3. Toronto housing has become magnet for money launderers, with $28 billion in real...

Toronto housing has become magnet for money launderers, with $28 billion in real estate bought by anonymous owners: study

I'm not saying China is not a problem but how long are we going to put up with the CRA?

All they do is go after waiter's tips like the mafia but then they leave GAPING holes in our tax code for criminals to drive 18 wheelers full of illegal cash through.

The world's finance community even has a name for it. Snow washing. The fact that you can set up a corporate structure to make 7,8,9 digits CASH transactions then have the ultimate beneficiary hidden is fucked on a level that even off shore tax havens never were.

EVERY Canadian should be able to see who owns a property. And if it's owned by company, we should be be able to see a FULL shareholder list. Whenever you create shadows, it's the criminals who will use it.

This register should be online and every time the property is sold, the price should be listed.

/r/canada Thread Parent Link - business.financialpost.com
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