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economist suntribune february 20 1985 re5 heres how to reduce the tax bill 3 if youre an investor remember the old adage a penny saved is a penny earned jyhen preparing your portfolios yearend tax review there are many ways to reduce he tax liability on your investments and when you use your options to save money youre achieving the goal of all investors an increased rate of return generally speaking the first 1000 of canadian investment income you earn is itsx free this amount is reduced by any interest expense incurred to earn it tax savings can be achieved by arranging your investments to make full use of this deduc tion for instance if you will not be receiv- ing a full 1000 of investment income you ishould look for ways of increasing the amount you can recognize these include cashing eligible coupons that are due or selling canadian securities to realize capital gains taxgain selling is beneficial in that there are no restrictions on buying back the securities however inherent sell- ing costs such as brokerage fees must be weighed against the tax benefits on the other hand if you do expect to use ithe entire 1000 deduction you may be looking for ways to reduce your personal investment income in this case taxloss celling or the planned disposition of a security in order to recognize a capital jloss may be to your advantage however unlike taxgain selling there are resric- tions you have to take into account you cannot recognize a loss on a sale if you your spouse or your company repurchases the identical property 30 days before or af ter the taxloss sale an increasingly popular way of reducing investment income is through income splitting under the canadian income tax structure the more you earn the higher your tax rate income splitting is a method of spreading family income amongst two or more family members to save taxes not only by allowing multiple use of the 1000 investment income deduction but also by allowing the use of lower tax brackets and other deductions available to your spouse and children while there are certain res trictions on how the income can be trans ferred income splitting is generally be neficial to you if you have investment in come greater than or ineligible for the 1000 deduction or if your spouse or chil drens income is less than the maximum amount that can be earned without reduc ing your exemption for them time is also a management factor while most individuals recognize investment in come on a cash basis it can also be recog nized under the accrual or receivable method you should consider the impact on your overall tax position when choosing the method youre going to use another way of managing your invest ments to match the 1000 mark is through the use of an indexed security investment plan isip if you already own securities officially opened royal accoustics and accessories new store in an industrial jplaza on esna park rd last week also in the picture from the left are joe dandrea sales manager peter ignani manager and antoinnetta ignani owner sjoerd witteveen dance fc xyc xt gorgoi ouidalioi presents usi0nr uxbridge arenas saturday march 285 8soo pm admission 5 tickets available at getaway travel uxbridge strawberry threads uxbridge stouffville electronics st0uffville jfallllimp krmay real estate limited 104 main st w stouffville 6402223 4732440 it- stouffville 89900 older 4 bedroom home with pine floors bay windows and updated kitchen and bathroom sunroom with walkout to wooden deck overlooking the large back yard situated on a quiet street in older section of town nancy wagg 6402223 6404136 north of uxbridge country charm is in abundance in this lovely 5 bedroom older home large 1 2 acre lot town services fronted by two streets andjias severance possi bilities spacious living room has ad joining dining room with refinished oak floors country kitchen with com- bination mud room and laundry room attached recently built 2 plus garage with workshop sets this home off beautifully reduced to 99900 nancy wagg 6402223 6404136 claremont country 15 rolling acres on the brock road with good potential for business or homesite reasonably priced at 59900 lynda haywardbaird 640- 2223 8527507 uxbridge colonial space is not a problem 2 floors of finished rooms in this charming home overlooking open fields 23 acre landscaped lot close to golf course attached double garage room for guests dorothy richard son 6402223 8526951 building lot for only 15900 you can be building this spring on this v4 acre lot in the middle of udora on a paved road more details call dick fintelman 640- 2223 uxbridge area farm 98 acres 65 working mixed bush and pond barn drive shed and a spa cious 8 room house asking 1 69000 doris smith 6402223 8527605 uxbridge 3 bedroom brick bungalow 2 baths big kitchen broadloom and fully finished basement paved drive dou ble garage many extras asking 89900 doris smith 6402223 852- 7605 and transfer them into an isip they are considered to be disposed of at fair market value and reaquired inside the plan you may be able to realize a capital gain or loss without actually having to dispose of secur ities however as for a regualr sale where a loss arises on a transfer it will not be recognized if the security is transferred back out of the plan or included in a non- arms length sale within the next 30 days on securities in an isip 25 percent of accrued gains and losses are recognized for tax purposes whether or not the secur ity is actually sold interest expense is also a factor to con sider when reviewing investment it is generally deductible if it was incurred for the purpose of earning income therefore you should try to arrange your borrowing and investing to convert nondeductible in terest into a deductible expense for inst ance use your available cash to pay down personal debts and borrow money for in vestment or business purposes if you are selling a home and taking back the mort gage arrange the sale so that your other interest expense such as mortgage in terest on a new home is deductible if youre claiming deductions for in terest expense on a paid basis all neces sary payments must have been made by december 31 1984 editors note john kane ca is a resident of union ville and a partner in the toronto office of thome riddell char tered accountants olde thornhill has all wc eve hoped for with the happy mixture of a small town and tht confidence ol easy access to downtown toronto its great to feel were home mr mrs johnson wc waited 5 years the wait was worth it we have a spacious townhome and super people for neighbors in short we hae a great location great value and a fabulous community mr mrs hobson weve looked a long time for something wed both be happy w ith we found it at olde thornhill mr mrs kennedy wc love olde thornhill and wc can honestly say we were treated very fairly by the builder mr mrs armstrong john st sales office wouldnt you love to live in a unique luxury townhome community like ours come and visit our fine homes our finishing touches say it all priced from just ask about our guaranteed tradein plan 7311654 6384111 steeles models open mondaythursday 98 friday 95 saturday sunday 116 vjft t absolutely ideal for the empty nester or the retired couple seeking a viable alternative to luxury apartment living prices hibjrcl 10 cluiio ujiimimi iioiht t v y v wmwwmuwam r6mx rmkk rftftlbc rhfcc rmsc wmu markville realty ltd 5071 hwy 7 east uni0nville 4775500 i j i valentes country estates minimum 2 acre lots priced from 225000 custom built valente homes 10 minutes north of 7 48 only 8 lots available for summer occupancy trees parkland private lake we have finished homes in markham unionville to show youll dan lebarr 4775500 4711774 j5 u s wanted urgent i have an all cash buyer for bungalow back or sidesplit in sherwood south considering selling please call mary jane swanson 4775500 stunning 1890 victorian home one o claremonts finest homes com plete with carriage house and loft on over acre lot in the middle of the lovely community ten foot ceilings and big windows make for bright end large rooms heavy original trim heated ing- round pool all lor only 144000 call mary jane swanson or charles debour- bon 4775500 markhamhwy7 1500 soft retail space available immediately- includes heat hydro water plus 1000 ft of storage suit auto parts sporting goods etc not suitable lor restaurant super hwy 7 fron tage dan lebarr 4775500 4711774 nj toni sullivan purchasers needed small to large homes available as shown f below plus many more call toni sulli van 4775500 or 2948442 vendors willing and able 1 treestreestrees 4 bedrooms main floor family room and utility mas ter ensuite backs parkland 119900 2 3000 sqft of family living huge coun try kitchen 4 bedrooms premium pool sized yard southern exposure 1 52900 3 pretty starter open brick fireplace in living room upgraded swedish kitchen extra cupboards 2 washrooms 94900 newustings 4 olde unionville village unique 4 bed room home massive living room sepa rate dining private treed lot inground pool 179300 5 133300 3 years new 2400 sqft ol family living close to park schools and transportation 6 fabulous starter 34300 3 bedrooms finished rec room bar corner brick fire place upgraded rose broadloom wm r6mf r60mkk rmkk r6mkk rmkk wmu rsffik wmk wmk wm