Revenue Canada crackdown on real estate Tax Cheats (because home prices are hiked by foreign money)?

CRA employee leaked a slideshow outlining a planned crackdown on high-end homeowners with minimal incomes with a promise of 50 extra income auditors, plus 35 other staff on the B.C. real estate project.

A federal crackdown on tax cheats in Vancouver’s sizzling housing market — which is acting like a flame to speculators, real estate predators and foreign cash flow — has critics calling on B.C. to demand Ottawa do more to help combat the “out-of-control” real estate market.

Apparently, Vancouver, Toronto Home Prices Being Hiked By Foreign Money, According to BMO

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CRA leak about crackdown on BC real estate tax cheats heats debate

CBC.ca – Jul 15, 2016
A federal crackdown on tax cheats in Vancouver’s sizzling housing market – which is acting like a flame to speculators, real estate predators and foreign cash flow – has critics calling on B.C. to demand Ottawa do more to help combat the “out-of …
CRA plans ‘lifestyle audits’ in Vancouver as part of real estate probe 
Canada launches tax probe of property cheats in Vancouver 
CRA ups its game targeting property cheats in new campaign 

CRA prepares to look intoVancouver real estate deals involving unreported foreign income: Hong Kong newspaper

News1130 – ‎Jul 13, 2016‎
Fifty Canada Revenue Agency (CRA) auditors are headed our way, according to documents leaked to Ian Young, the Vancouver correspondent for that newspaper.
INTERVIEW: Ian Young on the secret tax crackdown onVancouver’s foreign-money real estate deals 
Leak reveals secret tax crackdown on foreign-money real estate deals in Vancouver 

‘Secret Tax Crackdown’ Coming To B.C. Real Estate: Report

Huffington Post Canada – ‎Jul 14, 2016‎
The Canada Revenue Agency (CRA) is planning a crackdown on real estate-related tax cheating in Vancouver, according to a report in a Hong Kong newspaper.
Canada Revenue Agency launches Vancouver housing probe 
Vancouver housing: After dragging heels, Feds plan crackdown on tax cheats 

Vancouver, Toronto Home Prices Being Hiked By Foreign Money, BMO Says

Huffington – Jul 15, 2016
“The massive surge in risky debt being taken on by Canadian households illustrates that the housing bubble can’t be blamed on cash purchases by foreign investors,” he said.

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