may withdraw up te $20,000 from their RRSP to purchase their firat home. No taxes are payable as long as you abide by the. 15-year repayrnent sciedule the. government sets up. Again, this may flot b. applicable or suitablo te you. 5. Tae a year off. Some clients have used the. RRSP te, build, up fimds for other than retirement. Two exemples are: a mother tokean unpaid lbave for a year te b.e at home with her newborn. They used smre of her RRSP to elIp out with the expenses and pù!d-vrftuay ne tax on the witdramwal. Another client went back te school for ayear. She used the. RRSP te help fund the, Costa without going bite debt. Because she had tuition and other expenses, and veiy little icorne, iii. peid a very emall amount of tai on her withdrawal. Wlth downsizing and cutbacks so, common today, It only makes sense te give yourselfsome flexibilhty by contributlng te an RRSP teday. Dmie Dut&a ME an in&pndenfinnalpla nne,. with Fina nda Concept Group in Oshawa. Ail together now . KELLY KING (right), GM Choir director, conduots an impromptu session of a group made Up 0f (from left) Durharn Lung Association president EIly Hobbs, GM choir accompanist Shàron Perkins andi choir treasurer Ellen Bnitton. Choir members recently presented $1,318' - some of the Proceeds from lhree choir concerts Iast pear -- to the lung association for Durnarn PhotO bY JerOfT1Y Dmsa, Whltby'Fr.. Prou Scouting leaders complete trami -ng Several Scouting, prog ram leaders from Durhamn Region recently tok part in Scouting' Woodbadge (part 11) programù. Scout program founder Lord Baden Powell initiatod Woodbadgo training in 1919 te help new leaders develop and deliver programs. The reoent training, heid at Camp Samac iu Oshawa, was for the leaders of youth at the. colony level (aged five te, eight). Those completing training were Gail Bunting, Peter Berry, Georgia Ho, Kathy Night Connie Zaminit, Cornelia Bulger, Brad Hart, Debbie Anderson, Carolyn Askeland, Coralee Dunk, Marsha Rockett,' Jack, Mekeever, Ries Wytenburg, MI Bosson, Don Grigg, Denis Tochinhat, Brenda Swaln, Valerie Bell and Margaret Williams. Course leader was Dennis Rodgers, coach was Lois Heaten, trainers Wayne Phillips, Debbie Fitzerrnan, Sue Palanik,- Delia Taylor, quartermasters *jocelyne Boullarine, Fran, Saltern and Barb B. BROOKLLN 19 Rehab approved for Brock St. underpas There will be a caUl for tenders for thre. projecta ini Whitby and Oshawa. The projecta are the rehabilitation of three bridges on Cam per Fleet Sale ON Nowa FROM $37,9W00 AIl the comforts of a motor home. Alil the case and efficiency of dnivi ng a van. Discover why Roadtrek is the best selling North American camper van. Roadtrek-- The Motor Home That.. Dri ves Lfe a Van'" by 05M HOME &FA4RK IW 0 -MOTOR1OMES OWASCO RECREATIONAL PrmveYt />~Tsince 1972. An mi CAREand GM award Wfnner. 1425 Dundas St. East, Whitby jb-WÂ686-6410 Highway 401: tue Brock Street underpasa in Whitby, the Albert Street underpass and CN overhead in Oshawa. "At a lime when governments at ail levels' are being forced to re- evaluate their spending, it i nice. toesee that projecta here in Whitby and Oshawa are receivihig tue go- ahead," saye Durham Centre MUPP Jim Flaherty. Document Shredding *High volume. equipment will reduce your shredding cost *Secure Iocked containers at no extra cost *Bonded drivers *100% of paper is recycled *Certif icate of destruction- *Volume discounts available year-end, clean-outs (AIL N01V (905) 427-3605 (Derrick) WASTE SYSTEMS By Steve Leahy As a resuit of varlous, fundraising efforts, Group 74 lhas beon able to donate $250 te Meadowcrest and St. Leo sehools. Group 74 organizos tue Old Tymo Christmas, co-ordinates the. Brookiin Spring, Fair parade and hosts an Oktoberfest dance, amongt other things. Andtuanko to Group 74 and the. Bank of Montrealsa volunteer grant prg- mthe. Broolln brandi library wlll aIse receive a $500 donation. Oshawa's Domis. Houa. for women often benefits from Group 74 fundraiuing efforts. This Urne Deniso House. received $200 frorn t"i Brooklin and District Kinsmen who asked Group 74 te make a donation on their behaif, for the Kinsmen effort te acquire tracteora and wagons for tue Old Tyme Christmas haynides.-. They flot only got the, tractors, but red-cheeked Kinsmen. drove the machines ail evoning long in tuat bitter old. And the. kids loved IBROOKLIN VOLLEYBALr. TOURNANM The second annuel as-yet- unnamod men's and women's volleybell teurnament was iield at Meadowcesat recently. Aftor dozens of gruelling, hard- fouglit and exhaustirWgames, Juat Another Saturday oulasted Hurry Up for the. overaîl championship;- Jet Setters nipped by Juat forpFun for thid place; rnuch-adrnired 2Tger Shors floated gracefully inte fifth position. Organizers were Meadowcrest teachera Peter Lotie and Sue Pipher'and voileybail enthusiast Sonja Grahain. CUPJD'S DESSERT AND CARI) PARTY Those Brookliites who faveur the. dessert table are in iuck. On Wednesday, Feb. 14, at 7.p.m., Broolin's United Church Women (UCW> will host an evening of cardsand ail the. fancy desserts you can eat. Progressive euclire will b. tue main card garne at the'United Church hall and prizes wiil b. awarded in varieus categories. Now, as to tue desserts, ]Pm teld there will b. virtually* evory calorie-rich creation known te mankind. Coffee and tea will aise b. provided. This evening han always been a great succeses ad numbers are limited. Tickets are $4.50 per person and must b. ordered in advanco. Cal 655-4559 te get ln on the flui. Amnnounesng Debra Nieholson. The new Postmàaster at Brooklin Post Office 2 Prince St., Brooklin Please join us Wed. Feb. 7196 to meet Debra between 8:00 a.m.- 5:30 p.m. Remhember to buy your Valentines Card & Valentines Greeting Stamps. Refreshments wilI be served. frîendship and a banquet of sweet dolectables. PLAYGROUP REGL13TRATION The Spenser Community Centre (Columbus Road and Country Lane> will ^hold' a speclal registration for its playgroup prograrne on Feb. 28,9 te 10 arn. For more information oeil 655- 3010. SORRY, MOM The telephone number for the. Morn's Morninge on Wednosdays at Brooklin United Church was listod 'incorrectly. For* those interested in alidnds of activitios while sorneone else is watcing the kcids, phono Yvonne at 655- 3223. BROOKLJN UNE DANCING Brooklin seniors' linedancing- classes begin Wodnesday, Fob. 7, at the, Broolin Cornmunity Centre, '45- Cassels Rd. E., Brooklin. The coot lu $22, for 10 weeks of classes. Register at the. Whitby Seniors' Actvity Centre. Cail 668-1424 for, more information. SSteve Lahy's colnnap'ei evr ekHe cmn e reahed at65-4398 or 655-5888 <fx). CORRECTION The Brooklin Pharmacy ad in the Jan. 24/96 issue should have been worded:.- "Or try the bactericidal mouthwash 'Listerine' ." The Whitby Free Pres apologizes for any confusion caused to their custàmers. A Gropeffort