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When the Ontario government came out with its budget a Use of tax ‘shelters‘ only delays the inevitable Tell Your Landlord To Go #@!+*%! few weeks ago, I was optimistic. Premier Rae had â€"been bject to change without notice. E8OE. Brokers welcome. *flmm hwhmasurflso #*inchides dll‘discoufts and incortive, Monday to Thursday 1 pm â€" 8 pm; Friday 12 pm â€" 6pm; Saturday, Sunday Holidays 11 am â€" 6 pm arguing economic restraint. His "social (416) 945â€"2114 Sold Exclusively by Brethour Real Estate Corporation NIAGARA ESCARPMENT contract" â€" efforts were aimed _ at reducing government SPECIAL MORTGAGE FINANCING FOR THE FIRST 40 HOME BUYERS _ »**» LET US SHOW YOU HOW TO OWN YOUR FIRST HOME ‘.i FOR LESS THAN YOU‘RE PAYING RENT! a m# expenditures. This was logical â€" in fact, the vast majority of us were cag awaiting corrective action. were eagerly erly We have all this watched various businesses downsize A tax shelter is generally not a true shelter. It is just a tax deferral. You might reduce your taxes one year, but if you ever make any money on your tax shelter â€" you will have to pay taxes in the future. If you have a high income, then you are a potential candidate for a tax shelter. Please be cautious and consider the facts. individuals to purchase tax shelters? I hope not. Tax shelters were a significant part of investing during the 1980‘s. Probably 90% of â€" those investors now wish they had just paid the taxes. The ageâ€"old theory was not to buy a tax shelter unless it made economic sense. But in reality, tax shelters often do not make economic â€" sense without the tax advantage. Your long term investment objective should _ be _ to accumulate wealth to support your lifestyle during retirement. Don‘t be deflected by a short term tax shelter. This is not to say that you cannot reduce your taxes. Sound â€" financial planning does include tax planning. But then we got the shock of the year. Despite the preâ€" budget rhetoric, the NDP government did virtually nothing to control spending, but attempted to solve the shortfall with a tax grab. My concern in this column is not about the budget â€" it‘s about you. Will the higher taxes Don‘t ‘use this recent tax increase as a reason for you to make a poor tax shelter investment. Peter Watson, MBA, CFP, RFP is the president of Peter Watson Investments Limited â€"â€" an Oakville firm specializing in retirement planning, RRSPs, and investment planning.~ He® can. be reached at 842â€"7602. to survive. Nobody likes the huge layoffs that occur, but many realize it is either downsizing or going out of business entirely.