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

Isn’t it spring? Forecast calling for snow in the Shuswap

Up to 10cm expected within 48 hours; motorists urged to prepare for deteriorating conditions

Rockets confident in position at upcoming WHL draft

The Rockets hold the 5th overall pick at the May 2 draft

Fighting for charity with local boxing club

“Three round heroes” returns to Kelowna’ Los Gatos Locos

Kelowna bike share services up in the air

DropBike may not return to Kelowna, but other services are knocking at the door

Coming together in Lake Country for Wounded Warriors Day

Oyama Zipline Adventure Park teams with the Okanagan Chain Gang to raise money for WWC

VIDEO: B.C.’s waving granny gets incredible send-off from school kids

Tinney Davidson has been waving at students on their way to school for over 11 years, but is moving in a month

Be wary of robot emotions; ‘simulated love is never love’

Research has shown that people have a tendency to project human traits onto robots

Osprey camera goes live in the South Okanagan

Ospreys are flying back to nest in Osoyoos for the summer

Vernon Have a Heart Radiothon returned

The fundraiser received $57,060.70 Thursday for VJH maternity ward.

Foodie Friday: Hero Burger and salad at Burger 55

Owner/operator Ronald Bee serves up his favourite burger to make at the Penticton eatery

One million recyclable bottles ‘lost’ daily in B.C., foundation says

387 million beverage containers didn’t make it back into the province’s regulated deposit refund system in 2017

Okanagan city hosting mascot battle

Vernon’s Mascot Games has nine Canadian, three U.S. mascots competing in events and raising money

Memorial bench for young South Okanagan woman who died was stolen

Someone stole the stone bench that was placed at a walking bridge across the creek

Most Read