The Goderich Signal-Star, 1985-10-23, Page 31iisC
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PHONES
Bus. 524-7379
Res. 524-6210
Direct Parts 524-7389
BLUEWATER TRUCK CENTRE LTD.
GODERICH, ONTARIO
WE SPECIALIZE IN TRUCKS
CARLYLE BANNISTER
AIRPORT ROAD
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UNCOAST MALL
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Caderithi Ont.
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Open Daily 1 Q a n to 5 pin
Telephone; 524-'2337
Mayor Eileen Palmer did the honors at the ribbon -cutting ceremony at Hi -Way Ford's
grand opening on Saturday. Looking on are Brian Hoy, owner and Ford dignitaries, Frank
Dyck, president and Gary Cunningham, regional manager of Great Lakes region. (photo by
Susan Hundert mark
Now is the time to combat
taxes Costello warns
CLINTON - "The combination of taxation
and inflation is killingus.
That was the word of warning given by
Brian Costello to an audience of more than
700 who gathered here to hear financial
words of wisdom from the country's leading
authority.
Costello is Canada's best-known financial
consultant. He is heard on more than 180
radio stations and on television. He is known
for his financial columns, his books and his
audio cassette on tax returns. He has writ-
ten for numerous publications, including
MacLean's magazine and The Financial
Post. g
His visit to Clinton was sponsored by ABC
Investments of Goderich and his seminar
here focussed on ways that average income
earners can avoid paying higher taxes.
Costello pointed out that 52 per cent of the
average Canadian's income goes to govern-
ment taxes. That means that in each year, a
person works from January until summer to
pay taxes. In a day, a person works from
morning until noon to pay taxes.
He warned that the tax burden will be in-
creased by January 1986 when the federal
government announces a new budget.
However, he said that steps can be taken
now to safeguard against greater taxes.
Costello's view on money is a simple one.
"The mint makes it first. It's up to you to
make it last."
He advised that taxpayers must change
their way of thinking to make their money
work better and last longer. The key, he
said, is to go beyond savings programs that
are designed to earn interest by switching to
programs that earn dividends, capital gains
and offer tax rebates. Capital gains are
almost tax-free because of the new dividend
tax credit.
Costello advised that now is the time to
combat future tax increases. He suggested
three measures: going after the highest
possible yield. through stock investments
and term deposits, for instance: searching
out programs that offer tax relief when
money is invested: and programs that offer
tax relief when money is withdrawn.
Term deposits, stocks, mutual funds and
real estate were among the examples that
Costello offered as potential tax savings pro-
grams. He also stressed that the Registered
Retirement Savirws Plan 1 RRSP, is one of
Three issues
of bonds
due this fall
If you've been a buyer of Canada Savings
Bonds for some tune, it may be worth your
while to check your safety deposit box,
Three Canada Savings Bond issues are
coming due this year, altogether worth
more than $3,3 billion in principal.
The issues are Series 28 I issued in 1973 i,
Series 31 1 issued in 19761 and Series 33
1 issued in 19781 which all mature on Nov. 1,
1985. if you hold any of these bonds, you
should note that they will riot earn any fur-
ther interest after Nov 1.
Two of the issues Series 28 and Series 31
also mark the end of an era as the last of
the "old style" bonds
Both these issues also pay cash bonuses,
worth $482.70 for ever~ $1,000 bond of Series
28 and $356.90 for every $1,000 bond Of Series
31.
Series 28 has two additional features to
watch for:
An interim ca,h bonus worth $205 for
every $1,000 hood, which you can still claim
as long as the upper left hand corner of the
bond certificate has not been removed.
Compound interest certificates, which in-
creases the value of the bond considerably
as long as certain blocks of interest coupons
remain intact.
Series 33 is the first of the "new style"
Regular and Compound interest Bonds to
mature. In the case of Compound interest
Bonds, each $1,000 bond of this series is
worth $2,305.86 on Nov. 1.
With new ('SRs on sale for only a brief
period, this is a good time to check your
other bonds to see if any of these have
matured. By Nov. 1, all bonds issued before
1977 (Series 1 to 31) plus bonds issued in 1978
( Series 331 will have matured and will no
longer earn interest.
the best ways to save taxes and invest
money.
Y
Costello advised that people should not
look on,A RRSPs simply as a retirement pro-
gram, but as a short term investment vehi-
cle.
"It's got nothing to do with retirement, it's
got to do with tax rebate."
He advised young people to look at RRSP
programs now, not in later years.
"A 35 year old who puts $5,500 into the
plan will get a tax rebate of $2,000. By year
end there will be at least $6,000 in the plan
with interest. If you take that $6,000 out, you
still get the $2,000 gift. It's tax deductible."
"This is a money machine," Costello
stressed, "Leave your money in and it
steadily increases in value."
How to get money out of RRSP - to:: free is
highlighted in Costello's newest book, Your
Money and How To Keep It.
His newest financial guide will be in book
stores this month.
He suggests that investors can make more
money through self-directed, self-
administered RRSPs, ahead of leaving
money in a fixed rate plan with a financial
institution.
"It's nothing magical," he told his Clinton
audience. "It's simple using the system and
lots of people are doing it."
Costello's new financial guide was the
feature of his Clinton seminar. It is also the
focus of a cross -Canada tour he is making
from Halifax to Vancouver.
Your Money and How To Keep It gives ad-
vice on year-end tax planning, choosing a
financial consultant, budgeting, credit card
use and shopping for a loan. It also looks at
tax deductible mortgages, saving for
children's education, retirement in-
vestments and life insurance.
Costello has a simple solution for the
Canadian economy. He suggests, "If
everyone was spending money we'd have a
flourishing economy. If we had a flourishing
economy we wouldn't have unemployment,
therefore we wouldn't need government, but
we'll never have that because the govern-
ment would lose their jobs."
A more realistic solution, Costello sug-
gests, is for Canadians to change their finan-
cial planning measures. Most consumers,
he says, are poor investors. With a new
federal budget in the offing, Costello urges
Canadians to look at new avenues of saving
to protect against greater tax deductions.
FINANCIAL MARKET TRENDS
BANK RATE
PRIME
T BILLS
CDN DOLLAR
US DOL LAR
GOLD (CDN)
SHORT TERM
8 78%
10 25%
8 55%
7313
$1 3675
$444 78
8 750%
1 Yr. 3 Yr. 5 Yr.
GIC's 9 T/4
RRSP's 9.3'R
MORTGAGES 10
10 '/4 1 1 1/4
10 1/4 11 i'8
11 14 11 3/4
MUTUALS 37 60021 90026 800
Canada Savings Bonds 8 1/2%
FINANCIAL HINT
CANADA SAVINGS BONDS
Canada Savings Bonds will go on
sale October 23 with a first year
interest rate of 81/2% and a guaran'
teed minimum of 61/2% for each year
to maturity last year they paid
11'/4%
Series S28. S31. S33 mature Nov 1
and will not earn interest after that
date
Compiled by ABC INVESTMENTS
53 West St . Goderich
r45
YOUR FAST AND HANDY
REFERENCE FOR BUSINESS AND
PROFESSIONAL SERVICES! 4
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CLINTON, ONT.
NOM 1L0
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THREE PHASE ELECTRIC
1-800-265-9255
BARRY BUCHANAN -' ASK FOR KIRBY DELLE
3078 1266
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YOUR COMPLETE DECORATING CENTRE
wall coverings • paints • stains
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Suncoast Mall
397 Bayfield Rd.
Goderich, Ontario
SUNWORTHY
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Proprietor: Don Larder
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524-2232 40
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GODERICH ENERGY SEAL
AND INSULATION
Complete Insulation of attics, basements, wells
1 lreplacement windows
1 lventilatlon of attic
1 humidity problems solved
'Sealing & removal of UFFI
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(OVERNMENT GRANT) C
AVAILABLE FREE ESTIMATES
37 KINGSTON ST., GODERICH
524-2311 out-of-town call collect°
•
W. L. BUTLER
CHARTERED ACCOUNTANT
Trustee in Bankruptcy
Farm Financial Statements
OFFICES
60 East St., Goderich 524-8658
35 Lambton Crt., Kincardine
5 Ontario St., Clinton
(at H&R Block)
ERIC MOTOR
PROBLEMS...we can help:
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*REWINDING FAN BLADE
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235.1319
Huron St. E., Exeter
MOBILE WASH 1
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for your hard to get at
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GARDINER'S
MOBILE WASH -IT
16. Goderich 524-6031 J
McKILLOP
MUTUAL
INSURANCE
COMPANY
91 Main St. South, Seaforth
FARM, HOME,
COMMERCIAL,
AUTO COVERAGES
AGEN'T'S
E. F. " Bill" Durst
Bob McNaughton
Graeme Craig
Banter & MacEwan
insurance Brokers Ltd.
527-1955
527-1571
887-9381
524-8376
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Spicer MacGillivray
=�lOi CHARTERED ACCOUNTANTS
RONALD E. TAKALO, C.A.
14�v RESIDENT PARTNER
A Canadian name with international credentials
P.O. Box 187.40 The Square, Goderich, Ontario N7A 3Z2'
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'ARDINER'S MOVERS
Locally Owned And Operated
L.ICLEAN MODERN EQUIPMENT []EXPERIENCED PERSONNEL
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1-1 FREE ESTIMATES 11 REASONABLE RATES
1 1 EXPERT ADVICE
kr For Moving Anything LARGE OR SMALL 524-2421
5 �(15n
rFRED LAWRENCE
Electrical
Contractor
HOME, FARM, AND
COMMERCIAL
WIRING
PHONE AUBURN
L 526-7505
MORRIS
DRAPERIES
Your One Stop
Interior
Decorating Service
Centre
Custom Drapery
Kinch Track and
Installation Available
Draco Window Shades
Wallpaper & C.I.L. Paints
Harding Carpets
36 West St. Goderich
524-2551
,•��i�Cu„>£.?.+Fir.•a4.`.a:`J,�.,?'i:.ys:�.,'�en:n�"�.e
Ronald L.
McDonald
CHARTERED ACCOUNTANT
L....._
47 CHURCH ST.. 524-6253
Goderich, Ontario 4
R.W. BELL
OPTOMETRIST
The Square 524-7661
D.B. Palmer
Doctor of Chiropractic
73 Montreal St. Goderich
524-4555
Queen St. Blyth
523-9321
NEWS
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PHONE THE
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AND LET EVERYONE
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Gz��3
4554)
COMFORT ZONE INSULATION LTD.
CLINTON BOX 1067
482-3812
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LET US KEEP YOU IN THE
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Also spray painting of most everything
482-3563
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vtAgrot
PHIL MAIN
524-9671
4,
( 'Wholesale Cable & Fittings
Swimming Pool Chemicals
Fire Extinguishers Sales
& Service
Window -Glass -Screening
Repairs
Fishing. Hunting Licences
Small Appliance Repairs
The Old Fashioned
Hardware Store
4