The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

HALTONHIIXSOUtLOOK Saturday January IKa Halton Hills Outlook is published each Saturday by The Hilton Mill Herald borne newspaper division of Canadian Newspaper Company Limited Street Miliaria L7 Second Class Mall Registered Number Tbeir Outlook PUBLISHER Don ADVERTISING MANAGER Carl Sinke EDITOR Dave Rowney t IASHlr It oiler Flalne Kuiythyn STAFr Brian Marlrod Annie ASSISTANT Ry chard McKcown Liberals end sitting with Tory filibuster Twos a Crowd Queens Park Derek Nelson There Is something appropriate about having this autumn sitting of the first Liberal majority legislature in years peter out with a Conser lillbustcr It tan even with fireworks or Ihc sharp clean ml of closure to finish debate there is a mushy and not very coherent determination on the part of Liberals push ahead with their anil freetrade resolution In the face of a dogged Tory refusal lo let it pass until after committee hearings are held The result Is a soft kind of stand something not uncommon dur the days of Conservative governments is as though Ihe Liberals v ho put alt their drive and energy into two years of governing high intcn so Ihey could win a mojority ore now relaxing falling into standard pattern of majority government and minority tlon NOT COMF1 ACENT This Incidentally Is not the same thing as say tunc become complacent There is no evidence that they are doing any less than they ever did in terms of announcing various reforms and bringing forth new legislation True nothing much has passed this sitting but because the normal process flow like contributions and expenses Limits on spending and will be established The controversial police com Claims procedure that exists in tetro will be extended across the province Metro will be reorganised School board representation will be based on population rather than assessment and all will be segregated Into one of four categories Anglophone public or separate Francophone publn or This I all these so- called reforms ire worthwhile some it indicates the Liberals I dozing off as critics like Leidcr Bob Hue of course has his own pro blems In the face of widespread med a skepticism he nuts I insist thai avoiding decimation in the pro vinclal election was victor And however rational the case one can make along those lines it somehow I seem ring to many critics Oshawa MPP Mike far example has caused consternation In party establishment by saying bluntly it is time to re assess everything including the leader ship And frankly the NDP per In this silling has been jusl average Despite their Official Op position status haven I shown any great spark most of the time Much lo surprise probably Including their own it the Progressive Conservative who are the most lively this sitting Interim Leader Brandt been an effective questioner in the One only has to look at the an changes affecting local government to see Ihc Liberals haven t gone to sleep A form of permanent voters list will be created next spring using the revenue ministry and the malls There will be full disclosure and reporting of municipal election cam Twos a Crowd COULDNT YOU STOP WORRYING ABOUT THE EXPENSE- FOR AS YOU PROBABLY KNOW GLUE IS RAPIDLY THE SUTURE IN MODERN SURGERY Think about savings as tax year ends the questioning from the Ifrmcmber Tory caucus has varied it has been alive plentiful and often relevant And lhat why having end wilh a Tory filibuster against a government is somehow right Your Business DIANNEIALFV Analyst The 1987 taxation year is drawing to a close Once again many people will lei another year slip by without giving thought to things they can do to save taxes The new year will bring lax reform and a whole new set of rules It will also spell Ihe end of the deduction for Interest or other In vestment Income The loss of the deduction makes It more Important than ever to hold your Interest bearing in vestments In your registered retire ment savings plan Investments that are treated more kindly by the tax man such as stocks and real estate can be held outside your RR5P Yet many people do exactly the opposite They hold stocks or stock mutual funds in their But they have thousands of unsheltered dollars In Canada Savings Bonds or guaranteed Investment certificates RRSPTIME Speaking of don t wait till the last minute to make your contributions Why leave your money collecting taxable Interest In the bank when it could be earning In terest tax free in your If you a hard look at your options now you will also avoid the last minute rush A good thing to look at this year given all the Interest rate uncertain ly Is a money market mutual fund or least one that Invests in blend of short medium and long term interest bearing securities Merely sticking a bond fund could be risky if interest rise Some investments allow you to defer paying on Interest income David Lou tax adviser points out in the Dei 10 Hit Money Let tor example stripped bonds available from your stockbroker will lei you defer taxes for up to three years Stripped bonds are interest coupons that have been cut from the underlying bond and sold separate ly In relum or a lumMum pay menl you receive payments over a number of years SPLIT INCOME Income splitting allows you to distribute your tax burden among family members who earn less money than you do and thus have lower tax rates For example you can lend money to a child who Is at least age IS when the child invests the money the income will be tax able In his or her hands Children can use the income for education or other expenses Mr Louis points out Staff I Comment Another good thing to remember Is that If you deposit your family allowance cheque In separate bank account In your child s name In on the money can grow tax free until Ihc child s Income reaches the level where he has to pay Income las The accumulated savings can be used to help finance a child education On the subject of income splitting interest free loans to spouses or children outstanding before the May 1985 budget have to be repaid before the end of the current year to reap the benefits If you need more Information about these or other mailers call your local Revenue Canada office Better still ask tax accountant You may pay an accountant or lo plan and your tax return hut miy recover much or more in taxes you save BRIAN Any New Years resolutions an unsuspecting friend asked me the other day Never make em Never have Never will Humbug I barked in I know you re thinking It He gave up New Year resolu because he con t keep them you re saying Well you re right Actually you re only partially right The main reason up New Year resolutions Is because at tempting to keep them was more painful than breaking them Its not like I haven given it a And besides I bet I not alone Look around you All those slaving away at work doing whatever it is they do every day Bet they ve made some New Years resolutions eh Probably some whoppers too And how many of them have kepi them many of them still smoke How many of them still have that pot belly J See it not doing anyone any good to aggravate Iheir ulcer every January by making them attempt to stick to something they really don want to aspire to in the first place Well maybe Discipline says my friend is the key And he right After listening to his thesis on how a New Year resolution is simply of your own discipline 1 had give It a second thought Could it be true I thought Is possible no one really expects adhere to their New Year That its merely a self teal of your own dedication the cause So for the first lime since my university days when I promised myself Id have my essays In on lime Imgolngtoglveltacrack Anyone remember the old refrain offered ft you by your parents when you were a youngster and didn want to be pulled away from your favorite television show to go to bed Early to bed early to rise makes a man healthy wealthy and wise Nowadays It sounds pretty good huh Especially the wealthy port So now the pressure a on It a Day 1 That right Friday I count It was New Years I figure I ve got a better crack al Al least better than the time I pro mised to deprive myself of an extra hour sleep four times a week by running for two mites in the morn Actually only lost thai hour of sleep once You II know if my New Year resolution worked 1 II be the driving the Poets Corner A Itoveyou large and most all