About Us
Stormcloude Management Consulting, established in 2008, specializes in handling a wide range of personal and corporate financial and tax related services. Our offerings include, but are not limited to, personal tax filing, corporate bookkeeping, financial statement preparation, payroll services, government subsidy application, bank loan application, GST/HST filing, and corporate annual tax returns. Over the past decade, we have managed thousands of personal tax cases and served numerous small to large enterprises with our professional skills and extensive experience.
Personal Services
Our team is dedicated to providing personalized tax services tailored to individual requirements. Finding a professional accountant and reliable team that can communicate effectively and understand your needs is crucial. Led by Chartered Professional Accountants (CPA), Stormcloude offers personalized tax solutions for students, employees, self-employed individuals, landlords, visitors, accompanying parents, and non-residents with property investments in Canada. Our services include individual tax returns, family joint tax returns, rental income reporting, self-employment income reporting, foreign income reporting, foreign asset reporting, capital gains tax filing, and principal residence exemption claims.
Corporate Services
Running and managing a small business involves numerous responsibilities, from product or service, operations, to finance and tax planning, which require significant time and effort. Additionally, frequent changes in federal and provincial tax policies in Canada make it essential to hire an professional accountant who is up-to-date with the latest information. Our team of experienced Chartered Professional Accountants (CPA) provides corporate bookkeeping, financial statement preparation, government grant financing applications, bank loan applications, payroll services, GST/HST filing, and corporate annual tax returns. We help business owners get funding, save money, reduce taxes, and achieve sustainable profit growth.
Foreign Property Reporting
As a Canadian resident, understanding the tax processes and rules for reporting foreign properties on your tax return is crucial. If you own foreign assets worth over CAD 100,000 at any time during the year, you must declare them when filing your annual tax return. New immigrants are exempt from declaring overseas assets in their first year in Canada but must start reporting from the second year onwards. The deadline for reporting foreign property is April 30th each year. It is important to note that not all foreign assets over CAD 100,000 need to be reported, such as personal use assets like a principal residence, car, jewelry, and certain collectibles are exempt. Investments held in registered retirement savings plans and tax-free savings accounts are also excluded from the specified foreign property reporting.
Real Estate-Related Services
Buying a home or an investment property maybe a significant decision, and tax filing can be complex for new immigrants, first-time homebuyers, or those with rental income. We assist you in handling all tax issues related to buying and selling properties. With the help of our experienced Chartered Professional Accountants (CPA), you can maximize your tax refunds or deductions through various strategies. Our services include new home GST/HST rebates, vacant home taxes (UHT in Canada, VHT in Toronto, EHT in Vancouver) filings, non-resident property sales Certificate of Compliance, 15% non-resident speculation tax (NRST) rebates, non-resident rental income reporting, section 216 election for non-resident, principal residence filing, and investment property disposition or deemed disposition reporting.
