That Council consider one of the following options to offset the impact of the elimination of the tax exemption for one third of the Mayor’s salary:
Option 1
Increase the Mayor’s contribution to a RRSP to 18% of the Mayor’s annual salary to partially offset the impact of the tax free exemption.
Option 2
Provide a one-time increase in the Mayor’s annual salary in the amount of $8,000 which would result in the Mayor receiving the same net pay prior to the elimination of the tax free exemption.