Real estate registry proposed by B.C. NDP Government. (Darren Calabrese/The Canadian Press)

B.C. creates public registry to track real estate owners

The first registry of its kind in Canada aims to end the hidden property ownership

The B.C. government is looking to launch a new registry, open to the public, that will list anyone who owns real estate in the province.

The registry, a first in Canada, aims to end the hidden ownership of property.

Finance Minister Carol James said Wednesday the registry will give tax auditors and law enforcement agencies information needed to fight tax evasion, tax fraud and money laundering.

“British Columbia has developed a reputation as an attractive place to anonymously invest and hide wealth. Right now in B.C., real estate investors can hide behind numbered companies, offshore and domestic trusts, and corporations,” James said.

The proposed legislation is part of a report that includes the draft of the land owner transparency act, which could authorize the collection of beneficial ownership information, as well as the creation and administration of the public registry.

The public can share feedback on that report until Aug. 19.

Other plans include introducing a new law to track pre-sale condominium contract assignments, sharing information on the homeowner grant with federal tax officials, and establishing a federal-provincial working group on tax fraud and money laundering.

Just Posted

Comedians to share laughs to help Kelowna school

Fundraiser begins effort to replace $20,000 stolen from South Rutland Elementary PAC

Rockets’ Erik Gardiner retires from hockey

Gardiner steps away from hockey for health and personal reasons.

Peachland’s doctors moving out of the district

All the doctors at Beach Avenue Medical Centre are leaving

Kelowna man catches mysterious chicken killer on camera

Rod Tribiger wanted to find out what was killing his chickens

First Nation supporters march to Horgan’s MLA office

Dozens marched across the Greater Victoria community of Langford to support the Wet’suwet’en people

Truck hauling compressed gas for ‘virtual pipeline’ crashes on B.C. highway

Driver charged and highway closed for nine hours - containers did not rupture

Thieves steal thousands from 140 Coast Capital Savings members

Online fraud tactics included phising and ‘brute force’ in November and December

Condo rental bans may be on way out with B.C. empty home tax

Many exemptions to tax, but annual declarations required

B.C. boy, aunt missing for three days

The pair are missing from Kamloops

MP’s Report: Canada’s changing tax rates since 2000

Central Okanagan-Similkameen-Nicola MP Dan Albas looks at how income tax rates have changed

Canucks rookie Elias Pettersson ‘feeling good’ after knee injury

Pettersson said he wasn’t feeling any pain during Wednesday’s skate

Kentucky canoe outfit borrows photo of Trudeau family to market business

They are in a red canoe, all clad in life jackets, and Sophie Gregoire Trudeau and Ella-Grace are waving

MP’s Report: Canada Summer Jobs deadline looms and recognition for veterans

Kelowna-Lake Country MP Stephen Fuhr says deadline for Canada Summer Jobs program is approaching

Most Read