PAGE 18e WEDNESDAY FEBRUARY 21,1979, WHITBY FREE PRESS Town advances drainaýge ian, to farmer, Farmers were given fur- ther consideration on. the ecommeridation of the town Sýtaff, last week. 101l Brock St. S., Whitby BARB ANVYON Robert A. Shea, F.R.l., Presi- dent of Family Trust'Corpora- ,tion Realtor is pleasedý to announce the association of Barb Anyon to the Company's Whitby office. Mrs. 'Anyon looks forward to providing a thorough and conscientious Real Estate service to pur. chasers and home owners in the Whitby-Oshawa area. Barb may be reached by catling 668.8865 or her residence 655- 4057. The Council authorized the loan of $900 for tile, drainage purposes for a farmner's farm land. The loan is to be repaid over a period cf 10 years at. an annual interest rate of six per cent. The application for the boan came under the Tule Drainage Act and'is pro-' vided by theProvince of Ontario. The boan application is frem farmfers who wish te drain their farm. land te increase the usable acreage for agricultural purposes. The Province will fund 75 per cent of the boan and the balance is funded by the applicant. These boans hav e an interest rate of six per cent yearly and are repay-. able over a 1-year period. Treasurer Forbes McEwen pointed out that the money is actually loaned by the Province in the form of a debenture to the town. T hen there is the procedure of going to the Ontario Munici- pal Board to obtain approval for the bcan, which takes about four to six weeks. 11e said the amount of time it would take to complete the whole process mhay prevent FRAN-Ki 225 BROC'K STREET NORTH' 668-6171 EAST SIDE 0F WHITBY $63,900 3Bedroomn Bungalow. Living and Dining Roomn L-Shaped. Family Roomn. Paved drive, close f0 Schools and Shopping, and on nice Established Street see this nice home with Herb Visser 668-6171 or 668-5718 HARDWARE STORE $29,000' Be.your own Boss. Store has great potential in expandlng Malil. For more information please caîl Herb Visser 668-6171 or 668-5718 GROW VYO UR OWN ON 235 Lot $54,900 Enloy country atmosphere in this immaculate 3 bedroomn Oshawa Bungalow. Ift features a new kitchen, Living and Dining, 34' Rec. room with bar, extra Insulation, hardwood f loors, 1 1/2 car heated garage on a hobby farmdrIs lot. See it soon with Merv Parchnient 668-6171 or' 579.0569. I DEAL the applicant frôm îcomfpi1e- ting the work and using the land for the 1979 growing season. "On top'of that," he said, "I appreciate we are pre- sently investing funds at'a higher rate of interest in other types of investment. However, the interest lost to the Towin would flot nearly Arena evenits are set A full schedule of activities has been planned for Iro- quois Park this spring, reports Recreation' Director Wayne DeVeau. From April 20 to, 22, the Onitario Gymnastics Cham- pionships will be held ini the arena. April 27 there will, be, a Kinsmen Club. dance, and April 28 there will be the Whi tby Lions Club spring dance. Two tentative bookings are Frank Londo Enterprises May 4 and 5, and a backyard swimming pool seminar May 7 to 10. 1May 16 the Ontario Provin- cial Police will hold their inspection ceremonies, May 18 to 20 there will be the C.B. Breaker 1 Meet, June 3 there will be a Church of Christ program, and June 22 there will be the Henry Street High Sehool reunionat the arena. WHITBY- NO DOWN'PAYMENT, 3 bedroom Town home, rec. room, stove & fridge, immnacu- lately kept. Cali Patty Simp- klss Real Estate 571-1250 Residence 668-6336. cover the admilnistrative expenses of, processing this oa'n through the Ontario Municipal Board and the Province." A Brooklin area farmer, G.A. Hunter, had applied for the tile drainage boan, but the Town Council decided it would be cheaper to advance the $900 boan to Mr. Hunter which is to be repaid in 10 years with interest and reduce administrative costs to the Town. Red Cross eleets its executive The following people were elected to the executive of the Whitby branch of the Canadian Red Cross Society recently: Honorary' President is Mayor Jim Gartshore and Honorary Vice-President is Mrs. Edith Bedell. Chairman and President is Jim Milîs, Past President is Jaquie S8'ims, First Vice- President ,- and. Revenue Resources'Chairman is Bill Bently,. Treasurer is Rose Melntyre and Secretary is Rick Bagg. Other executive commit- tee memnbers are: Pat Phillips, publicity chair- man; Marion Irwin, home- maker chairman; Mansil Morris, homemaker vice- chairman; Sadie Pope, boan cupboard chairman; Hanna MacMillan, service for seniors chairman; Joan His- cox, layettes chairman; Gladys McKenzie, Assis- tance International Domes- tic Chairman; Jacquie Sims, water safety chairman; and Peggy Greenfield, youth chairman. Public Works Travaux publics OFFICE $PACE AVAILABLE FOR LEASE BOWMANVILLE, ONTARIO Public Works Canada has available to lease approximately 80 mn2 (usabIe) of office space on the 2nd f loor f the Government of Canada Building, 4 1 Temperance Street, Bowmanville, Ontario. Landiordl will renovate space prior f0 occupancy. For further information, please contact M. Morgan (Toronto-224- 4282), or reply in writing f0: H.P. Large Regional Chief Space Management and Marketing Public Works Canada 4900 Yonge Street Toronto, Ontario M2N 6A6 Equirios should bc received on or before February 28, 1979. HAVE YOU THOUG*HT ABOUT A'CAREER-., IN REAL ESTATE? .and done nothi ng about ih BLAIR BUCHANAN 1Iwil1give you an hour or m'ore of my tîme to try to help you decide. CAIL ME-ANYTIME * 688865 68 6313 Opportunities in aur Whitby Off ice. ~ 30OFFICES _ TO SERVE IttStYOU BE i iER 1DOLLAR sentiE Planning wih RRSP keeps farm in fa'mily- When fa about thei] years, it is1 the idea ti distant day leisuree yea financed by of the sale of assets. But sinoe1 capital gaii introduoed, has undei changes, pi situations wI expects his purchase the today .mt sufficient ci General i by members of Chartere of Ontario. theni both ment incom( the capital resulting fror Mind you, provide a n a tax free sa to children. sale mnust b( price the fai when valuai established ii By Donald Shaughnessy, CA armers think provide enough income ir, retirement, te pay the difference generally with between the valuation at when that- day value cf the farm, and arrives, their what it is really worth. ýars will,* be An RRSP has two distinct rthe proceeds advantages. The contrib- )f their farming utions made. are tax dedue- tible, and it becomes a tax 1971, when the shelter for the income that ins. tax was it earns. RRSP 'interest this prospect rates today are competetive -rgone some with bank or trust company articularly in investment certificates, and here the farmer the cost cf entering and ;children wjll maintaining the plan are 1farm. Parents minimal. ýust receive The' effect of the tax ash te provide deduction and the income shelter creates large cash rinancial advice 'resouroes quickly'. For Sof the Institute instanoe, 8$2,000 a year'in d 'Accountants aftertax money will create a fund cf $197,000 in, 20 with a retire- years, for farrners who are te, an to >in a 4 per cent tai bracket. e, a ,d te In 'their case, toc, the gains taxes shortfall between the i, thalw .e valuation day value of the tecais faos farm, and what it is really ale of the farm worth in the year 2020 will However, the be much larger, and the e mae atthe cost to their children that )ermad wa th much greater unless this .1I,%l O .,Wr alternative is followed. n 1971. In, other 'words, the« parents must forego the benefit of the increase in land values since, 1971. .They thus face a dilemma; whether to selI the farm for a price that may not yield sufficient retirement income, or selI it at a price that wilI pay the capital gains tax but make the price so high that the children will not be abl e te operate the fanm economically., One alternative the farmer has te avcid that situation is, te open a Registered Retirement Savings Plan that will For young farmers who are looking te their children as sucoesscrs, the choice simply disappears; the RRSP becomes a virtual neoessity. Their cost base for the tax free transfer is likely to be an insignificant amount cf money 30 or 40 years from now because-cf the effects of inflation. Thus, long-range retire- ment planning involIving the use cf an RRSP may well mean the difference between a family farm that stays in the family, and the one that does net. Mr. 'Shaughnesisy la with G.H. Ward & Partners, Cobourg. VOL UNTEERS NEEDED For Local Driving Caili 668-6223 Corne to our WHITBY lst.- ANNIJAL MEETING CE LEBRATION e;ý Wednesday, Feb. 21 7:30 p.m. .- Theatre Whitby Centennial BIdg. M(;Centre. t. S EVE RVON E WE LCOM E COMMUNITY CARE. 824 rockSt. .,e.ite BRICK AND CEDAR Two years- large Living room - Fireplace, waîkout, 18' Master, Appliances and drapes ONLY $64,900 Caîl Bruce Opferkuch 668-6221. LAKEVI EW--Fi REPLACE $47,900.00 - Detached Bunga- low, 201 living. rocm, f ire- place, applianced Kitchen $2,400. DOWN. Caîl Sandy Hepburn66621 1/3 ACRE ON RAVINE Modern Brick Split level, 18, kitchen, 4 Bedrecms, 22# Family room, f ireplace, walkout. 10 percent MTGE. $78,900. Cali Prudence Byford 668-6221 RAVINE AND STREAM 4 Bedroems, large kitchen 2 walkouts, 3 baths 8 3/4 per- cent MTGE. $59,900. Cali Helen Couture 668-6221. ui-t 101 Brock St. S., Whitby 668-8865 NORTHWEST WHITBY' Situated on lovely lot 66x 143. Close to wellequipped park. 3 bedroom solid brick home. Enclosed Porch and mudroom off kitchen. Single garage. $54,900.00 Blair Buchanan 668-8865 or 668-6313.