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October 7, 2020
2020-2409

British Columbia Land Owner Transparency Act takes effect

British Columbia filed a regulation on September 30, bringing into force the Land Owner Transparency Act (LOTA), beginning November 30. The LOTA establishes a registry of beneficial ownership of real property in British Columbia, administered by the Land Title and Survey Authority (LTSA). The first transparency reports required from preexisting owners of land must be filed by November 30, 2021.

A Tax Alert prepared by Ernst & Young Canada, and attached below, provides additional details.

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Full text of Tax Alert

 

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