It’s an exciting time – the old house is sold, the new one is ready, and all that’s left is the move…..oh wait – not quite yet! There’s all that legal “stuff” to deal with now….signatures….titles to be given…and pages and pages of documents that need to be signed before the key is in your hand!!! And to top it all off – who really knows a good real estate lawyer?

MacKay & McLean provides the professional services of a large Regina law firm, with the intimate attention of a small firm. The legal process can be daunting and overwhelming, but it doesn't have to be. MacKay & McLean is with you every step of the way.

MacKay &  McLean are TRUSTED REGINA LAWYERS

Here Robert shares a tip on GST & Acreages:

When buying an acreage Canada Revenue Agency (CRA) has an administrative presumption that the land in excess of 1/2 a hectare (1.235 acres) is not reasonably necessary for the use and enjoyment of the building as a place of residence. In otherwords, CRA presumes that the excess land does not form part of the residential complex.

However, a taxpayer may be able to establish that the excess land is reasonably necessary for the residential building to properly fulfill its function as a residence. This requires that the excess land be more than simply desirable.

The prior use of the land is also critical in determining whether G.S.T. will be payable. Where the prior use was residential or maybe used as a hobby farm, then it appears that G.S.T. is not payable. If the prior use of the land was commercial, e.g. farming, then it appears that G.S.T. is payable by the Buyer.