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This Holiday, t a;vkug Mss NNING1TON GA TE, 6 OPEN HOUSE, SUN. 24 P. ...an acre at a time. 9 Am â€" 5 pmM EST World Wildlife Fund Canada The sole purpose of this article is to congratulate the RRSP programs are sound investments are pleased to announce the purchase of the practice of Eric Szustak, CA. With over 35 years of service to the local business community we look forward to serving your accounting, financing, bookkeeping, tax and computer needs. Numbers aren‘t all that count ... you and your business do too. We would be pleased to meet with you to discuss your business or personal financial needs. 700 Don)al Drive, Suite 500, Oakville, Ontario, L6J 5A2 Telephone (905) 845â€"6633 FAX (905) 845â€"6064 GLENN GRAYDON WRIGHT Chartered Accountants Federal government. Their handling of the RRSP program has CHARTERED ACCOUNTANTS been excellent. RRSP‘s started in 1957, and they have FRIDAY, NOVEMBER 26, 1993 PAGE 28 The first benefit is to each and every been â€" extremely effective in enc o uraging Canadians to save for retirement. Saving for retirement makes good economic sense. one of us. We are retiring earlier and living longer and, therefore, should build _ up _ our retirement nest eog. However, â€"the government benefits, too. If we can be selfâ€"sufficient during retirement, the government will not be asked to provide financial support. Our annual RRSP contribution limit is very generous. The upper limit was $7,500 for many The limit will increase by $1,000 per year until it reaches $15,500. Then the limit will be indexed to the average wage. These large years, but now it is a healthy $12,500. contribution limits will result in RRSP assets becoming a family‘s largest asset. Currently, the largest asset is your house. The foreign content limits have recently been improved. The old limit was 10% and most people ignored it. But the foreign content limit has been rising. This year, it is 18%; and in 1994, it will increase to 20%. Divessifying a RRSP outside the country . is â€" an excellent way to balance your investments. Investors are aware of the foreign investment privilege and are taking advantage of this option. The Notice of Assessment is sent to you after you file your income tax in April. The assessment includes a Registered Retirement Savings Plan Contribution Not only is the RRSP an extremely good plan, but the administration of the program is very efficient and business like. Your yearly contribution limit is calculated by the government â€" and appears on your Notice of Assessment. (See ‘RRSP‘ page 31)