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Whitby Free Press Wednesday. August 25, 1993. Page il businss newsi 'Nice' move dloser to home Your Financial Health Derek Dutka but a littie slow during the sum- mer." «We're happy (with business) and the people seem quite ha ppy. » Located on Green Street, south of Dundas Street East, Nice Bis- tro bas a casual atmosphere. «We j~ust want people to be happy, says Lacreutz. "It's nice to run something small and operate on our own. Tius growtn xund i15 xuuy iqjui u urnes L. ror Wl ersturntisdoig ne toad and other needs. If the growth portfolio only grews at the samne retuati on o o bd rate as the GIC alternative -- the resuàt is 20 te 25 per cent s cea a evc9 more capital in 10 years -- ail courtesy of Revenue Canada. producing 35 to 40 per cent more after-tax income.(P V~ In siummary, the split annuity prevides guaranteed, tax-effective income and capital grewth and Iiquidity n one tex-effective packge -- it just may be the remedy for your interest rate 'ils.' Ithscue sfnertakyr4 b AREA CODE Resumés - Essays- Banners planner for a sample illustration. 41 BUSINESS CARDS Newsletters- Mailing Labels Caîl anytime - Weekdays, evenings, weekends Dentîsts'new technology 40à4 FROM PAGE 9 all the patients' positive feed- back, says Librach, "now it's aARACD drill," saysýLibrach. permanent fixture in our office.» BSNS nn~L lv he te The machine makes a patients visit much more comfortable as there is no heat, no vibration and ne noise lilce the old drill. «Another thing," says Librach, "there's ne (freezing) needle which is goed for ail t he 'needle- penci hg .on the situation, the machine may be faster or slower than the old teel but there is usually no piîn or enly slight sensitivity- which means t he «everal comfort level is greater,» exlained Làbrach. he two dentists had read about the KTC200 in articles from the U.S. and then wr gientecac e ein n tr itet. cet ton n "Wegained access te one te, try fer a couple of months,» and with KTC200 -machines in Ontario and the Whitby dentists are not aware of others in Canada. The new dental teel can also be used te seal a tooth te prevent cavities and cementing on braces. The only drawback te the machine is a slight sandy taste Ieft in the mouth after use. FAMULY GOLF COURSE 14 Holes -Par 3 Fun for the whole familyl RENTALS AVAILABLE 15 miles no rth of Whitby on Lakeridge Roâd. LFor more information, cati 655-3091 agho"use Mon- Fri10-8 Saturday 10- 6 S1501 Hopkns St., Whltby (416)430-8081 Fax 430-0795 PRINTER SPECIALS* Hewlett Packard 500 $399. Okdi d OL400E $699 . BACK-TO-SCHOOL SPEC lAIS 8 ALSO AVAILABLE By Kathryn McBurney Manon Lacroutz and husand Bernard Albergio recently opened a new restaurant in downtown Whitby. The 'Nice Bistro,' opened two înonths ago by Manon Lacroutz and husband Bernard Albergio in downtown Whitby offers mostly French and Italian cui- sine. Located where the Cafe Vienna formerly operated béfore closing, the NVice lunch menu includes salads, soups and daily spcals such as smoked salmon w'rith enion and capers, ranging in price from $5 to $8. The dinner menu, ranging in price from $7 to 11, iudes a variety of soups salads, fish, pastas and speiaity dishes such as veal rolled in ham and cheese in mushroom sauce, grilled rose- marry lamb chops, and filet of sole in lemon butter almond sauce. Lacreutz and Albergio have been involved in restaurants and the services industry for many years,. including ownership of Teronte's Capriccio restaurant, which had mostly Italian cuisine, for over three years. "I was brought up in the res- taurant business and in hotels, motels, etc.,» says Lacroutz. Albergio bas been in the res- taurant business for 20 years. Raisin g a family in Oshawa, the couple decided to move out ef the Toronto restaurant soene and instead work dloser to home, with a restaurant in the Oshawa/ Whitby area. Lacroutz feels that se far- the Another remredy for 10w interest rates Much bas recently been written on ways te combat the effect of low interest rates on the income of retired persens. At the risk of repeating the obvieus, a GIC portolio earning 12 per cent produced $12,000 per year of income, while at current rates of about 7 per cent, the annual inceme would only be $7,000. The 40 per cent drop in income bas had a tremendous effect en the lifestyles and plans ef persens using their flxed-income assets as income-producing vehicles. Strategies te combat this have ranged from diversif ing into a balanced portfolio of inceme and growth mutual funTs on one hand, ail the way tu insured annuities on the ether. WhIle the insured annuity provided higher tax-effective income, it appealed te more elderly retirees and was an irreversible decisien - stili, it werks extrenmely well for the right situation. Anether use ef annuities that is less permanent but stili highly tex-effective is the 'split annuity. This concept fully utilizes the inherent tax-favoured treatment of prescribed annuities, as well as capital gains and dividends. Its worlangs are relatively simple. Rather than reinvest in a GIC for income, you would instead eplit yeur investreent in twe parts -- one te produce income and one te grow. The inceme portion would be used for a Termn Certain Annuity (TCA) for, say, 10 years. The amount would be calculated te, generate the saine (er greater) income, after tax, as the GIO. Because TCAs are treated as prescribed annuities, the majerity of the income 18 treated as return of capital and is net taxed. The resuit is that the samie after-tax inceme as a GIC can be p roduced by a TCA for reughly only one-third of the capital. Ths lbaves roughly two-thirds of the capital to, invest for grewth ever a 10-year period. As much eof the growth would come frem capital gains and dividends, very little of the growth would be taxable (assuming capital gains exemption availability). I National Trust Whitby Branches Welcomes the Hon. Henry N.R. Jackman Lieutenant Governor of Ontario to Whitby His Honour wilI attend the Gala Premiere of Antiques at Trafalgar Castie on Thursday evening August 26th. I-is Honour is thie tenth Lieutenant Governor of Ontario to attend at Trafalgar Castie while in office. This event is presented by thc Alumnae Association of Trafalgar Castie School and continues on Friday, Saturday & Sunday. Alproceeds to preserve our heritage. PRIME COMMERCIAL SPACE FOR LEASE In downtown Port Perry approx. 3000 sq. ft. Air conditioned. Lots of private parking. Suitable for retail or restaurant development in the downtown core. Reasonable longterm lease available. Cali 436-3025 qL,ý qwwm"wv qm"WJ6,ý - -- - - - , a EE -.4a -Oý Àbý.- a en i M Z.T. M-67-1 Lll*lcl F FREE s ý2 Si. W., Whiitby - Li N 2L9 Phone: 668-0800 Fax: 668-1871 REE DELIVERY on orders over $30