National revenue minister asks CRA to investigate B.C. real estate speculators

B.C. Finance Minister Mike de Jong has said the CRA must be diligent in enforcing the law in order to maintain the confidence of taxpayers.

Vancouver, Vancouver real estate, Vancouver housing market, donthave1million
Concerned Vancouver residents (left to right) Meena Wong, Justin F., Jennifer Lloyd, Brett Carels, and Serge Biln push for more affordable housing at a community meeting on Wed. March 16, 2016. Photo by Elizabeth McSheffrey.

OTTAWA — National Revenue Minister Diane Lebouthillier has asked the Canada Revenue Agency to look into the actions of real estate speculators in B.C. following a newspaper investigation.

The Globe and Mail reported on the weekend that some foreign investors allegedly profit in buying homes in B.C. while evading taxes.

The federal minister says she is concerned by the allegations and has asked the CRA to look into them.

The request by Lebouthillier follows comments by B.C. Finance Minister Mike de Jong, who said the CRA must be diligent in enforcing the law in order to maintain the confidence of taxpayers.

De Jong says the 15 per cent tax on foreign homebuyers introduced in Vancouver last month was intended to address some of the issues raised in the Globe and Mail story, but did not specify whether the government would be taking any new actions.

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