Book Early!

TEUCU is happy to announce that on May 17, 2007 a representative from Qtrade will be available to answer any questions or concerns you may have about moving your investments to Qtrade. You can book a free appointment to have a personal demonstration to show you just how easy it is to transfer your funds from other institutions. Appointments can be booked from 1 – 3 o’clock and as always space is very limited so please book your free appointment early so you are not disappointed. Please call 416-542-2522 to book your appointment today.

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Taxes and Levies

Now that the new Federal Budget has had a chance to sink in, I have noticed that there is a new rebate available to those of us who will make the choice to purchase new fuel–efficient vehicles and a new Levy in place for those of us who don’t. Those who choose a car with a fuel consumption rating of 6.5 L/100km or less (or mini-vans, SUV’s and light trucks with a rating of8.3/100km) are able to receive a rebate of up to $2000. For a list of these vehicles please see this link to Transport Canada’s website. http://www.tc.gc.ca/programs/environment/ecotransport/ecoauto.htm
You should see this rebate sometime in the fall of 2007. The rebate will also apply to new 2006 models that have not been registered before March 20, 2007.
Don’t forget about the new “Green Levy”. This will affect any passenger vehicles (except pick-ups) that are considered Gas Guzzlers. You could end up paying anywhere from $1000 – $4000 for your new SUV after March 19, 2007. Ouch! Based on the 2007 EnerGuide ratings, the tax will be:

· At least 13 but less than 14 litres per 100 km – $1000
· At least 14 but less than 15 litres per 100 km – $2000
· At least 15 but less than 16 litres per 100 km – $3000
· 16 or more litres per 100 km – $4000

Although this levy only applies to new vehicles you can go to this link on Transport Canada’s website to check the fuel consumption rating of your vehicle. http://oee.nrcan.gc.ca/transportation/tools/fuelratings/ratings-search.cfm?attr=8

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