Parties: RC Limited Partner Inc. (Appellant) vs. His Majesty the King in Right of the Province of British Columbia (Respondent)
Originated from the dismissal of a statutory appeal under the Property Transfer Tax Act concerning the "Foreign Buyer’s Tax."
RC Limited Partner Inc., resulting from the amalgamation of 1041459 B.C. Ltd. and AP Six Holdings Ltd., was assessed for additional property transfer tax due to the amalgamation involving residential property controlled by a non-Canadian citizen, thus considered a "foreign entity."
Facts of the Case:
The amalgamation led to RC applying for a change in the registered owner's name for the property, triggering a tax assessment of $1,629,200 based on the property's market value.
RC’s challenge centered on whether the amalgamation and subsequent name change application constituted a "transfer" of land making it liable for the "Foreign Buyer’s Tax."
Issues/Main Discussion:
The central issue was the statutory interpretation of "transferee" within the Property Transfer Tax Act, specifically if RC, as an amalgamated entity applying for a name change in land title, could be considered a "transferee" liable for the Foreign Buyer’s Tax.
Ruling:
The appeal was dismissed. The court upheld the lower court's interpretation that the legislative intent was clear in subjecting such transactions to the Foreign Buyer’s Tax, affirming that RC was indeed a "transferee" under the act.
Amount Awarded:
The court upheld the tax assessment of $1,629,200 against RC Limited Partner Inc. for the Foreign Buyer’s Tax.
