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Bigger tax break _________________ makes RRSPs Iii , r better investment -.0-F* Canadian taxpayers are getting a break in at least one direction this New Year -- on their Registered Retirement Savings Plans (RRSPs). Described by financial planners as "the most generous 19921 tax incentive i the world," foilov RRSPs permit Canadians to (1) P defer incarne tax on the money (2)A they invest, up to allowable (3) H maximums. (4) IV In tie case of people who (5)R are not ini a company pension()c plan, the ceiing for RRSP(iF contributions made up to (ii) F February 29, 1992 is $11,500, (iii) F or 18% of eamed incarne --(i)F whichever is less. P 'Me sum invested can bc DISC( deducted from 1991 earned (i) F, income before icomer tax is N calculated. The resuit is a (i) F, smaller tax bill or, for those who pay tax via payroll deduction, a larger refun4. RRSPs can bc purchased through mutual fund or Dateo investment companies, bank, stock brokers, insurance companies or registered sales representatives. Wayne Walker, Vice- President, Marketing of Investors Group mnc., Canada's biggest mutual'fund company, says Canadians put more than $11 billion ino mutual funds i 1990. The amount is expected to be even greater for 1991. "The average contributor wil find that their tax saving will represent anywhere between one-quarter and one-haif of the amount they're investing," Mr. Walker says. This year's maximum of $11,500 wil be increased l>y $1,000 each year until 1995, when the maximum will be $15,500. Last year, the limit was $7,500. Revenue Canada has been mailing out notices to taxpayers who are enrolled i company pension plans, advising them of the allowable contribution they can make in a personal RRS1>. Most Canadians entrust their RRSPs te an established financia] institution, such as Invecstors Group; Mr. Walker says, ahthough self-administered plans are permissible. His comipany offers a variety of mutual funds which qualify as RRSP vehicles. A growing number of Canadians -- at least one ini fivc taxpayers -- invests i RRSPs as a retirement supplement to company or govcrnment pension plans. "The addition of an RRSP to cxisting pensions can ensure onc of being in a very comnfortable financial position at retirement time," says Mr. Walkcr. "But those dependent On government pension alone will be in difficuit straits,'! he predicts. "Evert now, government pension~ levels harely match the poverty line, and who knows how much thcy-'ll be worth in Uic future." While many taxpayers wil 1)u making RRSP investnients in Janluary and February so as lo make the deadline for a (Continueci page 13) PUBLIC NOTICE TO UTS CITIZENS DOG LICENSES 1992 2Dog Licences are now on sale and may be purchased at the ving locations: M1unicipal Administrative Centre, 40 Temperance Street, 3owmanville, Ontario Animal Contrai Centre, Liberty St. S., Bowmanville, Ontario H-ope's Variety, Newcastle, Ontario Ministry of Transportation, 157 King Street, Bowmanville, Ontario Rolph's Hardware, Main Street, Orono, Ontario~ Courtice Pet Clinic, 1500 Highway 2, Courtice, Ontario EDULE 0F FEES: For the first and seconrid dog $20.00 each For the third dog $30.00 each For the fourth and each addîtional dog $50.00 each For a spayed or neutered ciog, upon presentation cf veterinarian certif icate of spaying or neutering $1 0.00 each COUNTS: For each licence purchases on or before MAarch 1, 1992 $2.00 For proof cf rabies innoculation at time of icense purchase $2.00 By-law Enforcemnent Division ~0idsffePlanning & Development Department of Publication: Wed., Jan. 22/92 P.O. 3155 Chili-Topped Baked Potatoes 6, Baking Potatoes 11lb. lean ground beef 1 cup cjiopped onion 1 clave garlic, niinced 1 pkg. chili seasoning mix 1 eau (19 oz.) stewed tonmate 1 can (14ýoz.) red klidney beans Shredded cheddar cheese Prick potatoes with fork. Bake in 350 degree aven 1 hour or until done. Meanwhile, in large saucepan combine ground beef, enieu and garlie. Cook and stir over medium-high heat until meat and vegetables are caoked. Acld chili seasoning mix, tematoes andI kidney beans to pan. Bring mixture ta bail. Reduce heat and simmer, unlcovered, 15 to 20 minutes, stir occasionally. Spoon chili over hot, split baked potatoes and top with sbredded chxeddar cheese. Serves 6. 4% SEEDS F.ERTILIZERS HMCL CEREAL GRAINS LIQUItD FERTILZERSCHM AL QATS BULK ýHERBICIDES BARLEY mArrCn4 Klr t( e£ WHEAT MIXED GRAIN CORN SOYABEAN WHITE BEAN CANOLA FUNGICIDES ORCHARD SPRAY INSECTICIDES., CUSTOM APPLICATION ; 0*FORONON c n - flD w w w % a"" Durham Farmers' County Co-operative Hwy. 115 & Taunton Road, Orono 1-416-983-9134 or 1-800-263-7805 DMAUUL! ZJKgl 'UU Mje CUSTOM BLENDS SPREADER RENTALS CUSTOM APPLICATIONS IMPREGNATION K_ _ _E WE HAVE TH E PRODUOT. WE HAVE THE EQUIPM ENTE WE HAVE THE KNOWLEDGE. WE WANT TO SERVE YOU. Ask for Our Crop Specialist - Mark Loushîn EVERYONE WELCOME AT THE CO-OP -STORE à6ý ý 1