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

Four companies vying to open cannabis stores in locations across Chilliwack

Rezoning applications for non-medical cannabis outlets pending, and some will require variances

Christmas cheer, crafts and music at Chilliwack and Yarrow libraries

Make festive ornaments out of old books while enjoying Christmas music at Chilliwack libraries

Fleeing driver picks fight with Chilliwack police dog, loses

Good dog ‘Griff’ also locates large quantity of what police believe to be crystal meth in Abbotsford

Chilliwack company faces charges for 2017 abuse of chickens

CFIA investigation leads to 38 charges against Elite Farm Services and Ontario-based Sofina Foods

Water-filled ditch had pump going to prevent flooding in Chilliwack

City crews monitoring site on Ashwell Road after heavy rain hit Chilliwack Wednesday

Tommy Chong says Canada took wrong approach to pot legalization

He also talked about the likelihood of another Cheech and Chong film

ICBC to apply for 6.3% hike to basic insurance rates

Crown Corporation said it will be submitting its next basic rate application to the British Columbia Utilities Commission Friday

Vancouver says court decision allows it to close illegal pot shops

The city says it filed 53 injunctions against businesses that were operating outside its regulations,

Stranded B.C. trucker writes final wishes before being rescued 3 days later

‘I was just praying someone would come along’

Dress like Santa to ski for free in Whistler

Nearly 90 centimetres of snow has fallen since Wednesday, with more expected into the weekend.

Kazakstan’s U20 team takes 4-3 win over Lower Mainland university squad

Thursday night’s game is one of four the visitors are playing at the Langley Events Centre.

Fashion Fridays: How to change your beauty routine

Kim XO, lets you in on her style secrets each Fashion Friday on the Black Press Media Network

‘Both things are true:’ Science, Indigenous wisdom seek common ground

Reconciliation between Canada and First Nations is playing out not only in legislatures and courtrooms but in labs across the country

B.C. to move salmon farms out of coastal migration route

Broughton Archipelago plan set to start in spring of 2019

Most Read