Extended Deadline for filing Transparency Report under Land Owner Transparency Act

On November 2, 2021, the Government of British Columbia, Ministry of Finance announced that the filing deadline for the Land Owner Transparency Act, transparency report has been extended one year, from November 30, 2021 to November 30, 2022 for pre-existing owners of real estate in British Columbia.

The penalties for failing to file a transparency report, up to $25,000 for an individual or $50,000 for a corporation, or 5% of the assessed value of the property, whichever is greater, will now only apply to owners who have not filed a transparency report by November 30, 2022.

If you would like Bell Alliance LLP to prepare and file your transparency report, please fill out our secure online form or email us at lota@bellalliance.ca. Given the large amount of inquiries which we have received, we will deal with any further inquiries after November 30, 2021. If you have already engaged Bell Alliance LLP to prepare and file your transparency report, we will continue to complete your transparency report.