23 April 2019 British Columbia Land Owner Transparency Act receives first reading In its 2018-19 budget delivered on February 20, 2018, British Columbia announced a 30-point plan to address the provincial housing affordability crisis and encourage a fairer housing market. On April 2, Bill 23, Land Owner Transparency Act (LOTA), received first reading in the British Columbia legislative assembly. If enacted, the LOTA will establish a registry of beneficial ownership of real property in British Columbia, to be administered by the Land Title and Survey Authority (LTSA). Although the LOTA is not a tax statute, the information contained in the registry it establishes will be publicly available and could be shared with tax and law enforcement authorities to assist in investigations. Document ID: 2019-0813 |
