The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

16 - PORT PERRY STAR - Tuesday, February 8,1994 "Scugog"s Community Newspaper of Choice" Put more strategy into your RRSP Every year, many Canadians fail to take advantage of their RRSPs simply because they can't find the cash to contribute. The result is that they may lose an opportunity to build tax- deferred savings for the future. There are several ways to en- sure that you make your RRSP contribution every year. Improving RRSP Performance Borrowing to make your RRSP contribution can make good sense. To illustrate, let's say that the March 1 contribu- tion deadline is just a few weeks away, and you're entitled to con- tribute $3,000 to your RRSP. But you find that you've only got about $2,000 in cash. Should you borrow the extra $1,000? Sometimes it can be to your benefit to borrow to make your RRSP contribution. In fact, by doing so you could save for your retirement and have a tax de- duction against current income. Over time, the interest earned on your RRSP contribution could outweigh the interest on your RRSP loan. Many financial institutions have RRSP loan programs where you can borrow at prime. And often, approval for an RRSP loan is instant -- you just need to apply. Even more convenient is the flexible repayment schedules most institutions offer to those borrowing to make an RRSP contribution. By choosing a 90- day deferral on your first repay- ment you can use the proceeds from your tax refund to pay down your loan -- sometimes you can even pay off your RRSP loan in just one payment. Continuous Contributions Borrowing your RRSP contri- bution can make sense if you're caught short of cash at the last "minute. But why wait till the last minute to make next year's contribution. An easier way to contribute to your RRSP is through regular, smaller amounts throughout immediate tax advantage. fund in Canada. Canadian Fund about every other RRSP in Canada. ( Working Ventures Canadian Fund gives vou a 40% headstart over just about every other The Power Of Working Ventures Now, you can take advantage of a unique investment fund - Working Ventures Canadian Fund - that could permit you to reduce this year's taxes by $4500! That's 40%" more than the tax benefit of just hile mutual funds are generally designed to reward investors in the long run. there's an investment f$hd that gives you an Save an extra % 1n taxes on your RRSP contribution this year Investment Objective Working Ventures objective is to produce the superior retums traditionally associated with investment in dynamic and growing businesses. while minimizing risk through prudent development and management of the fund. Private equity investing involves certain risks that are not encountered with many other investments. Although Working Ventures provides you with a tax credit to help offset those risks. it cannot guarantee that its investments will eam a specified rate of retum. or any retum. in the short or long term. In addition. a private equity investment involves a longer term commitment. Poised For Growth You receive $2,000 in tax credits* by investing S5.000 in Working Ventures Canadian Fund. The fact that Working Ventures shares are saves strong. diversified investment portfolio. Here's an example: Investment in Working Ventures 55.000 Tax Savings - 52,500 - RRSP tax deduction (at S070 assumed tax rate) Federal Tax Credit (S200) -ST.O000 Provincial Tax Credit® (200 where applicable) - STOO Your Net Cost $500 Your Total Tax Savings $4,500 also eligible for an RRSP means further tax breaks. For instance. if you are in a S070 marginal tax bracket, a $5.000 contribution to an RRSP would reduce vour taxes by a further $2,500. for a total of $4,500 (S2.000 + $2,500) in tax Your investment will primarily be reinvested in promising, growth- oriented small and medium size businesses in your province. Experience That Counts Key to the performance of the fund is the expertise and experience of its management team headed by Ron Begg, President. His track record of success combines senior corporate management disciplines with the hands-on company-building skills of a successful entrepreneur. This complements well the investment and finance background of Jim Hall, Vice-President Investments, Jim has solid professional credentials from public accounting and merchant banking, and a record of originating and managing successful investments. Jim offers a prudent, disciplined and seasoned approach to the development of a Discover How Working Ventures Can Work For You take advantage of investments in under-valued businesses and positioned to profit as the economy tums around. securities. Ponce Edward Iskind And. while a majority of the fund's assets will be invested in enterprising businesses to maximize return potential, risk is tempered by investing a significant portion of assets in short-term, high quality government The information contained herein is not complete. Prospective investors are advised to refer to the Working Ventures" prospectus for complete details of the offering. Class A shares of Working Ventures are offered for sale solely under the tenms of a prospectus accepted for filing in all Canadian provinces and temitonies. Copies of the prospectus nay be obtained only from persons duly qualified and Tieensed to distribute these securities. "The extra provincial tax credits are available to mvestons resident mn Saskatchewan, Ontano and Working, Ventures ss subject to certain intenm mvestiment restrictions which ane described in the amendment to Working Ventures" prospectus Due to the current economic environment, Working Ventures is in an ideal situation. prepared to For more information, call: (905) 434-7156 + 1-800-267-1522 RICHARDSON GREENSHIELDS Investment advisors to Canadian enterprise and enterprising Canadians 111 Simcoe Street North, Oshawa, Ontario LLIH 7M9 BOB GOW WORKING VENTURES CANADIAN FUND INC. the year. Some financial institutions can even arrange to have regu- lar contributions deducted au- tomatically from your account. And, you can usually choose when and how often you want to contribute to your RRSP. In fact, if your payroll is directly deposited to your bank account, your contributions can be timed to coincide with your payroll so you don't have to worry about putting money into your ac- count for your RRSP. But convenience is only one reason for setting up a continu- ous contribution (or purchase) plan. A more important benefit is that you'll get a head start on accumulating savings in your RRSP. The Most Important Strategy Of All These are just a few of the strategies "that you can use which may help to reduce your taxes while you generate more savings for your retirement. How you choose to contribute to your RRSP is up to you. The most important thing is to do the best you can now. A small amount put away today can make a big difference in the fu- ture. Courtesy of : Al Knight, Branch Manager, Bank of Montreal, Port Perry ddA. "--_ =, Calculate your taxes with Canon & Sharp ADDING from $39.95 & up Available at The Port Perry Star OFFICE CENTRE 188 Mary Street, Port Perry 985-7383 or 985-3708 (fax) be ----