B.C. government takes step to crack down on tax evasion in real estate

Taking aim at tax evasion in real estate, the B.C. government has announced new rules requiring property buyers to disclose more information when they make a purchase through a corporation or trust. 

Beginning Sept. 17, 2018, purchasers will have to report the following additional information on their property transfer tax return. 

Name Date of birth Citizenship information Contact details Tax identification numbers (such as social insurance number)

“These changes give authorities another tool to make sure people are paying the taxes they owe,” said Finance Minister Carole James. 

According to the province, these changes are part of their 30-point plan for