Thank you, Chair.
This question is for the commissioner, but perhaps the Auditor General's office might want to take heed if it hasn't been looked at in this round.
My riding is Surrey Centre. I'm from British Columbia, from Vancouver, where high home prices are a huge factor. A lot of media reports have been focusing on offshore money coming in and homes worth millions and millions of dollars being bought by students, housewives, etc., with no significant taxable income.
I see you've been doing a lot of audits on a lot of the larger corporations, the multinationals. However, a study done by the provincial government a few years back showed almost $1 billion a month coming into the country just in residential real estate in the Lower Mainland. That wasn't even commercial. It wasn't outside of greater Vancouver. It was simply residential real estate. I think it was over $10,890,000,000 a month that was coming in—astronomical numbers.
Has the CRA office looked into net worth audits or audits of that nature, and how many have they done? Have they recovered any funds from those audits?
I'm not saying in a stereotypical manner that anyone bringing in offshore money is bad; it's those who are not reporting their incomes and not legally bringing in those funds that I'm particularly concerned about.