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

Kelowna’s definitive Christmas market list

We’ve prepared a list of every market in the Central Okanagan

Festival of Trees returns to West Kelowna’s Mission Hill Winery

The fundraiser for the B.C. Children’s Hospital Foundation will run Nov. 23 to Jan. 4

Proportional representation vote continues to draw low numbers

Only 6.5 per cent of eligible voters have cast ballots so far in B.C. referendum

Kelowna Skating Club skaters take home 10 medals and three provincial titles

Ava Sanderson was among the winners of the 2019 B.C and Yukon Sectional Championships

Kelowna to host World Junior pre-tournament game

Team Russia will take on Team Sweden at Prospera Place on Dec. 18

Your weekday weather update

Flurries and more rain anticipated for the Okanagan - Shuswap

Protesters confront Environment Minister in B.C.

Protesters wanting more for killer whales confront Catherine McKenna

Humans reshaping evolutionary history of species around the globe: paper

University of British Columbia researcher had the paper published in the Proceedings of the Royal Society

Toronto ‘carding’ activist Desmond Cole stopped by police in Vancouver

Cole says his experience reveals what daily life is like for black and Indigenous residents

Commercial trucks banned from left lane of Coquihalla

B.C.’s Ministry of Transportation has introduced a new program that hopes to prevent accidents and closures on the Coquihalla Highway.

B.C. on track to record same number of overdose deaths as last year

128 people died of overdoses in September, bringing the total to more than 1,100 so far in 2018

Okanagan pickleball pair win bronze at nationals

Vernon and Kelowna players reach podium in California

B.C. firefighters rescue horse stuck in mud

‘It happens more often than you’d think,’ says deputy chief

Couple allegedly caught staking out Okanagan home

The man and woman were seen in a black Suzuki Tracker with a white back

Most Read