Canadian Lawyer

w w w . C A N A D I A N L a w y e r m a g . c o m J A N U A R Y 2 0 1 8 13 especially if there is a question about the credibility of the vendor or the country where the affidavit is coming from. "What is the level of due diligence expected of lawyers and buyers when attempting to establish the truth of a statement?" he asks, adding that guide- lines from the ministry would be helpful. Mike Stewart of ATAC Law says it has not been common practice of purchasers to confirm the residency status of a ven- dor or their status under Canada's Income Tax Act. "I don't think anyone is confirming it," he says of property purchasers he had dealt with prior to the new form. Stewart says ultimately the client who signs the document carries the responsi- bility for ensuring that the information is correct. "It is the purchaser making the repre- sentation," he said. But, like Bell, he would like guidelines for advising clients. "We need to know what a reasonable effort is." Bell believes more collaboration between government, lawyers and real- tors would be beneficial when new regu- lations are brought forward so that more robust guidelines exist. Bell says there has not been a great deal of information sharing between the various levels of government regarding real estate transactions and applicable taxes, which has made it difficult to chase those who defraud the government. The forms are now filed electronically by law- yers and provides for greater information sharing on realty transactions. "We were already required to obtain some of the information," says Charlie Anderson of the Granville Law Group, noting there is already a sharp focus on foreign buyers and B.C.'s 15 per cent addi- tional transfer tax charged in the Metro Vancouver area. "But, we kept [the infor- mation not on the form] in our office." The new forms are a merging of that office information onto one form. "It is expanded information gathering." "On the whole I think it is a good thing," Anderson says. The B.C. Ministry of Finance has an online information sheet which sets out the new sections and rules that apply on PTT (v.29). The new form asks for more information on buyers and sellers includ- ing their birth dates, description of the property, status, whether the property is a principal residence and contact informa- tion for verification of information (not the lawyer's office). Ministry information provided to the legal profession states that to estab- lish Canadian citizenship or permanent residence, documents must include a SIN number or other government docu- ments such as a valid Canadian passport, citizenship certificate, birth certificate, CRA assessment notice or T4 slip. Invalid social insurance numbers or discrepan- cies can lead to an audit and investigation of the transaction, according to ministry information. — JEAN SORENSEN \ AT L A N T I C \ C E N T R A L \ P R A I R I E S \ W E S T REGIONAL WRAP-UP OSGOODE'S PART-TIME PROFESSIONAL LLM DON'T JUST PRACTICE LAW. MASTER IT. Immerse yourself in a rich learning environment with highly engaged and inspiring peers who are as passionate about what they do as you are. Apply by May 9th Start in September Choose from 10 specializations: · Administrative Law · Business Law · Constitutional Law · Dispute Resolution · Energy & Infrastructure Law · Health Law · Intellectual Property Law · Labour Relations & Employment Law · Securities Law · Tax Law Canada's leading Professional LLM for lawyers, executives and experienced professionals Learn more about your options at osgoodepd.ca/cdnlawyer Outside Toronto? Most streams can be completed remotely. Melanie Toolsie, LLB, LLM Legal Counsel, Department of Justice, Canada ntitled-6 1 2017-12-13 12:52 PM

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