NOTARY PUBLIC VANCOUVER - JEROME TSANG NOTARY PUBLIC & YUN JIN (LUCY) KIM NOTARY PUBLIC
  • Home
  • About Us
  • What we do
    • Real Estate
    • Personal Planning
    • Notarization
    • Apostille
  • Contact Us
  • Projects
  • News & resources

Canada’s first pre-sale register

3/5/2019

 
The British Columbia government has launched the Condo and Strata Assignment Integrity Register (CSAIR) to crack down on tax evasion and improve fairness and transparency in B.C.’s real estate market.  It is widely acknowledged that the practice of pre-sale flipping has been lacking of transparency. It is unknown exactly how many assignment flips occur each year.  This new register will require developers to add or file assignments on new developments. This information will be gathered securely by the developer. The information that must be reported includes identity and citizenship of all parties to the assignment.
Picture
Developers are required to collect and report comprehensive assignment information through the register and file the report quarterly. The first quarterly assignment report, for Jan. 1 to March 31, 2019, is due to government April 30.  The B.C. government will use this information to ensure that people who assign condos are paying the appropriate income tax, capital gains and property transfer tax. Information gathered through the platform will inform future housing and tax policy.

To learn more about this, go to: 
https://www2.gov.bc.ca/gov/content/housing-tenancy/real-estate-bc/condo-strata-assignment-integrity-register

Comments are closed.

    Categories

    All
    Buying A New Home
    Conveyance
    Estate Planning
    Joint Tenancy
    Non-resident
    Personal Planning
    Powers Of Attorney
    Property Transfer Tax
    Real Estate
    Selling
    Tenancy In Common
    Title Insurance
    Vacancy Tax
    Wills

    RSS Feed

Talk to us today!

Hours of Operation

Monday 9:00am to 5:30pm
Tuesday 9:00am to 5:30pm
Wednesday 9:00am to 5:30pm
Thursday 9:00am to 5:30pm
Friday 9:00am to 5:30pm

Saturday Closed
Sunday Closed

Email

[email protected]
Call and Fax
Phone: 604-266-6644 (Eng, 中, 한국어)
Fax: 604-266-6614
Fax: 604-266-6614
Addresss
Unit 205
5704 Balsam Street, Vancouver, BC
​V6M 4B9
Google Us
Picture
Picture
Members of the Society of Notaries of British Columbia

Copyright © 2024 Jerome Tsang Notary Corporation | Jerome Tsang and Yun Jin (Lucy) Kim Notaries Public, Vancouver BC | Notaries of British Columbia | Sitemap

  • Home
  • About Us
  • What we do
    • Real Estate
    • Personal Planning
    • Notarization
    • Apostille
  • Contact Us
  • Projects
  • News & resources