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

TENDERS THE CORPORTATION OF THE TOWN OF PENETANGUISHENE - PUBLIC WORKS DEPT. CONTRACT NO. P.W. 8402 Sealed Tenders, clearly marked as to content, will be received by the undersigned until 12 noon on 'Friday, Sept. 21, 1984; For the construction of Sanitary Sewers on Broad Street, from Fox Street to Church Street, and on Jury Drive, from Broad Street to 120 m North. (1) 222 m - 250 mm Sanitary Sewer (2) 412.5 m - 200 mm Sanitary Sewer Contract documents may be obtained from the Municipal Office, 10 Robert St. West,: Box 580, Penetanguishene, Ontario, LOK 1P0 and for fur- ther information contact Fred Linn, Public Works Superintendent at 24 Centennial Drive, (705) 549- 7992. Lowest or any tender not necessarily accepted. Cost of tender documents $25.00 Refundable upon return of the documents within seven days after awarding of contract. Y.A. Gagne, A.M.C.T. Clerk-Administrator, Municipal Office, 10 Robert St. W., Box 580 Penetanguishene, Ont. LOK 1P0 71 REAL ESTATE REAL ESTATE ROYAL TRUST Corporation of Canada, Realtor 357 Bayfield Street, Barrie (705)728-8800 Toronto Line (416)SS1-117" WASAGA BEACH, 2 cottages, 3 pce washroom in each. Rent out one, live in the other. $44,000. DISCOVER FARM LIVING 199 acres, barn, workshop, grainery, 2 im- | plement sheds plus 2500 sq. ft. modular home. $179,500. : Kingswood Acres Large building lot close to water access. $12,000. ; wil sen a as 25 ACRES Vacant lot conc. 3 Tiny Twp. Good access to both town and beach. $31,900. For more information Call Sharon Gray 728- 8800 or 361-1881. NEED RETAIL SPACE? PROFIT FROM OUR HIGH TRAFFIC LOCATION SIZE FLEXIBLE ASK FOR MAURICE TAYLOR BUSINESS COMPUTERS 285 Dunlop St. W. Barrie 726-4100 10% 2ND MORTGAGES Building Contractor will residential, comm. or ind. buildings. or use your present house as a down payment on a custom built home on your lot or ours. give 2nd mort. on Write Box 296 Elmvale, LOL 1P0 or 322-1121 69 Open House- Waverley, $2500 down. = 3 Sept. 9, Sunday 1:30-4:30 bedrooms, large living- p.m. Starter house plus room, kitchen and 3 lots. Needs septic. dining area, 10 x 10 Super buy at $44,900. shed. Quiet mobile Directions Hwy. 93 to yellow light County Rd. 27, to first street to sign. Agent, Lois Nesbitt, Emory-Miller Real Estate. 71 For sale (real estate) one acre lot. Scenic view, one mile from Thunder Bay beach. Ready to build on. Pho. n-e en 2787. W69,W71,W73' - home park, Wasaga Beach. Call 429-4911.70 , to 73 Country Home between Elmvale & Barrie available Oct. 1/84. 4 Bedrooms, 2 storey home. First & Last months rent required. For more information call 322-1030 between 5 and7p.m. 71 REAL ESTATE REAL ESTATE. | A. E. LEPAGE Mn REAL ESTATE SERVICES LTD * REALTOR The name friends recommend ORR LAKE - SCENIC : $92,000. 86acrefarm. Presently operating _No. 314. beef : Car! Davis. ORR L $32,000. Year round, cottage or home. Carl Davis. _ NO. 117 .... EAST OF MIDLAND ; $98,000. Year round, General Store, with living quarters. Carl Davis.NO. 68.. LOTS:AND ACREAGE $26,900. $9,900. $19,500. $18,000. $25,000. Rossel. 6.29 acres Medonte 1.8 acres Tiny Twsp. 300 x 250' Orr Lake. Bluewater Beach. 48 acres Elmvale. Carol NO. 427 Elmvale , Ont. 322-1381 Carl Davis 322-2962 Carol Rossel 322-2324 Harry Hunt 322-1998 Howard Heacock 322-1753 FOR RENT PANAMACITY | BEACH, FLORIDA Pier 99 (family Motor Inn) phones, cable TV, newspaper, _ shuffleb- oard, cardroom, heated pool. $325 / month. Dec.-Jan. 4 mon. min. Feb.-March. 904-234- 6657. For more _ in- formation call Frank FOR RENT MINDING If you are a parent, you probably worry about providing for your child's education. One obvious solution is to open some sort of savings account for the youngster and let it accumulate until he or she finishes high school. his is.-).0f scourse, perfectly feasible, but you should be aware of the tax liabilities on such an account. In general, income earned on any property, such as money, tran- sferred to a child under 18, is taxable to the person who made the gift. Once the child reaches 18, however, the income becomes taxable to the child. As most 18-year-olds have a low income, the tax would be correspon- dingly minimal. AUCTION SALES he/ ae) older family's of twin beds, dresser will, auctioneer. ARCHER C QUALIFIED AND RECOGNIZED | YOUR MONEY No savings in trusts Banks and_ other financial institutions offer "trust accounts" for minor children. This is' one way of "'ear- marking" a_ savings account for the child's education. However, income on these ac- counts is normally attributed for tax purposes to the person who opens the account-- most likely the parent-- rather than to the child. So you have no. tax savings here at all. It is possible to establish a trust for a child in which you loan, rather than give, the money to the trust. 'The income accumulates tax-free. However, such trusts can only be established with the assistance of a lawyer, and start-up and ad- AUCTION SALES OLWILL 726-8904 AUTHORITY Auctioneer ¢ Appraiser Farm e Furniture * Antiques Estates © Real Estate Selling Successful Sales Since 1957 Saturday, Sept. 8th, at 10 a.m. for the estate of Toots Ritchie at 101 Queen St. W. in Elmvale. Sale of complete household effects from one of the Elmvale. Furniture: 3 pcs. chesterfield, pr. of living room lamps, swag lamp, lazy boy chair, odd chairs, end tables & coffee table, T.V. tables, high chair, kitchen suite w. 6 chairs, Duncan Fyfe table, 2 sets of continental & mirror, pedestal table, pole lamp, magazine rack, picture frames, doll's rocker, parlour table, metal cup- board, portable colour T.V. on stand, tub stand. Appliances: 'Inglis washing machine 'auto', gas dryer, Moffat deep freezer, vacuum cleaner, elec- tric applicances, toaster oven. Glass, linen, silver, ete: set of 6 Sheffield bone handled butter knives, Carnaval glass, candy bowls, Ironstone dishes, Tuperware, Westbend pots & pans, oil lamps, crocks, linen, bedding étc., table cloths. Quantity of tools, 1979 Citation snowmobile. Terms cash or cheque w. identification day of sale. Archer Col- rocking chair, ministration fees may be high. In the past, frequently nted taxes by pur- chasing a Canada Savings Bond or a guaranteed investment certificate for a minor child with a maturing people circumve- date after the child's 18th birthday. That way, the child would benefit from the in- come, paying virtually no taxes in most cases. Laws have changed recently, and the in- come on these in- struments must be reported for tax pur- poses at least every three years. Nor- mally, the person giving the gift would be liable. If you live in Quebec, incidentally, you must take care not to run afoul of the gift tax laws in transferring property to children. You may have heard of Registered Educational Savings Plans (RESP) as one way to educate the child and get a tax break. These plans are available only through a limited number of RESP companies and brokers--banks don't handle them. Basically, they allow a person to contribute up to $25,000 on behalf of a child. The capital contribution is not deductible to the donor, but interest or capital gains accumulate in- terest-free within the plan. When the child begins post-secondary education, he or she can withdraw the ac- cumulated income from the plan for educational and living expenses. The capital goes back to the donor. 'The with- drawals are taxed to the child, that is, most likely at a very low rate. There are drawbacks However, there are some serious drawbacks. For one thing, if your 361-2146. 71 8 separate rooms September 8-18. Bring your own sleeping bag. Call 526-2333. 71,72 Barns or storage sheds for boat storage seasonal rent paid in advance, Wasaga Marine phone 429- 2100. 71 TF Room, & Board for a gentleman., Call 549- 8716. 70,71 Room or room and board for gentleman. Phone 526-7498. 71.72 4 bedroom house, fur- nished / unfurnished. Thunder Beach, Sep- tember to June, $400 per month plus _ utilities. Phone weekends 533- 3676. 70,71 1 bedroom apartment, immediate occupancy. Call 322-2494 before 5 p.m. 71 AUCTION SALES Auction Sale Wed., Sept. 12th at 3 p.m. sharp or LEN RAE, 74 Shore Lane at 14th St., Wasaga Beach. 'Sale of garden & han- fdyman's tools & equipment, _ Building, plumbing & electrical supplies, antique & modern housefurnis- hings, inc. appliances, 5 h.p. snowblowers, riding lawn mower, gas buzz saw, lawn mowers, jacuzzi pool, pump & filter, trailer, power tools, CB set» snowmobile, pumps & tanks, storm windows, chest freezer, fridge, wood stoves, household items, antiques, dressers, chests, trunks, chairs, tables & beds etc. ete. Terms Cash Lunch Auetioner - Pifher 1-705-445-4848. Auction Service Ltd. PH]: recalcitrant child decides not to continue education, earnings on all your contributions may be lost, although Bill Mcfadden you will get your capital : back. SATURDAY, SEPT. 8, 1984 If you notice early on 11 a.m. Sharp that the child benefiting 116 Yonge St. Elmvale '2 mile north of Elmvale § from the education fund traffic lights on west side. 'does not appear par- Antiques Furniture Appliances 'Tools ticularly studious, and Antiques: '"Domestic" treddle sewing you decide to switch the machine: dresser, mirror; rocker; chairs;§ fund to a more buffet; table; writing desk. promising offspring, you may find this is not possible. So, if you're casting about for a tax break on education savings, your «choices are quite limited. Some financial 'sacrifice is invariably involved. 'The Bank of Montreal |, offers free brochures on | money management. Appliances: fridge; stove. Furntiure: Chesterfield & chair (new); beds; vacuum cleaner; dishes; pots; pans. Tools: 'Table saw; garden tools; hammers; rakes; shovels; hedge clippers; axes; forks; plus many other items too numerous to list. . Terms: Cash or approved cheque with I.D. Food available. Ladies and Gentlemen; Mr. Mcfadden was a life time resident of Elmvale who served on town council, and a member of the Legion and Lion's for a good many years. Neither Auctioneer or Seller responsible fori] Write to Consumer accidents or lost items. 69to729 Education, Bank of 'Montreal, P.O. Box :(6002, Montreal, Que., | H2Y 388. DAVID H. MOORE a SEPT. 6 fh | Brownies, Guides, | Pathfinders, Beavers, _Cubs and Scouts can register for the coming / year on Sept. 6, between 7 p.m. and 8:30 p.m. in St. John's United : 5 2. (705) 487-2902 y Oro Station, Ontario LOL 2EO 71 Church. besa ' . ee