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st Soi a a me a "Scugog's Community Newspaper of Choice" vy 5 | DJ TAYLOR [i INSURANCE BROKERS LTD. " FIVE YEAR 169 North St., Port Perry L9L1B7 Guaranteed Investment Certificates (Rates Subject to Change without Notice) 8.75% PHONE 985-8416 | 3 ONAN (I NIB 2 10) 00 X 0) 232020 3 NER) Annual Yield Maturity Date Ontario Hydro 9.35%* June 24, 2002 *All rates are based on yields to maturity, as of February 6, 1995 and are subject to change and market availability. Semi-annual interest; high quality bonds; instantly marketable Compare Bonds vs. GICs and Mutual Funds "Establish a Self-Directed RRSP Office at Bank of Montreal, Port Perry call Christopher K. Thomas, investment Advisor (905) 985-3636 (NERNREES INS Nember of the KNOWLEDGE is POWER Women and In the last decade or so, Canadian women Tips for home business Starting a business from your home can be a very attractive idea. It can be a good starting point for some, as.overhead ex- penses can be minimized. How- ever, in starting a home busi- ness, there are other things to consider that require careful fi- nancial planning, knowledge of government compliances and other administrative tasks. Here are some planning points that you should consider. 1. Business Registration Make sure that your business is registered and the business name is searched, so that you are not using an existing busi- ness name. (Note: you do net need to register the business, if you operate under your own name). 2. Bank Account Open a separate bank ac- count for your business. This will help separate your person- al transactions from your busi- ness transactions. 3.GST You are not required to file re- turns if your income is below $30,000. However it may be to your advantage to register if you make inventory or large equipment purchases, as you will be able to claim the GST that you paid on your purchas- es. If registered, you are re- quired to keep track of the GST collected and paid separately. 3.PST Determine whether or not your business should be charg- ing PST. If so remember that you are exempt from paying PST when making purchases for resale. 4. Bookkeeping Keep your records current and in an orderly fashion. In- PENNY & ASSOCIATES ACCOUNTING SERVICES COMPUTER TRAINING ¢ ACCOUNTING NEW BUSINESS SET UPS TAX SERVICES CONSULTING 180 MARY ST. UNIT 10, PORT PERRY ¢985-0712¢FAX 985-9461 Financial Planning vest in a bookkeeping system that works for both you and your accountant. This ensures that you are able to obtain the information you need when you need it. 5.Local Bylaws A summary of Durham Re- gion's bylaws indicates that home occupations should not exceed 25 per cent of the floor area and that it should be secon- dary to the residence. You can ask for the Bylaws for Home Oc- cupations at your local munici- pality to determine what by- laws are in place for home occupations. 6. Home Business Deductions One of the advantages of hav- ing a home based business are the expenses that you are al- lowed to write off. You can cal- culate your deduction based on the percentage used on the over- all square footage. For example, if the space you are using for your business is one of 10 rooms, you can write off 1/10 of rent or mortgage interest, utili- ties and property tax. 7. Insurance If you are meeting clients or customers at your place of resi- dence, you should contact your insurance company to see whether or not your home insu- rance has business liability cov- erage. Turnto Page 15 have made great strides in the workplace. During the eighties, the percentage of wom- en who worked outside the home rose 75%, - up from 60% just 10 years earlier. At the same time, the number of women with a post-secondary education grew rapidly, as did their earning power - between 1985 and 1990, the number of women in Canada earn- ing more than $50,000 a year increased by an impressive 73%. Despite these advancements, many wom- en are still surprisingly tentative when it comes to making investment decisions. While most of their male colleagues are opt- ing for diversification into investments that offer much greater opportunity for signifi- cant long-term growth, women often choose instead to invest conservatively in savings accounts, fixed-interest GICs or Canada Savings Bonds. Studies show that many women are reluctant to invest in stocks or equities because they believe them to be "too risky." Other research indicates that although equities offer the greatest growth potential over the long term, many women continue to ignore the wide range of investment oppor- tunities available to them simply because they have little or no understanding of how mutual funds work or of how diversified investments, in carefully chosen mutual funds, can balance out the day-to-day vola- tility of the stock market. The reasons for this hesitancy are rooted, at least in part, in tradition and history. In the past, few women had money of their own to invest. And when they did have money to put aside for the future, they usually relied on men to invest it for them. A 1993 study by Angus Reid found that 26% of women who have RRSPs (and 18% of men, too) admit that they have no idea what investments are held in them, just as many also admit that they have little understand- ing of the significant tax advantages RRSPs provide. The study also found that 51% of woman who do have RRSPs hold GICs or term deposits in them, while only 22.5% hold mutual funds. By comparison, 35% of men with RRSPs invest in mutual funds. It is hardly surprising that women have shied away from making investment deci- sions they perceive to be risky. The irony is that women need the growth potential of equities. Historically, far more women than men have spent their later years in poverty, especially after divorce or the death of a spouse, jeopardizing both their dreams for the future and their financial security. Today, as more women are redefining their roles at home, in the workplace and in socie- ty, increasing numbers are also determined to take charge of their finances. In 1979, fewer than half a million women contributed about $700 million to RRSPs. A decade lat- er, more than 1.7 million women contributed $4.3 billion. Women are educating themselves about long-term investment strategies. They are recognizing the importance of having a financial advisor - someone who can offer sound advice and solid information about investment opportunities and products. And they are realizing that today, with house prices severely depressed, salary increases sharply curtailed and government pension plans under siege, saving wisely for the future has become crucial. Of equal importance, many women are acknowledging that their traditional reluc- tance to invest for growth may be the grea- test financial risk of all. Because, while con- servative fixed-return investments are cer- tainly safe, they rarely out-pace inflation, thereby providing little or no real growth for the future. Today, recognizing that the greatest finan- cial risk may be to take no risk at all, women are re-examining their attitudes towards savings and investments, and redefining their views of what constitutes acceptable risk. They are also realizing that the sooner they start investing wisely for the future, the better off they will be in retirement. a Bo Toll o Tac) Ke) 4 both worlds" Rudy Luukko is ineqiivgeal about Trimarl's long-term outperformance: "The Best of both Worlds, of course. is superior returns with below- average fluctuations. In ow 10-year review, the clear winner in that race was... Trimark Canadian Fund." TRIMARK FUND performance as of December 31, 1994 ATI 149 I YEAR 0 3 YEARS 169" 10 YEARS TRIMARK CANADIAN FUND performance as of December 31, 1994 3% 1 460) 4 [L603 J YEARS 1 YEAR J YEARS 5 YEARS 10'YEARS For more information on ATRIMARK Trimark's RSP Mutual Funds contact: MUTUAL FUNDS WE MANAGE. To OUTPERFORM. BOB GOW (905) 434-7156 * 1-800-267-1522 RICHARDSON GREENSHIELDS ; [omy 111 Simcoe Street North, Oshawa, Ontario L1H 7M9 All retwins, audited by Emst & Young, Chartered Accountants, are historical annual compounded total rates of return and reflect changes in unit value and distributions reinvested They do not take into account sales charges or administrative fees payable by unitholders which would have reduced returns Past performance docs not guarantee future vesults. Your unit value and investment return will fluctu- ate. Important information about any mutual fund is contained in its simplificd prospectus. Read your prospectus carefully before investing. You can obtain onc from the financial adviser listed above. Designed by Trimark Investment Management Ine ry -- ANI ------ A