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Section Two Business and Finance Canadian Tire plans to do its part to promote fire safety during Fire Prevention Week in Clarington. Local dealer Norm Kane (left) is seen above with Clarington Fire Chief Michael Creighton setting up a display of extinguishers and alarms to go on sale during Fire Prevention Week. Canadian Tire is also cooperating cooperating with the fire department in a new campaign aimed at ensuring the community's homes are adequately adequately protected by smoke alarms. Canadian Tire and Fire Dept. Work Together to Save Lives TsAe one '1 In an effort to reduce fire deaths, injuries and property loss, the Clarington Clarington Fire Department and Canadian Canadian Tire are working together to present "An Alarming Initiative." Through this program, local businesses, businesses, community groups, hospitals, hospitals, senior citizen homes and others will be able to purchase (through die Fire Department) Canadian Tire's Mastercraft Smoke Alarm with pause feature for only $10. "It's the first time fire departments departments have had a joint venture of this type with a major corporation," said Clarington Fire Prevention Officer Officer Randy Reinert. The partnership with Canadian Tire is aimed at promoting the installation installation of at least one smoke alarm on every level of the home and adjacent to all sleeping areas. The fire department also recommends recommends that smoke alarms be replaced replaced every 10 years. The Mastercraft Smoke Alarm is Underwriters' Laboratories of Canada Canada approved and will detect fires in their earliest stages. The 10-minute pause feature helps prevent nuisance alarms from cooking and other non-emergencies. This alarm also prevents the likelihood likelihood that the battery will be disconnected disconnected or removed. If the battery is removed, the cover will not close, serving as a constant reminder to the owner that the alarm is inoperative. The life-saving venture is the result result of a partnership between the Ontario Municipal Fire Prevention More Accolades for Durham's Economic Development Dept. Durham Region's Economic Development Development Department was one of the big winners at the Annual Conference Conference of the Economic Developers' ' Association of Canada (EDAC), held recently in Fredericton, New Brunswick. Brunswick. Continuing its tradition of scooping awards at similar provincial, provincial, national and international competitions, competitions, this time the Department received seven awards from ED AC. Of the total 226 entries in the 1994 Marketing Canada Awards competition, the Region received a "Best of Class", three firsts, a second and a third. In a separate competition the Royal Bank Good News/Positive Program Awards, Durham also received received a second place, from among 42 submissions. The popular program, Celebrate Durham 94 was the big winner with a Best of Class and a First in the Marketing Marketing Awards and a Second in the Goods Ncws/Positivc Program Awards. Two other firsts were awarded to the 1994-95 guide to Farm Fresh Produce in Durham Re gion and a set of glass coasters designed designed and produced by Reflecting 1 Your Image of Oshawa. The Department's Department's quarterly newsletter also re-, ceived a Second and its 1994 Business Business Directory a Third. The Region's Manager of Business Business Development Norm Leigh, who completed his term as EDAC President President in Fredericton, explained that while the awards were presented by EDAC, judging was done by six individuals individuals representing the advertising industry, business and manufacturing sectors, media, tourism and academe. While Commissioner of Economic Economic Development, Patrick Olive was understandably proud of his Department's Department's accomplishments at EDAC, he commented that "the true test of any of our marketing programs or literature literature is whether or not they attract the attention of potential investors and visitors, and thereby boost the local local economy. By this standard, our marketing efforts are working and our challenge now is to maintain the momentum." Officers' Association (OMFPOA) and the Canadian Tire Child Protection Protection Foundation for the Ontario Fire Marshal's Public Fire Safety Council. Council. From each smoke alarm sold, $1.66 will be used to support the Learn Not to Bum fire safety education education program in Ontario elementary schools. "Tragic fire deaths and losses can be prevented through a coordinated approach to fire safety education and we're pleased to be able to assist assist the Fire Department with this program," says Canadian Tire representative representative Brian Cunningham. He added: "Canadian Tire is already actively actively involved in fire prevention through our funding of the national "Learn Not to Bum program." Created in 1979, by the National Fire Protection Association and distributed distributed by Fire Prevention Canada, Learn Not to Bum teaches 22 fire and bum-prevention behaviours to elementary school children. The Canadian Tire Child Protection Protection Foundation is donating $800,000 plus marketing support over three years to Fire Prevention Canada for the in-school implementation implementation of the Learn Not to Bum program. program. Through the Canadian Tire Child Protection Foundation, Canadian Canadian Tire Corporation Limited and Canadian Tire associate dealers are providing funding to initiatives devoted devoted to the health, safety and welfare welfare of Canadian children. According to statistics from the Ontario fire Marshal's Office, in the first five months of 1994,60 people died in home fires in Ontario. Of the 50 homes involved in the fatal fires, 26 did not have smoke alarms and 6 had smoke alarms with the batteries removed. In seven of the fires, the status of the alarm could not be determined. determined. Only 11 of the 50 homes were equipped with "working" smoke alarms, although in some of these cases, it could not be determined determined if the alarm was activated. For more information, please contact contact your local Fire Department or Canadian Tire Associate store. The Canadian Statesman, Bowmanville, Wednesday, October 5,1994 13 Government Says Taunton Rd. Construction Creates 700 Jobs The $35-million Taunton Road construction created 700 full-year jobs and an important new link for local local travellers, Durham West MPP Jim Wiseman "Our government contributed $25 million towards this project - which is an excellent example of. a successful successful provincial-municipal partnership," partnership," Wiseman said, speaking on behalf behalf of Transportation Minister Gilles Pouliot. The province's share of the work was funded through its municipal road subsidy program. Durham covered covered the remaining $10 million. The new, nine-kilometre section of four-lane road stretches from Steeles Avenue to 1.5 kilometres east of Brock Road in Pickering. The project project included the W.A. Twelvetrees Bridge over West Duffins Creek Valley. Valley. Its innovative design and construction construction minimized disturbances in the valley - sections of the bridge were built first and then pushed onto their supports. "Taunton Road - the largest project project undertaken in Durham Region yet - will provide a safer and more efficient efficient route for this community," Wiseman said. "It will relieve traffic congestion and it will definitely strengthen the local economy." by Brian Costello WILL GOVERNMENT TAX RRSPs? The trial balloons have been launched. Will Ottawa change the rules and tax the money accumulating jnside our RRSPs (and pensions?) or make other negative changes to the rules we presently use? For years Registered Retirement Savings Plans have created confusion. The contribution numbers have gradually increased to this year's 18% of net income to a maximum of $13,500. Some people feel this is too rich, it's a special perk for the rich, it co'sts the government too much money. After all, you have to earn $75,000 to qualify for the full deduction. Many middle income taxpayers don't qualify, indeed can't afford a deduction like this. Is that the way Ottawa is thinking? They need to make moves to show their resolve to cut expenditures and reduce the deficit. By the way, that word expenditures is important. When you sit in the yearly budget lockups, the government officials always talk about expenditures. We may think of them as items we paid for but they consider the benefits of tax deductions as expenditures. For example, they think the RRSP program costs them about $5.5 billion. If we cut back on our budgets by cutting our spending I think we can expect them to think the same way. The most recent numbers show Ottawa has cut its spending (different from expenditures) by a minuscule .2%. Clearly, they aren't showing many signs of downsizing. If they really want to show the world that they are going to do something about the deficit they have to either slash the size of government, increase taxes or eliminate tax deductions. If they increase taxes we will stop spending and curtail the economic expansion they need to create more jobs to reduce social spending and produce higher tax revenues. So, the easy route is to eliminate some of the tax deductions we have been using and make some forms of income that are presently tax free taxable. Yes, the RRSP could be included in the next tax hit. What could they do? They could reduce the maximum $13,500 limit or reduce the 18% calculation. They could freeze the money inside the plan so that it could only be used to produce a pension as is the case in the United States. Or, as is rumoured, they could tax some of the present tax free earnings we accumulate inside our RRSPs. If they choose to tax the interest, dividends and capital gains we earn inside our RRSPs, it will reduce the value of putting money into these plans. I mean, if we are taxed at the same rate inside as we are outside then the only value to contributing to an RRSP is to get the initial tax relief. A move like this would send knowledgeable investors scurrying to other forms of tax relief like borrowing to buy investments where the interest is tax deductible or rental real estate or limited partnerships in the popular computer software, mutual fund and movie fields. As usual, middle income types would be hardest hit as they don't always have the income to justify the use of limited partnerships. Can it happen? Can Ottawa change the rules after all these years and tax RRSP accumulations? Well, Iguess the answer is always yes when it comes to governments. However, they would have a tough time justifying doing it retroactively. And, can you imagine the mathematical nightmare when it comes to calculating the tax liability. Will interest be taxed at a different rate than dividends or capital gains as is the case outside our plans? That would be a clear signal to some sectors of the financial planning industry that one type of investment is better than another inside our . RRSPs. I have no more information as to what they are going to do than anybody else. However, to see them float these trial balloons you know something is bound to happen. So, how do you combat it? Well, the first thing I would do is get the maximum contribution in right away. In all likelihood, changes will be made this fall in an economic statement or mini budget. So, get the maximum in before they change the rules. The next thing I'd do is catch up on any unused contributions from past years. There's some $100 billion worth of unused contributions sitting on the shelf. If we all used them the deficit would double. Surely, Ottawa will look at restricting this ticking time bomb. Then you want to look at the $8,000 lifetime over contribution limit. If you haven't used it, get it in now before it is cancelled or restricted. You don't get a tax deduction for this amount this year but you will get credit for having it in before the rules change. Remember, this might be a smokescreen. Regardless, the only a way to protect yourself is to act before the fact, not after it. ,