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Which of the following statements about 'Property Taxes' (in NSW) and 'Property Strategies' according to the material covered in the lecture are TRUE: 1. An
Which of the following statements about 'Property Taxes' (in NSW) and 'Property Strategies' according to the material covered in the
lecture are TRUE:
1. An individual buys an investment property for $1 million that consists of a house built on 550 square meters of land. Land tax is
normally payable on the difference between the market value of the property ($1 million in this case) less the relevant land tax free
threshold.
2. Lenders Mortgage Insurance is a fee payable if you borrow more than 80% of the value of a property. The insurance will pay your loan
payments on your behalf if you temporarily lose your job or have an accident or illness that prevents you from working.
C
Neither of the statements are true (both are false)
Only statement 1 is true
Only statement 2 is true
Both statements are true (neither are false)
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