.5 Page 8, Whitby Fee Press, Wednesday, October 27,1993 WMHBYrFREE PRESS Lasco durmp approval expected soon ýy Mike KowalskI Provincial approval of Co-Steel Liascos proposed waste disposai site could lie forthcoming by the new year. The Ontario Ministry of Environment and Energy is expected ta make a decision' within the next few menthe on Co-Steel Lasco's plan for dispôs- *ing of waste produced by its automobile shredding operation. Ministry staff are currently preparing the terme and con- ditions of a certificate of approval which wouid permit a massive earthen berm te lie built sauth of the company's Hopkins Street factory. TIheir recommendations will then lie circulated for comment * from other govenment and pub- lic agencies before com nbck ta the ministry for a decision. «If everyone's concerne are lcoked after, optimisticaily it (approval) could lie given by the end of the year or eariy in the new year," said Theresa Gavin, review co-ordinator for the ministry's environmental assess- ment brandi. «Basicaily, there'e been no objections ta the proposai,» she said. î' Earlier this year the m'ýnistry invited the public te comment on Co-Steel Lasca's plans. The company je praposing ta bury waste from its shredder operation ý in a maâssive berm near the Lake Ontar ia ehoreline. The berm would have a 20- year life pan and lie composed of earth andl waste such as rublier, plastic glass and cloth not recy- cied wIen aid cars are shredded for metal. Gavin said the ministry recei- ved only two sulimissions in res- panse ta its caîl for 'public input and neither objected te the pro- ject. The ministry itseif has ne major objections but it did have same concerne of a teclinical nature te which Co-Steel Lasco han, responded, Gavin said. Althougli the ministry received no requeste for an environmental hearing, Environment Minister Bud Wiidman could still arder one if he sa chooses. If minis appravalis granted scon, it wiil brrng te an end a sîx-year ait for Co-Steel Lasco. l1986,1LSco (as it was then known), ,moved ite ehredding operation ta Whitby from Tarante Harbour. The site lad been located on Cherry Street and the waste Don Ys ne w No Frîlis DON SCRIMGEOUR opened his new Don's No Frilis store at the new Dryden Heights Diaza (Thickson and Dryden) Mon- transported ta, a dump near Dun- das, Ont.* When Lasco moved the shred- ding operation te Whitby the Dundas facility could na langer lie used due ta gcographic re- strictions placod or. the site's certificate of approval by the minietry. In 1987, Lasca submitted its application for the permanent bermi and at the same time began operating Et test berm for demonstratian pumpoees. But three years later the test bermi was fuil and, unable te wait until a decision was made on the permanent berm, Lasco began dumping the waste inte a temporary sterage site. Last year.the minisr granted Lasco permission ta addaà nother 50,000 tannes of material te the original 125,000-tonne site. Tis past February, the com- pany applied for permission ta expand the teftporary sterage site by an adctional 100,000 tonnes. A pravisional certificate of approval was granted by the ministry in June, but was not circulated for comment until Sep- tember. Last niglit (Tuesday) Tawn day. Don's old store on Brock Street'South in downtown Whitby is now BilI's No Frilis, and is owned and operated by Bill Watkin. Photo by Mark Reesor, Whltby Free Pres council was expected ta deal with a planning and developreent committee recommendation that Whitby bas no abjection ta Ca- Steel Lasca's lateet request. In the p ast, beth Whitby and Durham Region imposed sevemal conditions on the company in retumu for approving the tempar- amy and.permanent bermes. If you live on Interest Income then Today's Low Interest Rates are B ad News ... THERE IS GOOD NEWS! LET ME SHOW YOU THE SOLUTIONS! Financial Cali for your frce .F ml dC m o ureS. iwfU V a abuasroaa bstyl i io n owned yF.C.G . Sea ituaC aqtaratio rmeing, today. You desrve it. 666-7777 .Al 1~ h DEREK DUTKA Canada Savings Bonds - I can't afford to own them Millions of Canadians have purchased Canada Savinge Bonds in the past. Not only lias it been a patriotic thing to do, but it has provided mayaadians with a safe, secure way of building up a net= g for cie n's education, as a reserve fund or to draw an te upleent their retirement incorne. Once a habit ie formed, it la bard ta break., The government haa taken advantage of that. Their version of the 'fail classic' is flot the World Series, it is the ilflions of Canadiana lining pta buy or renew Canada Savings Bonda. The firet step waa ta eïinate te $1,000 interest incarne deduction (per persan). That wasn't a big thing, but it had helped many Canadians shelter the incarne they were earning on the bonda. The government noticed that didn't deter too many people frm buying Canada Savinga Bonda, sa they took ste two - they changed the timilng of the taxes. In the paat, if you helda campounding bond yVou oniy ha to declare the incme when the bond actualiy matured. Now you have ta pay tax on the interest it carns each year. Sa the goverament wants you te pay your tax before of yau actually cash in your bonda. Well, that cidn't deter too many nole either. It takes a lot to break a habit that is airnoat 50 ycars aid. Re;member how Canada Savinge Bonda had a guaranteed minimum? You could plan ahead by knowing at least what the minimum interest was going ta be. Step three was remaoving that minimum. Now it doesn't matter which series of Canada Savings Banda yau have - they ail earn the samne interest. Eve that that didn't deter tea rnany people. The governrnent bas moved ta step four - low rates. Framn Nov 1 1993 ta Nov. 1, 1994, Canada Savinge Bonda wil pay 4.25 per cent. âne year ago tbey paid 6 per cent. Two years ago they paid 7.6 per cent. Tbree years ago tbey paid 10.75 per cent. That'e a 43 per cent decreaae in the last twa years and a 60 per cent decrease in the laet tbree ycars. If you bave been counting on Canada Savings Banda ta provide you with an incarne, I sureh ope u have lots of thern. Foir example, $100,000 invested iCana a avings Bonda wiil provide you with a rnantbly incarne of $354.17 befare incarne tax. At the lowest tax bracket y au would pay $95.63 i taxes, Ieaving yau wlth $258.64 per month ta lIve an. If y au had $1 million in Canada Savings Bonda, you'd end up wth less than $2 600per rnonth (because you'd get bumped up inta the next tax brackei). Tat s less than a 3 per cent return an yaur investrnent. There is hope. There are alternatives available. Cashable terrm deposits are available that will pay up ta one-balf per cent higher than Canada Savings Bonda. lThey are covered by the 'Canadian Deposit Inauranoe Corporation. You can also cash them in anytimne after 60 days and receive intereat rigbt up ta the day you cash it in. Annuities provide a guaranteed stream of incarne, but are taxed at a lawer rate, rneaning yau end up with mare maney in your poket. Most preferred sbares pay more t han a 4 per cent dven. With tbe dividend tex credit, yaucoeuld earn up ta $22,000 of incarne withaut paying any tax. Comman sbares grow through capital gains. Many peole have not used up their $100,000 tax-free capital gains exemption. Settink; up a systernatic withdrawal jrogramn from an equity mutuel fund can pay you a higlier incarne ana Iowcr your taxes. 'lat was explainedi detail in last nianth's clumn. I cauld go an. The point is that y ou have worked bard for yaur rnoney and you need it ta work bard for you. I encourage you ta break the habit of buying Canada Savings Bonda. There are secure alternatives that wil allow your rnoney ta do better for yau.