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a 42 -- PORT PERRY STAR -- Tuesday, December 5, 1989 Grace Love returns from world tour Scugog lsland Area News by Mrs. Earl Reader p We welcomed Mrs. Grace Love back to her home on Thursday after a very eventful 4 week world tour. But we are sorry to learn she is now in Port Perry Hospital with pneumonia. Mrs. Theresa Wood has an in- teresting time ahead of her as she has 6 children this week. Her own 9-8-5 years and 3 visiting Lynde Vandals A house under construction on Greensborough Drive in Blackstock was the target of vandals, according to Regional Police. * . Entry into the house was made through a rear door, and about $200 damage was done as vandals carved initials in the walls and burned holes in the vi- nyl flooring. The incident was reported to Police late last week. children 9-7-5 years. The Gt. grandfather of the Lynde children owned the aged antique house that was restored and removed to the property of the Cullen Gardens. So, naturally these children are especially interested in the past. Therefore, it was very appropriate for Theresa to take all 6 children on Sunday, to the Scugog museum for the children's Christmas Craft session when 13 children were present. Don't forget the museum will be open till Dec. 22 for visits specializing in Canadian Christmas traditions. Phone for information. Last week it was a pleasure to get a Christmas call from Mrs. Alva Thompson as they are preparing for their second Christmas in Richmond Hill. It has been a trying year due to Clare's illness. But he is doing well and will soon not need a walker. At the Island United Church, ~ PPC PPP POPP PPO PP POOP I S838888888888288248488288820020002084¢00040200040044882 ¢ This article courtesy Standard Trust - Port Perry Branch 'SIDESTEPPING TAX ON YOUR + :INTEREST INCOME Commencing in 1988, many Canadians were shocked to discover that their savings and chequing account interest is now taxable. An overlook- ed mesaure in the tax reform package eliminated the investment income deduction, which before 1988 provided a tax exemption for the first $1,000 of Canadian interest and dividends you éarned. Now all your interest income is taxable, including that earned on GICs and term deposits, Canada Savings Bonds (CSBs), T-Bills and other. cor- porate or Government bonds, and even mortgage interest that you receive. The tax impact could be severe - perhaps up to $800 extra tax payable for some married couples if each spouse earns $1,000 of interest. How can you sidestep this newest tax grab? You might consider try- ing to earn capital gains that are exempt from tax under your $100,000 lifetime capital gains exemption. However, there is a great deal of risk associated with buying capital properties, whether they be stocks, mutual funds or real estate. So this strategy will appeal only to relatively experienced investors." . SN SSSSRESRCKRRAEE RRASPs Come To The Rescue Making extra contributions to an RRSP should be more to your liking. This of course assumes that you are not contributing up to the maximum you are allowed in 1989 (20 percerit of income to a maximum of $7,500, or to a maximum of $3,500 if you belong to a pension plan). Income earn- ed inside an RRSP is not subject to tax. Only when you eventually withdraw the funds from the RRSP does tax become payable. And don't forget that RRSP contributions are tax deductible. If you contribute your pre-tax income to an RRSP, you can escape tax entirely on the income earned on your net investment. For example, say you earn $1,000 and would normally pay $400 tax (40 percent of $1 ,000), leaving you with $600. Instead of contributing $600 to the RRSP (your net investment), you would contribute the full $1,000. Even though you hang on to the RRSP for 40 years, all the interest income earned on the $600 portion of your contribution is never taxed. If you invest that $600 in a Canada Savings Bond outside an RRSP, the interest will be taxed each year. PAYING OFF DEBT YOUR BEST INVESTMENT it's difficult to convince people that paying off debt is one of the best investments they can make, even if they have to sell their other investments to do it. For example, say that you have $2,000 outstanding on your credit card and you are paying interest at 20 percent, for a total of $400 interest paid in the year. You also have a $2,000 CSB paying you interest at 9 per- cent. Should you hold on to the bond, or cash it and pay off your credit card debt? aE en At the end of a year, you will earn $180 interest on the CBS. However, must pay tax on the interest at the rate of, say, 40 percent. This amounts to $72 Intax, leaving you with only $108, which puts just a small dent in your credit card interest. In fact, you still must come up with another $328 in interest ($400 minus $72) if you want to keep using your credit card, . Ifyou cash in the CBSs and use the funds to pay off your $2,000 debt, that $328 will still be in your pocket at the end of the year. Simply by réar- ranging your finances, you have earned $328. And this type of 'investing is completely risk-free and tax-free. : \ ~The same principle applies if you pay off any kind of debt on which the Interest is not deductible for tax purposes. Generally, you must borrow for investment of business purposes for Interest to be deductible. * Getting debt under control should be at the top of everyone's list of financial . Counting up the dollars in your CSBs or GICs may give you a feeling of security, but if debt is draining away all this income and a lot more, you may really be performing a high wire act without a net OOOO IOOOO ORION Ooh \K White Gifts are being accepted Sunday Dec. 10. After the service there will be an indoor picnic with Pot-Luck Finger Food. Then at 1 p.m. there will be Carolling as a Church Family with visitations. This year the Island United will be responsible for 2 small families for Christmas. Therefore, dona- tions of food, gifts or money for the Christmas baskets will be ap- preciated by Dec. 17. The "Head" U.C.W. and friends will be responsible for the .Hospital Tuck Shop the week of December 18. Please choose your most appropriate tite. This coming Friday at the Com- munity Hospital starting at 12 noon, the Women's Auxiliary will hold a bake sale and sale of reduc- ed items from the Tuck Shop. ~ Come and buy or donations will be appreciated. MISSION OF THE GOOD SHEPHERD Member Church of the Worldwide Continuing Traditional Anglican Church. SERVICES IN THE SCUGOG MEMORIAL CHAPEL, PORT PERRY Sunday, December 10th 10:15 AM - Morning Prayer 10:15 AM - Holy Communion (Prayer Book Services). Inftn. 985-3952 E PORT PERRY ddl PRINCE ALBERT - UNITED CHURCH Rev. D. Robert J. LePage, B.A., M. Div. Rev. Donald E. Tansley B.A. M. Div. Associate Minister SUNDAY, DECEMBER 10 10:00 a.m. Port Perry Morning Worship. - & Church School 11:30 a.m. Prince Albert Morning Worship & Church School UNITED CHURCH OF CANADA Rev. Lynn Belfry-Graham Scugog Island 9:45 a.m. Manchester 11:15 a.m. _ Worship & Sunday School UNITED CHURCH OF CANADA Rev. Dale Davis Blackstock - 10:00 a.m. North Nestleton - 11:15 a.m. Church School & Nursery During Worship GREENBANK PASTORAL CHARGE SERVICES Rev. David Shepherd, Minister 9:30 a.m. Seagrave 11:00 a.m. Greenbank 12:30 p.m. Pinedale EMMANUAL PENTECOSTAL CHURCH Regional Rd. 8 at Simcoe Port Perry, Ontario Rev. David Beesley, Pastor 985-4441 SUNDAY, DECEMBER 10 9:45 a.m. - Christian Education 11:00 a.m. Morning Worship "The Music Makers © (Psalm 98) Special Music: Hiram Joseph 6:30 p.m, Praise Service: Message: "Beware! Something New Is In The Air!" Special Music: Nursery Care & Children's Church Provided in Both Services Tues. 9:15 - 11:15 a.m. Ladies Reflections Bible Study Wed. 7:00 - 8:30 p.m. Family Night; Toddlers; . Pioneer Club; Adult Bible Study ' And Youth "A Church Reaching Out in Love" Nursery Care Always Available Vv! s PORT PERRY BAPTIST CHURCH Hwy. 7A & Island Road East of Port Perry © 985-8681 Pastor: Rev. David S. Daniels Sunday Services: Bible School 9:45 a.m. Worship 11:00 a.m. & 6:30 p.m. -: Junior Church & Nursery Provided Tuesday, 9:30 a.m. Ladies Coffee Hour Exercises & Bible Study Childrens Classes 0-5 yrs. Wednesday 7:00 - 8:30 p.m. AWANA Boys & Girls Club Jr. & Sr. Youths Programs Adult Bible Study & Prayer A Special Welcome To The Handicapped HOPE CHURCH A Christian Reformed Fellowship 166 Simcoe Street South, Prince Albert, Ontario Rev. Bart Van Eyk, B.A., M.Div., Pastor 985-9679 Song Service: 9:50 a.m. Worship Service 10:00 a.m. Coffee and Fellowship 11:15 a.m. Worship Service: 7:00 p.m. Sunday School & " Nursery Provided Ladies Coffee Break & Children's Story Hour Thursdays 9:30 a.m. Nursery Provided Youth Groups Boys 8-14; Wednesdays 7 p.m. Girls 8-14; Mondays 7 p.m. High School - Alternate Sundays 8:30 p.m. : All Are Welcome! COMMUNITY CHURCH " CAESAREA Rev. Dr. W.H. Crawford This Sunday 11:00 a.m. Sunshine Club Each Tuesday 4 -5 p.m. Thursday, Study Group - 8:00 p.m. Everyone Welcome Telephone: 986-5526 _To better serve the people of Port Perry and Area HOGAN'S HEARING AID CENTRES are expanding hours of service to MONDAY & WEDNESDAY 9 AM to 5 PM (both days) beginning Monday, Nov. 20th, 1989 DENNIS J. HOGAN 230 QUEEN STREET, 985-4422 ANGLICAN CHURCH The Rev'd Charles E. Bull Incumbent St. John's Church St., Blackstock SUNDAY, DECEMBER 10 9:30 a.m. Holy Communion - New Rite Church School & Nursery Church of the Ascension 274 North St., Port Perry SUNDAY, DECEMBER 10 8:00 a.m. Said Eucharist © 11:15 a.m. Morning Prayer & Church School El NESTLETON PRESBYTERIAN CHURCH Worship Service - 11:00 a.m. Sunday School Provided Everyone is Welcome! - BAHA'I FAITH For information about Baha'i 'meetings & activities please write P.O. Box 1153, Port Perry, Ontario, LOB 1NO or Call 985-9339 y i THE PRESBYTERIAN © 'CHURCH IN CANADA™ Rev. Stuart McEntyre, B.A., B.D. Office: 985-3881 -- Home: 985-3409 2ND SUNDAY IN-ADVENT "DECEMBER 10 ST. JOHN'S - PORT PERRY 9:55 a.m. Family Worship & Church School Mr. McEntyre's Topic: "Beginning Again With Our Prayers" Nursery Care Provided BURNS PRESBYTERIAN COMMUNITY CHURCH ASHBURN 10:00 a.m. Church School 11:15 a.m. Family Worship Mr. McEntyre's Topic: "Beginning Again With Our Prayers" Sound Evangelical Biblical Theology ST. BERNADETTE'S CATHOLIC PARISH SUNDAY MASS 11:30 a.m. Nestleton Community Hall Nestleton Serving Cartwright Township Come On Home Father Tom Lynch 705-932-2712 EMMANUEL FULL GOSPEL FELLOWSHIP Durham Road 23 and 7th Conc. Reverend Timothy Godfrey, Pastor 'Church: 852-7054 Residence: 852-5871 SUNDAY, DECEMBER 10 ' 9:45 a.m. - Family Bible School 11:00 a.m. - Worship Services 6:00 p.m. - Praise Meeting Tuesday - 9:30 a.m. Ladies Fellowship Wednesday - 7:30 p.m, Prayer & Bible Study Saturday - 7:00 p.m, Youth Group