Globe and Mail: Seizures of undeclared cash spike at Vancouver International Airport

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September 9, 2016 | Mike Hager and Kathy Tomlinson

Quoted from the article:

Vancouver MLA David Eby, housing critic for the opposition New Democrats, said he is concerned that the amount of cash seized from Chinese citizens at YVR rose from $2.8-million in 2013 to $6.4-million last year.

“There is an ongoing debate about international money in our real estate market and what the trendlines are,” said Mr. Eby, who made a Freedom of Information request for the airport seizure data, which he provided to The Globe. “You have to look at indicators of the flows of international money and one of those is money that keeps coming into the airport.

“The concern that we’ve had for a while is that there are people buying real estate with money that is not local which hasn’t been taxed locally, which hasn’t been earned locally, which is distorting the market.”

Read the full article: http://www.theglobeandmail.com/news/british-columbia/seizures-of-undeclared-cash-spike-at-vancouver-international-airport/article31787802/