Enforcement of LOTA
The Government of BC will be enforcing compliance of the Land Owner Transparency Act (LOTA). A person that fails to file a transparency report or provides false or misleading information in a transparency declaration or a transparency report may be liable to a fine of not more than the greater of:
- $50,000 for a corporation, or $25,000 for an individual; OR
- 15% of the assessed value of the property to which the transparency declaration or transparency report relates.
Other offences may be liable to a fine of up to $100,000 for corporations and $50,000 for individuals.