Re: 鈥淣o more secrets on who holds property titles,鈥� column, May 14.
It is one thing to require the disclosure of the true 鈥渂eneficial owners鈥� of real estate, as B.C. is now doing. It is another to actually collect the appropriate property-transfer tax, as B.C. should do. Instead, B.C. remains the only province to continue to allow this tax loophole, inexplicably forgoing tens of millions in tax revenue.
B.C. should not only close the bare-trust loophole, but also require the registration of past 鈥渂eneficial owners鈥� with Land Titles and move to collect the millions of outstanding transfer tax owing.
Blaise Salmon
Mill Bay
