(3)
Develop Critical Thinking Skills
(A) Understand the Facts
Matching
1.
Annual rent for land
a.
for a period expiring
leases extended
not later than 30.6.2047
after 30.6.1997
2.
British HK
b.
Government's
to be put in the Capital Works Reserve Fund
share of land income
3.
HKSAR Government's
C.
share of land income
4.
Land Commission
d.
5.
Extension of land leases
e.
to be deposited in banks incorporated in HK
to conduct consultations on the implementation of the Joint Declaration Annex III (Land Leases)
3% of the rateable value of the property at that date, adjusted in step with any changes in the rateable value thereafter
(B) Think it Through
(1)
Mr. Chan wishes to buy a flat in the New Territories. He likes the flat very much, but before he pays the deposit, he seeks the advice of his friend, Joe.
Read the advice given by Joe and then answer the questions that follow.
"You shouldn't buy this flat as it is in the New Territories. In 1997, when the leasehold expires, you will have to pay a premium which may be four or five times the market value of your flat at that time. Moreover, you will have to pay an annual rent equivalent to 3% of the rateable value of your flat."
(a) Joe has given some pieces of incorrect information in his advice. What are they? Explain why you think they are incorrect?
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