Trusted Tips and Resources

Trusted Tips & Resources

Trusted Saskatoon Accountants at HTH CPA's Tax Tip: Underused Housing Tax (UHT) Returns

Hounjet Tastad Harpham has decades of accounting experience working with clients across Saskatchewan. Their expert accounting advice is valued by clients ranging from individuals to businesses, small and large. Hounjet Tastad Harpham is a Trusted Saskatoon Accounting firmand in their latest helpful Saskatoon accounting and tax tip, they explain the new Underused Housing Tax (UHT) Returns.

Underused Housing Tax (UHT) 

The Government of Canada implemented the Underused Housing Tax (UHT) on June 9, 2022, and as of December 31, 2022, it will impact certain residential property owners. 

 

A residential property owner who is not classified as an “Excluded Owner” must file the UHT return by April 30 of the following year. They may be required to pay an annual 1% tax on the Taxable Value or the Fair Market Value of the vacant or underused housing.  

 

Excluded Owners include Canadian citizens and permanent residents, so most individuals will not need to file a UHT return. However, all private corporations, partnerships and trusts (even those owned by Canadian citizens) who own residential property will be required to file a UHT return annually, even if they are exempt from the UHT.  

 

Failure to file a UHT return has significant penalties, starting at $5,000 for individuals and $10,000 for corporations. Further, failure to file could lead to the UHT being payable, even if an exemption should have applied.  

 

If you are a Canadian citizen or permanent resident (except in capacity as a partner or trustee), no action is required on your part. Anyone else who owns residential property, including individuals who own the property as a partner or trustee, may want to consider discussing your situation with your tax advisor.  

 

Exemptions

Your ownership of a residential property may be exempt from the Underused Housing Tax for a calendar year depending on:
  • the type of owner you are
  • the availability of the residential property
  • the location and use of the residential property
  • the occupant of the residential property
Remember, if you are an affected owner of a residential property in Canada on December 31 you still have to file an Underused Housing Tax return for the residential property for the calendar year, even if your ownership qualifies for an exemption.

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Accounting Services:

If you are looking for a Saskatoon chartered professional accountancy firm contact the team at Hounjet Tastad Harpham today.

HTH is a Trusted Saskatoon Accountant 

Tax specialist



Get Your Jewellery Appraised At Bateman Jewellers, a Trusted Saskatoon Jewellery Store

Bateman Jewellers are Trusted Saskatoon jewellery experts! Did you know that they are the oldest independent jewellery store in Saskatoon?  Bateman Jewellers maintain that the relationship with their clients is very important to them. In their latest Saskatoon jewellery tip, they discuss the details of jewellery appraisals. 


GET YOUR JEWELLERY APPRAISED BY BATEMAN JEWELLERS

What is an appraisal?

An appraisal is a professional opinion of the authenticity, quality, design and approximate value of a piece of property. An appraisal must be typewritten in concise, objective and internationally recognised terminology, accompanied with a photo.

Why Appraise Jewellery?

Most people require appraisals for obtaining insurance but other reasons may include - a division of property upon death or divorce, as proof of ownership when travelling, to use as collateral or for resale.

Where to Find an Appraiser

There is no licensing body which requires jewellery appraisers to attain a minimum level of education/experience before practising. Until legislation is passed to protect the public from those who are unqualified, the burden is on consumers to investigate a company's reputation and question its appraiser's competency. Our Appraiser(s) have a minimum of 25 years of experience and are G.I.A. certified.

How Much Will it Cost?

Fees vary among qualified appraisers. Professional-level fees usually indicate a high degree of education and experience as well as state-of-the-art lab facilities. Since no one professional can be an expert on everything, occasionally your appraiser may consult with others who specialize in a particular field. Be prepared to allow extra time and cost. See our Price list to give you a guide to our pricing. It is always best for us to see the piece first to give you an accurate price quote.

When You're Ready

When you bring your valuables to Bateman Jewellers, we do the appraisals locally. We insure the item(s) for the duration of their stay with us, providing your peace of mind. Although the normal turnaround time is about 1 week, same-day services may be arranged by appointment with notice.

  • Minimum Charge $80
  • Multi-stone item $100
  • Complex items with mixed stones $120
  • 2 ring sets $120 (simple)
  • 3 ring sets $160 (simple)
  • Complex ring sets  $240
  • Most Watches $125+
  • Bracelets $80 - $100

Bateman Jewellers continues to have a strong reputation in Saskatoon, and this is due to their loyal customers who appreciate the friendly, family-orientated store that they have come to expect! As a team, Cam and Jan are committed to ensuring that Bateman Jewellers remains the same for many generations to come.

'Your Jewellery Is A Lifetime Investment... Buy It From A LifeTime Friend'

Bateman Jewellers is a Trusted Saskatoon Jewellery Store

Trusted Saskatoon Furniture Store Palliser Rooms EQ3 Celebrates 20th Anniversary In Style!

Palliser Rooms is an independently owned business proudly serving Saskatoon and the surrounding area. Their experienced, friendly sales consultants are dedicated to ensuring your shopping experience is positive. This effort extends to their professional, courteous delivery team and onsite service department.  Their furniture brands are carefully chosen for their style and value with an emphasis on custom choices. In our latest article, we are shining a light on Pallier Rooms EQ3 as they celebrate their 20th anniversary! Palliser EQ3 is a Trusted Saskatoon Furniture Store.


Trusted Saskatoon Furniture Store Palliser Rooms EQ3 Celebrates It's 20th Anniversary in Style!

In our latest article, we are shining a light on Palliser Rooms EQ3, a Trusted Saskatoon Furniture Store, as they celebrate its 20th anniversary! We are also running a contest to celebrate this awesome milestone on the Trusted Saskatoon Facebook page  
Be sure to scroll down to the bottom of this article to see how to have not just 1 but 3 entries to win the $500 Palliser Rooms EQ3 Gift Card up for grabs!! 

Palliser Rooms EQ3 is an independent, locally-owned furniture store that opened in 2002. The store is well known in Saskatoon for offering a generous selection of contemporary and stylish furnishings and focusing on supporting Canadian-owned brands. The mission at Palliser Rooms EQ3 is to help you create a beautiful home for your family. The local team prides itself on offering personalized service that is forward-thinking and client-focused.

Brian and Judy Bird first owned and ran the local furniture store for about a decade and a half, then when the opportunity arose their daughter Allison, and son-in-law Tristan Rawlings, were able to purchase, and they now manage the family business.

When entering Palliser Rooms’ vast 23,000-square-foot retail space, you don't feel overwhelmed, which can be an issue in other warehouse-style national chain furniture stores. Palliser Rooms has a light, airy, visually stunning, surprisingly intimate, inviting feel. The smell of new and superior-quality leather furniture is appealing, and their careful arrangement of stylish accessories complements the floor models without overwhelming the eye.


The Secret Sauce?

Palliser Rooms EQ3 has hundreds of Google reviews, highly rated there and anywhere else you find online reviews. When reading the comments, it is abundantly clear that the staff at Palliser Rooms understand their customers. They recognize that high-quality products, excellent customer service, and fair pricing are the key to success, customer loyalty, and longevity in a competitive retail marketplace. 

"Always a fantastic experience at Palliser Rooms/EQ3, from Tristan through the entire Sales Team and all the staff. I'm always greeted and made to feel welcome as soon as I come through the door. Amazing selection of high-quality products!" - Christine McTavish
"I am so impressed with the low-pressure and top-notch service at Palliser Rooms. I didn't realize it is locally owned and operated!!! I strongly believe in supporting local, and it is really easy to support a local business when Palliser Rooms has excellent customer service and awesome prices. Thanks again for all your assistance with my furniture." - Dave Owens

Other Trusted Saskatoon Partners also agree…

"Great service, quality and price. Would highly recommend Palliser to anyone! We love Palliser Rooms/EQ3 furniture, and their service is excellent. They have some great furniture for small spaces, and I love all the custom options!" - Brad and Anna, owners, Wiebe Windows & More.
"Very helpful and made purchasing our furniture easy and enjoyable." - Sheryl Harras - Owner, Backyard Living Centre

The comments clearly reflect the company's commitment to providing excellent customer service. They speak to the beautiful taste and attention to detail. 

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When we asked General manager Tristan Rawlings, what he thought was the secret to Palliser Rooms / EQ3's success, he said

"Palliser Rooms embodies an 'all about choices' philosophy. We understand whether you have an inherent "do-it-yourself" personality or find decorating an overwhelming process. Our staff is committed to providing valuable information, inspiration and the necessary tools to make your project-large or small-a success." 

What clearly defines Palliser Rooms is the idea that designing a home is a process and not just a matter of purchasing furniture or accessories to fill a void. If you are trying to plan out your decor for a new house or a redesigned space, they go the extra mile. If that is the case, the staff at Palliser Rooms encourages customers to bring their blueprints, drawings, pictures or ideas to the showroom. The professional consultants are committed to helping you plan your space and visualize your best look. Their goal is to take an experience that can sometimes be overwhelming and transform it into a "style journey" that is pleasant, easy, and fun. 

We want to congratulate Tristan and the Palliser Rooms EQ3 team on 20 years of excellence. We look forward to promoting them for many years to come. 

In the last 10 years, Palliser Rooms / EQ3 has been re-checked, re-verified, and mystery-shopped, and has passed each and every time. They continue to be one of the best furniture stores in Saskatoon and area and have always upheld our 5 TRUSTED GUARANTEES of service for their 11 YEARS as Trusted Saskatoon Partners.


HOW TO ENTER THE PALLIER EQ3 20TH ANNIVERSARY CONTEST

1. GO TO THE FACEBOOK POST here: https://www.facebook.com/TrustedSaskatoon/videos/813581946594409/ And comment with your answer to the post question!

FOR 2 EXTRA ENTRIES:
2. CLICK HERE TO SUBSCRIBE TO THE PALLISER EQ3 NEWSLETTER
3. CLICK HERE TO ENLIST AS A TRUSTED TROOP





Palliser EQ3 - Given the Thumbs Up as a Trusted Saskatoon Furniture Store for over 11 years!

Palliser EQ3 is a Trusted Saskatoon Furniture Store!


Developing Your Basement With Trusted Saskatoon Contractors K & S Contracting - Part 2 of 2

K & S Contracting specializes in foundation repair for homeowners across Saskatchewan. In addition, they also offer general contracting services to Saskatoon and the surrounding area. In their latest Trusted Saskatoon tip, K & S Contracting, Trusted Saskatoon General Contractors, and foundation specialists, they continue last month's blog on Developing your Basement. This is Part 2.

DEVELOPING YOUR BASEMENT - PART 2

Many basements are little more than a place to collect cobwebs and store stuff. However, fixing a full-height basement can increase the usable living space in your home at a lower cost than adding on. Basements can be turned into any one of several living areas: bedrooms, rec room, or office space. 


Changing a concrete dungeon into an inviting living area can be a challenge, and not every basement is a good candidate for finishing. And this time, we are going to review the key considerations for conversion including lighting, ventilation, and dressing up those window wells.  Although you can do some of the work yourself, hiring K & S Contracting can save money and headaches. 



WHERE IS THE LIGHT? 

Basements that walk out usually have an abundance of light; however, when the only light is from small, ground-level windows, the basements can be dark and uninviting. The first step is to clear away shrubbery from existing window wells to make the most of what natural light there is available. If the basement is served by a steel bulkhead, a door with glass lights can be installed at the bottom of the steps and the bulkhead doors left open when the weather is nice. 

The options listed above, don’t always do the trick, so lighting needs to be added to the ceiling. Depending on the area you have to work with, you will have different options. Some of them include track lighting, recessed lighting or “can” lights can be added as spot or flood lamps. These lights allow you to add a dimmer switch which gives you more lighting flexibility. 


VENTILATION ISSUES

If you only go down to the basement occasionally, musty, damp air may be something that you can tolerate. But once the basement becomes a true living space, some form of ventilation is crucial in controlling air quality. Using reverse fans work, in winter they draw in fresh dry air from outdoors, and in summer moist air can be pumped out of the house. If the home already has a forced air heating system then the basement can become another area. 


HOW TO DRESS UP THE WINDOW WELL

It’s hard to enjoy the view out of a basement window if all you see is a when all you see is corrugated steel. Changing that dreary scenery may be easier than you think. You can add a view of the seashore, mountains, woodlands, desert or golf course with Scenic Window Wells’ WELL liner. These are weather-resistant polystyrene liner that slips into a standard window well. The window well liners will allow you to imagine you are on vacation to the ocean or on the golf course. 

There’s a lot to think about when you convert your basement into a bright, welcoming living area, when trying to make the decision to develop your basement, we recommend you call Steve and ask him to provide you with your options and costs. Once the work is done, you won’t be sorry about the decision. 

Developing Your Basement With Trusted Saskatoon Contractors K & S Contracting - Part 1 of 2

K & S Contracting specializes in foundation repair for homeowners across Saskatchewan. In addition, they also offer general contracting services to Saskatoon and the surrounding area. In their latest Trusted Saskatoon tip, K & S Contracting, Trusted Saskatoon General Contractors, and foundation specialists, discuss what you should consider when developing your basement. This will be a 2 part article.

DEVELOPING YOUR BASEMENT - PART 1

Many basements are little more than a place to collect cobwebs and store stuff. However, fixing a full-height basement can increase the usable living space in your home at a lower cost than adding on. Basements can be turned into any one of several living areas: bedrooms, rec room, or office space. 


Changing a concrete dungeon into an inviting living area can be a challenge, and not every basement is great for finishing. Some of the things you need to think about are building codes, moisture, low-hanging drain lines, ductwork and wiring, and your walls and floors. Although you can do some of the work yourself, it will save you time, money and headaches, if you contact K & S Contracting to help you with the project.



MEETING BUILDING CODES 

Building codes vary, but generally, a basement must be 7 feet tall. Codes can permit lower obstructions if you have structural beams that can’t be moved. Connect with a local home inspector while you are in the planning stages and they can help you determine what you need to be within the National Building Codes. Once you determined what your basement will be used for, you must make sure it includes doors and windows for emergency escape.
 

MOISTURE

If your home has a history of flooding, you need to fix that problem before developing the basement. 2 inches of rain falling on a 2,000 sq ft home produces approximately 2,600 gallons of water.  Repairing cracks in the foundation, making sure that gutters are clear of clogs and sloping the ground away from the house can solve some of these flooding problems.  


LOW-HANGING UTILITY LINES

When you are building a new home, the basement ceiling height and utilities can be planned accordingly. However, when renovating an older area, water lines, air ducts, bathroom and kitchen drains etc are generally smack in the middle of where the renovations are happening. There are a few choices. Move them, box them in or leave them as is. If you decide to tuck water and drain lines out of sight, don’t block access to water shutoffs and drain clean-outs. 


FINISHED WALLS AND FLOORS 

Hiding concrete or block behind new walls is the easy part. Building walls that won’t encourage mold and mildew, or be damaged by condensation, is a lot harder. Because concrete in contact with the ground is always cool, it can become a condensing surface for water vapour in the warm air escaping from a finished basement. The result? Damp building materials, mildew and, eventually, rot. Air will be musty, finished surfaces ruined. 

When it comes to flooring, just about any material will work — tile, carpet, vinyl or laminate. Few contractors recommend traditional hardwood flooring because the moisture in the concrete can cause the wood to swell and buckle. 

When trying to make the decision to develop your basement, we recommend you call Steve and ask him to provide you with your options and costs. Check out Developing Your Basement – Part 2 in next month’s blog and Steve will talk about lighting, windows and ventilation. 

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