Real Estate

BC government plans to expose real homeowners

  • Last Updated:
  • Feb 21st, 2018 6:54 am
[OP]
Deal Addict
Jan 2, 2015
1610 posts
613 upvotes
Toronto, ON

BC government plans to expose real homeowners

In its Tuesday budget, B.C. announced it will become the first province to require those behind landowning numbered company to reveal their names.
Link: https://www.thestar.com/news/canada/201 ... ities.html

I hope it works, but I suspect the process will be filled with loopholes.
B.C. will only require numbered corporations in the province to keep information on the identities of its true owners on hand, so it is available should the authorities ever ask for it.
Like that one :(
8 replies
Deal Addict
Dec 23, 2010
1897 posts
929 upvotes
Moon
The government war on real estate has just begun. Rule #1 in investing: Don't own an asset the government hates.
Deal Guru
Feb 9, 2009
11258 posts
9750 upvotes
Applesmack wrote: The government war on real estate has just begun. Rule #1 in investing: Don't own an asset the government hates.
Yet the govt relies so heavily on for taxes -- land transfer taxes, property taxes, FBT, the thousands of people employed in various sectors related to RE, etc.
Deal Addict
Dec 23, 2010
1897 posts
929 upvotes
Moon
Sanyo wrote: Yet the govt relies so heavily on for taxes -- land transfer taxes, property taxes, FBT, the thousands of people employed in various sectors related to RE, etc.
They want real estate around they just don't want price increases I guess. Also if the government wants to raise money with taxes they can just hike taxes. They don't depend on real estate price growth.
Deal Guru
Feb 9, 2009
11258 posts
9750 upvotes
Applesmack wrote: They want real estate around they just don't want price increases I guess. Also if the government wants to raise money with taxes they can just hike taxes. They don't depend on real estate price growth.
Sure they can hike taxes as RE drops -- let's see what that does to consumer confidence and the economy

Hint-- it would not be good...
Member
Feb 13, 2018
495 posts
532 upvotes
Sanyo wrote: Sure they can hike taxes as RE drops -- let's see what that does to consumer confidence and the economy

Hint-- it would not be good...
the house price is so out of whack, the economy is funded by HELOC and loans, the sooner the market rationalize the better. RE can drop 30% and still what.. back to 2 years ago price? It will be better for many.
Deal Guru
Feb 9, 2009
11258 posts
9750 upvotes
rfdchan wrote: the house price is so out of whack, the economy is funded by HELOC and loans, the sooner the market rationalize the better. RE can drop 30% and still what.. back to 2 years ago price? It will be better for many.
Maybe time for the govt to cut back their spending first...
Deal Expert
Jan 27, 2006
17149 posts
9881 upvotes
Vancouver, BC
Sanyo wrote: Maybe time for the govt to cut back their spending first...
With the NDP? The budget was a classic tax and spend budget. They put in just enough for housing to say that they are doing something but then offset that with widening the tax base and increasing taxes (ie. expanding the FBT and increasing it) to compensate for any small reduction in the market that these measure might do.
Deal Addict
User avatar
Dec 13, 2016
3747 posts
3253 upvotes
What do you mean "expose" the homeowners?

I don't think even in Nazi Germany they were "exposing" the homeowners.

I think the lawsuit is in order.

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