Mr. Speaker, the government recognizes the importance of ensuring a fair housing market for all Canadians. That is why the Canada Revenue Agency has increased audits of real estate transactions in British Columbia and Ontario.
Since October 2015, these audits have resulted in more than $794 million in unreported assessed income. Budget 2019 announced a $50-million investment that will help the CRA step up its efforts by creating four new dedicated real estate audit teams.
Let me be very clear that tax cheats cannot hide anymore.