Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 13, 1991, Winnipeg, Manitoba 10 Winnipeg free january 1991 boat Industry rides environmental wave consumer concerns addressed by Marlene Habib Toronto up like other business the boating Industry is hitting rough Waters during these Tough economic but dealing with canadians limited budgets int the Only Challenge facing the Industry As it prepares for the 1991 boating which was launched yesterday with the 33rd annual Toronto International boat consumer concerns about the environment in particular the water and noise pollution generated by motorboats also have to be said Jeff executive director of outdoor the nonprofit corporation that sponsors the nine Day Toronto show at exhibition the association donates profits from its 23 consumer shows and four magazines to conservation and other outdoors especially because of the Way the Economy is the boating Industry has recognized that it has a responsibility to address the pub pics including about the said but boaters Are becoming More actively involved in the outdoors trying to appreciate and protect environmental groups and cottagers in Quebec and Ontario in particular want boaters banned from lakes or a limit placed on the numbers of boaters allowed be cause of pollution much of the pollution is the result of Oil and Gas toxic motor emissions and garbage thrown overboard by Energy efficient As a companies and manufacturers have introduced products such As environmentally Friendly cleaning solutions for and More Energy efficient out Board engines that dont Burn or discharge Giles theres a much greater consciousness among boaters to pre serve clean water making sure cans and other garbage dont end up in the water so people can swim in areas that boats Are said Michael executive director of the Kingston based Ontario Marina operators Assoc a which represents about 400 Marina because of marinas Are separating their garbage for Recy cling purposes whenever Possi in said marinas Are encouraging customers to allow Dock attendants to fill their boats with fuel to try to avoid Oil and Gas despite consumer concerns Over motorboating seems to have become More popular than sailing in the last five Indus try spokesmen Canadian sales of All new boats and motors were about million in the last year for which figures Are the Marine business in Canada includes insurance and dockage costs generates billion to billion a but that figure has been declining slowly Over the past year because of the said a boat receives a touch of spit and polish at Toronto boat Young should get into the habit of buying rasps find your number below to find whether you should be getting excited about also Check the other age categories in Case you Are More mature or your remember a you deduct from your income Money you contribute to your or a spousal registered retirement savings b funds in an resp can grow tax c Money received Back from an resp must be added to also re member to balance a saving now to have More to spend later with b spending and enjoying d 1720 get into a regular resp savings habit Early and that habit should pay big dividends in the fun perhaps set up an automatic monthly contribution no matter How put a year Between Ages 18 and 25 into an resp compounding at 10 per cent and you will have at age if you Start Only when you Are you will have to contribute a year for the next 40 years to accumulate the same if a student contributes to an resp and so ends up with Little or no taxable then unneeded Edu cation and tuition credits May be Mike Grenby transferred within limits to a sup porting Parent or d 2130 you might use an resp for a Short term contrib Ute while you Are working to save then perhaps withdraw some of the Money in a year when you return to travel or otherwise have Little or no you will pay Back Little or no contribute to a spousal resp if your spouse plans to take time off to raise a once three years have passed since you made any contribution to any spousal your spouse May withdraw the funds and probably pay Little or no this Money could be used toward buying a Home or paying Down a you can also use your own resp for this purpose As Long As taking out and declaring the Money wont find you in a higher tax bracket than you were in when you made and deducted your contrib d 3140 most people should be contributing to an resp by this especially if they have More than taxable income a year which Means they pay at least 41 cents tax on every Dollar of Only people with expertise and time can outperform rasps by investing in the Stock real estate or a if you expect your spouse to be in a lower tax bracket than you when the resp funds Are with contribute to a spousal mortgage Paydown resp if you have taxable income of More than and will earn a reason Able return on the resp for at least 15 contributing to an resp is probably More profitable than pay ing Down the starting with this 1991 tax you could pay off the mortgage then make catchup resp contributions later As Long As you do make those extra contrib or Compromise contribute to an resp each then use your tax savings to pay Down the current resp Deposit Trust Aetna age Canada Central guaranty Trust guaranty Trust citizens cooperative Trust Trust confederation first City City first line line household income Inland investors group group metropolitan Montreal Mutual National North West West Pacific Western Western peace Hills Hills Peoples Presnor regional Royal Saskatchewan Standard Sun lilo life Wellington Bank of Canadian Western of Western Hon Kong Laurentian National Royal Bank of Scolis Bank of Toronto Dominion Dominion life companies companies America Canada Crown great West West manufacturers maritime 1 Melro Bolilan nth North american american Koyal Seaboard Standard Sld Tran Samerica Westbury Canadian Canadian other Assiniboine credit Crix Jit la Caisse de Caisse de Security Homo Navi certain Man mums May apply to both rasps and rates subject to change without rates Tor Home Are compound annual interest and May include special on resp deposits and interest on Are term certain minimums Mav Days 1 1 Days the majority Are compound not annual and will Days Days or prior to maturity with a Market value not All companies Oiler both registered and Nobreg stared 9 Days Days quoted As of january financial pm to Winnipeg free d 4160 with few work ing people in this age bracket should be making maximum resp Contri especially As most Are Likely to be in a higher tax bracket now than after continue to put Money into a spousal plan if the comment above under the new you May Over contribute up to to an you could then apply your contribution room in a future year to use up the if you you will be taxed again when you withdraw the if you Are in the top tax it could take around 15 years before the tax free growth More than makes up for this double d 6170 continue contributing As Long As your spouse will not be in a higher tax bracket when the resp funds Are if you Are receiving a private you May put up to a year of this pension but not cup or Oas into a spousal plan through leave your resp to grow tax free As Long As a the funds Are not needed and b you wont be in a sharply higher tax bracket when the Money comes d71plus if your spouse is 71 or you May still contribute to a spousal you must decide before the end of the year you turn 71 How you want to withdraw your own resp funds whether As Cash usually not a Good idea because you lose too much to Revenue Canada or through an annuity or Trif registered retire ment income Over the years spend at least As much time choosing and caring for your As you do choosing and caring for other major expanses like your after you will probably need your resp to help buy and run your in the volatile Gold Market Calls for Strong stomach by Susan Yellin Toronto up the persian Gulf crisis could set a fire under languishing Gold prices and mean a Windfall to investors and Gold producers who have the fortitude to analysts said people Are speculating that if theres a then Gold might jump to incredibly nigh Levels and make a Quick return on their said Carlos an economist with the Royal Bank of Canada in you need a Strong stomach to play in this kind of Gold prices that had settled around us an ounce Over the last few months have been spiking White families better off Washington a White families in the United states were 10times wealthier than Black families in married couples had More Money than single people and the old were Richer than the a census Bureau study said the study also found the main source of household wealth was fam ily the median household net Worth assets minus debts was us in on half the households in the United states were Worth More than and on half Worth four years the median net Worth was but because of sampling the numbers Are essentially the said Judith author of the the report Breaks household incomes into five families in the top 20 per cent owned 44 per cent of total household families in the Bottom 20 per cent controlled Only seven per families in the top rank had a median net Worth of in the comparable figure was for families in the Bottom the median net Worth for Black households was in the figure was for White House married couples had a net Worth of the highest of any Type of households headed by men were Worth those headed by women had in median net households headed by someone aged 6569 were the with median net income of the poorest were those headed by some one under age with median net Worth of nearly two thirds of the House holds owned Homes and those prop erties made up 43 per cent of the country household the next mos important Type of represented Only nine per cent of gaining an ounce one Only to lose about the same amount within the next Day or the recent fluctuations have been caused mainly by events in the Gulf As tensions the Price of Gold increases flickers of a peaceful Resolution see Gold Bullion prices Gold is still seen As a Safe Haven from political and economic i Stabil despite two years of a depressed those who stand to gain from the Gulf situation Are both institutional and private investors who live by the old adage of buying Low and Selling potential Price increases Are i that Why you can reap quite a Large said Cath Erine a Gold analyst with Mcneil Mantha in but those prices could Well be tempered by major Gold producing countries and mining Leitao the soviet a major Gold spent most of 1990 Selling the precious Metal to raise Money in Hopes of propping up its deteriorating Leitao More Gold on the Market pushes prices the big Gold mining companies want a stable Cash flow so they can plan their future mining More than 90 per cent of North american Gold mining companies sell Forward at least some of their expected production on the futures Gignac As soon As prices Start to Rise producers begin to sell Forward which also tends to keep a lid on she Many companies Are hedged against fluctuating prices a tool they use not so much to make Money As to avoid losing Toronto based american for has about 75 per cent of its estimated production according to the company latest an Nual american through its hedging is still Able to participate in the upside if Gold prices a company spokes Man important message your interest rate for All resp matures up to must be done by on 1991 rates Over 1 2 3 11 9449131 4 serving for 18 years planners pick a the equity your direct line to a troop of Canadas biggest Money whether youre shopping for a mortgage or simply due for you owe it to yourself to Call the equity Centre you fill out just one and our professional staff will transmit it to some of Canadas biggest Trust companies and financial instantly and within 24 youll have a response from each one of so you can pick the mortgage that right for without chasing around or filling out a stack of Call drop by for a no obligation demonstration if you Call to arrange for an the Centre 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