B.C. urges federal government crackdown on real estate tax cheats

Several critics are joining the B.C. government in urging Ottawa to crack down on tax cheaters and toughen existing rules, after a Globe and Mail investigation uncovered possible tax evasion and fraud by real estate speculators in Vancouver’s overpriced market.The province’s Finance Minister called on the Canada Revenue Agency Saturday to “diligently” enforce the law, indicating he will pressure his federal counterpart, Finance Minister Bill Morneau, to make improvements.

On Sunday, Mr. Morneau’s office referred all questions to the Canada Revenue Agency. The Globe also asked to speak to the minister responsible for the CRA, Diane Lebouthillier, but she was not available.Read more: Vancouver real estate speculators taking advantage of loopholes and lax oversightThe Globe investigation revealed how real estate speculator Kenny Gu paid next to nothing in taxes last year, while millions of dollars flowed through his personal and corporate bank accounts.Documents …
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