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

HIGHLIGHTS: Another record-breaking night for Vancouver Giants

G-Men registered a record 71 shots in a 6-2 home triumph over Swift Current Tuesday in Langley.

Puff, puff, pass: Cannabis is officially legal across Canada

B.C. has only one bricks-and-mortar marijuana store

First-time Langley mayor’s gala raises $856,000

Final numbers are in for last month’s gala – $856,000 raised, $600,000 of which goes to hospital.

Langley ‘Gala’ helps fund ER expansion

Langley Mayor’s Gala raises $600,000 for Langley Memorial Hospital expansion

Young Giants make Worlds

Two forwards from the Langley-based WHL team were picked today to represent Canada.

VIDEO: How to roll a joint

The cannabis connoisseur shares his secrets to rolling the perfect joint

Harry and Meghan bring rain to drought-stricken Outback town

Prince Harry and his wife Meghan are on day two of their 16-day tour of Australia and the South Pacific.

Demand for legalized cannabis in early hours draws lineups, heavy web traffic

Government-run and privately operated sales portals went live at 12:01 a.m. local time across Canada, eliciting a wave of demand.

5 to start your day

Pot is legal across Canada but no pot shops in many Lower Mainland cities

Killer-rapist Paul Bernardo set to make parole pitch today

Paul Bernardo, whose very name became synonymous with sadistic sexual perversion, is expected to plead for release on Wednesday.

Hero campaign raises $1.1 million for Canada non-profits

Lowe’s Canada Heroes campaign was held throughout September

Scope of Hurricane Michael’s fury becomes clearer in Florida Panhandle

Nearly 137,000 Florida customers remain without power from the Gulf of Mexico to the Georgia border

Streamlined pardon process for pot possession convictions in Canada

Feds say legalization is first step towards objectives of getting pot out of the hands of kids and eliminating black market

Boeser tallies in OT as Canucks beat Penguins 3-2

Vancouver wins without star rookie Pettersson

Most Read