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The Clarington/Courticc Independent, Bowmanvillc, Saturday, January 31, 1998 Page 3 *)*ttLefie*tclertt *76e (^(umtece *)*ulefce*tcCe*tt Produced weekly by James Publishing Company Limited P.O. Box 190,62 King St. W., Bowmanvillc, Ontario L1C 3K9 P.O. Box 2000,1712 Baseline West, Courtice, Ontario L1C 2S8 ^X. 905-623-3303 Fax: 905-623-6161 Office Hours: Monday to Friday 9:00 a.m. until 5:00 p.m. Internet - statesman@ocna.org For 144 Years, Our First Concern Has Been Our Community Publisher - John M. James Plant Manager - Rick Patterson Ad. Manager - Brian G. Purdy Production Assoc. Publisher - Rick James Editor - Peter Parrott Supervisor - Ralph Rozema, Suzanne Bennett, Tim Bowers, Kevin Britton, Sharon Cole, Laurens Kaldeway, Barb Patterson, Tyler Sellick, Jim Snoek, James Stephenson, Vance Sutherland, Jim Tuuramo Advertising Editorial Laverne Morrison, Wanda Partrick Brad Kelly, Lorraine Manfredo, Laura J. Richafds Office Supervisor-Angela Luscher.Junia Hodge, Grace McGregor, Nancy Pleasance-Sturman, Marilyn Rutherford, Libby Smithson Report from Queen's Park by John O'Toole • Amazing Generosity • I extend my gratitude and thanks to all those individuals individuals and groups including including businesses who helped out in the recent ice storm in Eastern Ontario and Quebec. The generosity of people never fails, to amaze me. Just when we think that the situation is bleak, people come to the rescue. Police, lire, emergency personnel, municipalities, individuals and companies are ready to help each other. I was amazed that one local school collected over $700.00 to direct to the Red Cross. The response has been wonderful. Once again, if people leave it to government, government, they somehow feel that someone else will take care of all the problems. Certainly, government has a role but each one of us must internalize the responsibili ty for one another. In my opinion, individuals helping other people in a time of need docs more for good relations between provinces than all the politicians could ever do. ■ Charity does not end by giving at the office. Each one of us can reach out and experience the reward of helping others. After all, we are our brothers' keeper. Now that the Ontario legislature is not in session, I am dividing my time between Queen's Park and meeting people in my constituency. constituency. Last week at Queen's Park, caucus met with the Minister of Education to review a draft of the new student focused funding model. I also met with Ann Vanstonc and David Cooke of the Education Improvement Commission (EIC) to review the ' distribution of Dollar$ & Sense with Deborah Kohlsmith Financial Consultant SPOUSAL RRSP? Many clients ask me about the benefits of contributing to a Spousal RRSP. Some scenarios include: a client with a good pension and the other spouse earns a smaller salary and does not have a pension plan; or two spouses who arc both employed, however one spouse earns significantly more income than the other spouse. It is important to balance out your investments (with your overall income) so you pay less taxes to Revenue Canada upon retirement. A Spousal RRSP is usually set up by the spouse earning a higher income and is registered in the other spouse's name. Contributions to a Spousal RRSP are considered to be made by the contributor and thus deducted from that person's RRSP contribution room for that given tax year. Technically, the money held within the RRSP belongs to the spouse whose name it is registered in. If any of the money held within the Spousal RRSP is withdrawn within the first 3 years, the tax liability falls on the contributor - which means you (the contributor) would pay taxes on the amount withdrawn. After a 3 year period the contributor is no longer responsible for taxes on any amount withdrawn (the Spousal RRSP at this time solely belongs to the registered owner). The advantage of having a Spousal RRSP is it allows you to split your income during your retirement, therefore each spouse pays tax in a lower bracket - equaling income and tax. Appropriate planning during your peak earning years can eventually save you money during your retirement years. If you have any further questions regarding this important and complex issue, or any other topics contact me. REGAL CAPITAL PLANNERS LTD. ▲TRIMARK' MUTUAL FUNDS U> lUru/r. 7» Outperform. ©J.P. 24 King St. £., Bowmanville, Ont. L1C 1N2 (905) 623-1936 or 1-800-668-9626 assets between the new District Boards of Education and the old Boards of Education. The new French District Boards will assume some of the assets and liabilities of the old boards. This may prove to be a big issue in some areas. The Red Tape Commission met to review the proposed new regulation for, "You Brew" businesses, I might add that I have consulted consulted locally on this issue. In my constituency, I met with the local Business Improvement Area groups (BIA's). The changes to business tax will require the Minister of Municipal Affairs and Housing to remain flexible during this transition due to Bill 106. I also met with the Durham Health Care Alliance to gather their concerns concerns with health care issues. I am forwarding their concerns of growth in Durham and the importance of proper funding for Durham Access to Care or community services and home care. I also met with members of the Newcastle Rate Payers Association. They requested that I inquire into a couple of issues, including the condition of Highway 401 from the 35/115 Highway to Oshawa. I was also pleased to attend the founding meeting of the new Claringlon Board of Trade. In summary, any individual individual or group that wishes to meet and convey their message, message, please call me at (905) 697-1501, or L/D 1-800- 661-2433.1 am at your service. service. The Minister of Environment, the Hon. Norm Sterling, announced the Ontario Smog Plan last week. The plan calls for a 75% reduction by 2015 in the number of times the ozone criteria is exceeded. In 1997, Minister Sterling announced the Drive Clean plan. This vehicle emission testing will start in March 1998 for vehicles over three years old. The effects of smog on human health is well recognized. If you want further information on these plans, please call my office or the Ministry of the Environment at 1-800-565- 4923 or e-mail www.ene.gov.on.ca In conclusion, I wish to share with you a basic concept concept that I believe is fundamental fundamental to understanding our government. You cannot give people hope, they must find it in themselves. You can provide the right circumstance circumstance and opportunities opportunities for people to be hopeful but the individual must still decide to be hopeful. WINTER CLEARING All Winter Stock 50% OFF Blazers (Reg. priced up to $750) NOW $90 Slacks and Skirts (Reg. priced up to $250) NOW $50 65 Albert St., Oshawa 436-1653 Sun, and Mon. - closed, Tues - Fri. 10 - 6, Sat. 10 - 5 eJ . P , Going Dov/n It was smooth sailing last Sunday at the Bowmanvillc Senior Public schoolyard. These thrill-seekers teamed up on a toboggan for a fun- filled ride down a snowy slope. School Board Hosts Career Conference Once again this year English-Language Public District School Board No. 14 hosted the Changing Times; Changing Lives Conference on Thursday, January 29th from 9:45 a.m. to 2:00 p.m. at Cobourg District Collegiate Institute East. The conference was an opportunity for 400 grade 8 students students to discover careers that they may not have considered and to link their choice of careers with their interests, skills, knowledge and abilities as opposed to gender. The importance of career planning and setting career goals was highlighted as the students arc provided with the opportunity to talk with people who are currently working in a variety of fields and to learn from their experiences. Ruth Braganca, Employment Equity Officer for the board, says the conference is a successful partnership with private industries, small businesses and public sector organizations. organizations. Parliamentary Report by Alex Shepherd Bank Show Arrogance • Executive arrogance, and a managerial group out of control, is what last week's merger announcement by the Royal Bank and Bank of Montreal conveyed to the public. While bank mergers were discussed in the halls of Parliament, as well as Bay Street, it was determined the government would review the matter and report its findings in September. Why? Because government government is interested in what the benefits and costs will be to Canadians. I've been intently tracking the hearings and there arc a number of problems with mergers that have not even been addressed yet, such as personal privacy, access and tied selling bank charges. Tied selling, simply put, occurs when you go into a bank seeking a loan and they tell you that there is a better chance of getting the loan if you had, say, insurance with the institution. But executive arrogance seems to be what's most pervasive. pervasive. It's the attitude, "we know best and this is the way it is and is going to be." For example, the banks argue merger is necessary in order to compete globally and play with the big boys. And also to allow them to invest in banking technology (which is really a concept to get more money out of you without you knowing it). But does bigger make for better? There isn't a strong empirical argument to support support that claim. Still Matthew Barrett, the CEO of the Bank of Montreal, will say merger is necessary because, to use his example, he doesn't want to be the local hardware store owner when the likes of Home Depot or Walmart come to town. Ironically, Canada's smallest bank, the Toronto Dominion has been the most innovative and committed to the use of technology to provide provide customers with electronic electronic banking and brokerage services. services. This gives you a clue to their attitude toward lending to small business, the very businesses in communities like ours that create jobs. As the banks begin their $20 million ad campaign to, "improve their image", we know all the glitzy ads in the world aren't going to erase our memory of their arrogant behavior. I'm not talking about those of you who work for banks here in Durham. It's your jobs that arc on the line in all this. And that goes right to the local management level, Remember, banks arc a figment of the imagination, something created by legisla tion. That legislation should make them work in the interests interests of all Canadians. The arrogance of a public announcement for merger before a proper review is clear evidence banks are out of control. 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