28 Jul 2017
New Canadian banking rules that took effect July 1 are a “game changer” that could help governments in Victoria and Ottawa fight real estate tax scams exploited by foreign buyers, says a prominent B.C. immigration lawyer.
As of July 1, Canadian banks must confirm detailed information on non-resident clients — such as name, address, date of birth and taxpayer identification numbers — in order to report to the Canada Revenue Agency on all financial accounts held by non-residents of Canada.
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