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This is not the 'Good for Summerside Tax'!!
The Goods and Services Tax (5% of the transaction value), when it comes to real estate, is complicated and can be expensive.
If you are buying or selling a used residence, the tax probably does not apply.
If you are buying or selling more than one acre of land, the tax may apply, especially if you used the land to earn income.
If you are buying/selling a used residence on 10 acres, the GST people regard this as 2 separate transactions for GST applicability purposes. Let's say the total purchase price is $150,000.00 and $125,000.00 has been agreed to apply to the used residence and one acre of land. Well, GST won't apply to that $125,000.00 value. If the balance of the land, 9 acres, has been used primarily to earn income, it is very likely GST will apply to the balance of the value, $25,000.00. It makes a difference if the tax is included in or in addition to this amount; just do the math yourself and see how much you may be out of pocket.
It is up to you to get accurate information before signing a document that commits you to a course of action you may not otherwise have taken.