Loading...
The Goderich Signal-Star, 2009-01-07, Page 14page Al2 - Goderich Signai-Star, Wednesday, January 7, 2009 Rock of Gibraltar a breath -taking part of any European tour were excavated by men with nothing more than sledge- hammers, crowbars and gun- powder. Walking through The Great Siege Tunnels is eerie and amazing—large parts of The Rock of Gibraltar are no longer there, slowly and laboriously carved away by workers who walled city grew on the west- ,r% r • almost suffocated from blasting ern side of the Rock. r arks -NI n14, fumes. Spanish forces took 14 1.44"'e t -A -'-e) Large iron rings are embed - Gibraltar from the Moors in ded along the steep roadway 1462, on behalf of the King of. leading to the upper Rock. Castile. It was then- taken by the Duke of Excavation tools, cannons, shot, and supplies Medina Sidonia in 1466, and reclaimed by were hauled upward via a system of ropes Spain in 1501 under the rule of Queen through these rings. Isabella. Within many of the embrasures, British During the War of Spanish Succession, agencies charged with the care of The Rock 1702-13, the Rock of Gibraltar became a have installed historical plaques and lifelike pawn in the struggle between two rivals for period -dress mannequins positioned as they the Spanish throne: the Frenchman Philip of were during the defensd of Gibraltar. Anjou (Philip V) and the Austrian Archduke Further extensive excavation took place dur- Charles (Charles Dil). ing World War II in other areas. Today, there However as the war neared its end, are over 30 miles of road inside The Rock. England began to attach significant impor- The City Under Siege Exhibition, again tance to Gibraltar. Under the Treaty of with lifelike displays and historical plaques, Utrecht, which ended the conflict, Gibraltar illustrates the appalling conditions under which passed to the Crown of Great Britain 'for- people lived during the siege. ever'. The remains of an ancient fortress called the Spain unsuccessfully laid siege to Gibraltar Moorish Castle, last rebuilt in 1333, dominate in 1727 and again in 17.79. The hugely the only land entrance to Gibraltar. • destructive Great Siege of 1779 lasted for Europa Point, the Mosque, the Shrine of our nearly four years and led to the development Lady of Europa, the Alameda Gardens and of 'The Great Siege Tunnels' excavated by many other interesting sites within the Gibraltar the British Army—a defense system like no community all contribute to an amazing expe- other inside an impenetrable natural fort. rience on the southernmost point of the . 600 feet of tunnels and gun embrasures European continent. TSC always open for blackouts No visit to the Costa del Sol would be visitors. AD led to the mva,von of complete without a trip to the Rock of Many prehistoric relics have been found Gibraltar by the Vandals and Gibraltar. .in the Rock's caves, including the first the Goths, peoples from the This mountain in the sea retains remnants Neanderthal -type skull. Phoenicians and east. From 711 for over six of its Spanish history amidst its English way Carthaginians landed but did not settle centuries, with a break from of life. there. 1309 to 1333, Gibraltar was *Standing at one of the world's strategic Then came a Roman occupation. The under Moorish occupation. crossroads, Gibraltar has always attracted decline of the Roman Empire around 400 , Although fortifications existed, no town was built until 1160, when a snail Canadian who has reached the age of majority in his or her province can invest to $5,000 per year in a TFSA. Your account can hold investments such as stocks, bonds and mutual funds, to name a few. Any growth on your investment is tax-free. What's more, any withdrawal you want to make is tax-free too. • This makes the TFSA different from the federal government's long-established Registered Retirement Savings Plan (RRSP) program. For example, when you make an RRSP contribution, your taxable income for that year is lowered by the amount you contributed to your RRSP. It means you will pay less income tax that year compared to what you would have paid had you not made the RRSP contribution. However, when you take that money out of your RRSP at a future date, the amount : becomes taxable at that time. In other words, it's like using "pre-tax" funds when you put money into your RRSP. That's just the opposite of what happens with the TFSA, where you're using "after- tax" funds. You might think of it as putting into the account a portion of your income that's already had all its tax deducted. A common question being asked is whether the TFSA should take precedence ever the RRSP as a vehicle for housing retirement savings. From a tax -advantage standpoint,* a key consideration involves tax rates at contribution and at withdrawal. If the two rates are identical, the TFSA and the RRSP are equally effective alternatives for saving on tax. If the tax rate at the time of withdrawal will be lower than at the time of contribution, the RRSP comes out ahead. If the tax rate at the time of withdrawal will be higher than at the time of contribution, the advantage goes to the TFSA. Because most Canadians can expect to experience a lower tax rate during their retirement compared to when they are working, the RRSP is probably the preferred savings option for the majority of us. Of course, we all have different circumstances that shape our investment decisions, and there are many other factors to consider, including some additional differences between the RRSP and TFSA. Of note: • There are maximum age restrictions for contributing to the RRSP, while there is not for the TFSA. • You can re -use contribution room after funds are, withdrawn from the TFSA in subsequent years. You cannot do that with that with the RRSP. • RRSP contribution maximums per year are generally larger than the $5,000 • amount for the TFSA. For the 2008 tax year, your RRSP contribution can be. as high as $20,000, or 18 per cent of your earned income, as reported on your 2007 tax return (whichever is less). • Unlike the RRSP, income earned in or withdrawals made from a TFSA do not affect your eligibility for federal tax credits orincome-tested benefits such as the Canada Child Tax Benefit, Old Age Security (OAS) or the Guaranteed Income Supplement (GIS). Given all of the different considerations - and the uniqueness of your particular situation - speak with your financial advisor to determine what RRSP and TFSA strategies make the most sense for you. Edward Jones, Member ClPF • * Edward Jones does not provide tax or legal advice. Review your specific situation with your tax adviser and/or legal professional for .ular iinformation regarding, or issues thetax imPliMao mak' a "1 c ,• , nvestment br taking an ,,•. • . -1/2" • < - DnS signal -star staff In a recent article, Goderich without pow- er due to flooding, the Signal -Star reported that Goderich's Canadian Tire was the only store open during a blackout experienced by local residents. This was incorrect as TSC, on Highway 21, was open. • Blake Hewitt, manager of the store, said this is always the case, as the store operates during blackouts. "Company policy is to stay open during outages," Hewitt explained. "We will escort customers one at a time with flashlights to what they need, hana-write our own bills, it's what we do." The store, which was open their normal 10 a.m. until 5 p.m. on Sunday, December 28, :the date of the blackout, almost sold out of generators, moving 30 of them. Hewitt said the store also sold everything to do with power outtages in great numbers as well; flashlights, lamps and lanterns, ker- osene -powered heating and lighting, exten- sion chords and power inverters. "We also sold a lot of portable power and [submersible pumps] combinations thanks to the rain and the thaw," he said. Hewitt explained that they were nearly out of generators, but should have more in soon. He explained the difference in genera- tor models they offer, since consumers may be looking at purchasing one after being without powers for more than a half day. . "We have both portable generators and stand-by generators, and as for what is bet- ter, it really depends on what the customer requires," he explained. If a customer is looking to keep their entire house up and running, a standby model is theway to go. It will run off natural gas or. propane, and the source is always there." • Hewitt explained portable generators work well for individuals who just need to run certain elements of their house, or can stand to switch out appliances as they need to be powered. "With portable generators, there is some worry about having fuel, as gas stations in. this area can rarely operate without power, but a full tank can keep an average portable generator running for five to six hours. They can also be wired into an electrical panel by an electrician so you don't have to unplug anything and plug it in elsewhere," Hewitt said. Regardless of which model consumers choose to go with, Hewitt wanted that, when shopping for a generator, you need to pay at- tention to the wattage. "The important thing to remember is what is the running wattage. A lot of compa- nies will list the surge watts of a generator, ' or how much a generator can provide on a short-term basis, like when a motor is start- ing on an appliance. The running wattage is the constant output, and that should be your primary concern." Hewitt explained that portable genera- • tors are also far less expensive, starting - . $500. Stand-by generators can run upwards of $3,000 to $4,000, with additional instal- lation, but do provide the extra protection needed for extended blackouts.