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Investments qualifies for tax reduction strategy

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Reference no: EM133089348

Harold is planning to take out a loan to purchase an investment so he can use the interest he pays on his loan to reduce his personal income taxes. Which of the following investments qualifies for this tax reduction strategy?

a) Shares purchased on the New York stock market in a corporation based in the United States.

b) A 5-acre lot in rural Ontario, which he intends to camp on and sell in 10 years, hopefully, for a profit.

c) A beach house in Aruba, which he intends to rent out.

d) A Guaranteed Investment Certificate from a Canadian life insurance company.

Reference no: EM133089348

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