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By George Perdue, B. Se. P. Eng. "Taxes, I pay too much!". That is the cry I.hear most ly these days. Many people want to beat the tax man because they feel that taxes are spent carelessly without thought. Regardless, the fact is that both federal and provincial have spent us g' into a huge debt. The average Canadian now works into June each year just for the privilege of paying taxes. In order to pay the interest on their debt, governments have raised taxes, and they are looking for more. One way they have taken more is to close tax shelters. They are looking for creative ways to bring in more money with- out provoking tax payers who are already irate. To date the government has not taken away the last great tax deferral plan that they started some 30 years ago, namely registered retirement savings plans (RRSPs). So what is this RRSP? It is a savings plan that is encour- aged by tax savings incen- tives. Here is how it works. | Money. put into a registered (registered with the govern- ment) plan yields an immedi- ate tax break by decreasing taxable income in the amount of the contribution to the plan. This break is actu- ally a deferral - the govern- ment will eventually get theirs! The real benefit is that the growth of the invest- ment in the registered plan is not taxed while the money is kept in the plan. This means that money can grow at a far superior rate compared to any other government sanc- tioned method. Even the independently wealthy can take advantage of this major investment opportunity. Consider what an RRSP can do for you. If you invested $1000 per year for 30 years and earned a 10% return worth only $600 and a 10% return on investment is worth only 6%. What a dra- matic difference! Thank you government. George Perdue is a Financial Planner, Business Consultant, and Partner in Money Concepts, Halton Hills. He can be contact- ed at (416) 873-1877. compounded annually you would accumulate $150,000. If you had made the same investment outside the RRSP — and paid the taxes on the income, your accumulated investment would only total about $50,000 depending on your tax level. If you were in the 40% tax bracket a $1000 investment outside an RRSP would be Please Give to Your Local Food Bank 10TH LINE a EN Dave, Patty and Jackie ish all their friends and a Happy and Safe New Year. It has been a pleasure serving you this season. a & RIVER RD. ACROSS FROM GEORGETOWN GOLF 877-7939 gutters cleaned? call MITEE 873-9956 Halton or a Wo AN lige Community fe | Pa] © 89/63 242454 Television el i festeel 21 Main St. North ACTON 853-1270 Weekly Programme Schedule Rentals Landscaping ndat 5:30 < TV Storytime 5:30 Pentecostle Presence 6:00 Halton's Health (Coregiee Spec | gee 6:30 GDHS Rookie Wresti 6:30 ange on Life 7:00 eres oo - Commanky Calendar GEORGETOWN ‘ARMERS' Tue: 7:30 Sports Report 3 Rent-All LAWNCARE 5:30 ion 8:00 German Programming * Tools ¢ Equipment A 6:00 Optimist TV Bingo (live) Friday 334 Guelph & LANDSCAPING i i i 30 Milton Santa Claus Parade ae Hills Council — 99 -—_ Halton Region Council St. ~ Free Estimates ~ oO Mark Tewksbury atGDHS Check Schedule daily 877-0157 * CUTTING + FERTILIZING 6:00 Kern and Blair's Story *LANDSCAPING + TRIMMING 7:00 Ito niors! i ACTON “4 8:00 Halton Men's invitational edd eal poss =To anes eee 8 3-8806 Basketball Tournament (recently recorded programming) Clean-up T.V. Repairs Have you had your} | REPAIRS TO ALL MODELS OF TVs s VCRs Also Microwaves, Stereos rs Free Estimates on Carry-In TV Repairs 873-1820 J.J. Electronics 360 Guelph St., Unit 37, Georgetown Car Cleaning CHRISTMAS SPECIALS CAR CLEANING No Drip Oiling * Perma Shine *Scotch Guarding + Paint Touch-ups * Complete Painting & Body Work Available REASONABLE RATES 873-9695 Brian's Custom Car Cleaning ee CHRISTMAS SPECIALS # Interior Painting RECESSION RATE: Home Improvement "Halton's Only Errand Service" 873-8475 NM) HOUSE CLEANING e House & Pet Sitting ¢ Paintin, ie Home Repairs le Home Renovations