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"Scugog"s Community Newspaper of Choice" Van Camp & Kellar Chartered Accountants Income Tax Planning and Return Preparation. Personal tax returns Electronically Filed. (T-4's, T-5's) Preparer of Government Returns and Retirement Planning. 204 Casimir St. Port Perry Telephone: (905) 985-9725 Toll Free: 1-800-215-3852 Compare these retums with your GIC. since I year 3 year 5 year FE Inception ; ; Yel loyear | So Looking for a secure investment? A GIC fills the bill. Looking for preservation of capital and superior returns? Historically, GICs have come up short. For more than 15 years, Mackenzie's Industrial Income Fund has been the choice of return and safety conscious investors. As advisors, we believe the Industrial Income Fund portfolio -- combining government and corporate bonds and selected equities - is a timeless investment solution. For more information on this and other income- building investment opportunities from Mackenzie, please call us today at the number below. Building Financial Independence ROBERT J. GOW I'll Simcoe St. N. Oshawa, Ontario LIH 7M9 Phone: (905) 434-7156 | | J | I | RICHARDSON 1-800-267-1522 GREENSHIELDS [ J Important information about this offering is contained in the Fund s simplified prospectus. Obtain a copy from us and read it carefully before investing. Unlike GICs, mutual Jund investments are not guaranteed. The indicated rates of return to December 31, [995 are the historical annual compounded total returns, includin changes in unit value and reinvestment of all distributions, and A not take into account sales, redemption or optional charges payable by an investor which would have reduced returns. Past performance is not necessarily indicative of future returns. Check out tax rules for residency Spend time in the States? If so, you could be deemed to be a U.S. resi- dent for tax purposes. To determine if you could be considered a U.S. resi- Calculate the number of days you would spend in the United States in the current year and the pre- ceding two calendar years. Substantial Presence Test Number of days in the U.S. in the current year Plus 1/3 x Number of days in the U.S. in the preced- ing year Plus 1/6 x Num- ber of days in the U.S. in the second preceding year Equals Number of days for substantial presence test. Ifthe number is Greater than 183 days And you 985-9803 will be in the United States for more than 30 days in the current year...then you Will Be Considered a U.S. Resi- dent For Tax Purposes in the current year. You will be required to file a U.S. Income Tax return and will be subject to U.S. tax- ation on your worldwide income. Or, to put it another way, if you habitually spend more than four months or 122 days each year in the United States, you will normally be con- sidered a U.S. resident. For example: If you 'go south' each year from the beginning of December to the end of March, your substantial presence test You can trust H & R Block. [§ ® Experienced tax preparers. @ All kinds of income tax returns prepared, from the simple to the complex ® Express File and Cash Back available. Open Year Round for Service 174 Perry St., Port Perry H:R BLOCK he kt. THE INCOME TAX SPECIALISTS would look like this: January - 31 days; Feb- ruary - 28 days; March - 31 days; December - 31 days; Total - 121 days. 121 days Plus 1/3 x 121 days = 40.33 days Plus 1/6 x 121 days = 20.17 days. Total - 181 days. In this example, you would be just under the re- quired number of 183 days and would still qualify as a Canadian resident. Are there any alterna- tives -- other than cutting short your time down south???? 1. Claim the "closer con- nection exception" permit- ted under the Internal Revenue Code of the Unit- ed States. If 'you have ties to an- other country, i.e. Canada, such as: * permanent residence * family and personal - belongings * normal banking facili- ties * participation in relig- lous or social organiza- tions - you can claim the "clos- er connection exception" by filing Form 8840 with the Internal Revenue Ser- Turnto Page 13 27\ od = = {re STelplo NM adole] (oTele] oA FE ToT- 0 Letter ® Ledger ¢ Legal O70] [e18]¢=Te IF-Ta To I Flourescent Designs a STON 07:14) [oF 1 LW 2 {eYVE [2 matching Envelopes 88 MARY ST. - 1 ORT PE XEN +, KS RRY - (905) 985-7383 ------ ERR