On November 2, 2021, the B.C. government extended the filing deadline for the Land Owner Transparency Registry, but it only applies to pre-existing ownership. The new deadline is November 30, 2022, which is 1 year later than the original deadline.
The Land Owner Transparency Act (LOTA) and the Land Owner Transparency Regulation (LOTR) came into effect November 30, 2020, creating the Land Owner Transparency Registry. According to the LOTA and the LOTR, pre-existing owners of interests in land must disclose indirect ownership interests in their land to the Registry. The original deadline for pre-existing owners to make this disclosure was November 30, 2021.
In early November 2021, the B.C. government extended this deadline to November 30, 2022, due to COVID-19 pandemic, and to give pre-existing owners more time to gather the required information to file with the Registry. The government also noted this extension will allow it to offer more support for Registry filings through outreach and education.
It is important to understand that the extension only applies to pre-existing owners of interests in land who are reporting bodies and who owned their land on or before November 30, 2020. All purchasers of land after November 30, 2020, are still required to submit a transparency report to the Registry if the land purchased is held for another interest holder.
This is an update to our previous article on this subject.