Which of the following statements about ‘Property Taxes’ (in NSW) and ‘Property Strategies’ according to the material covered in the lecture are TRUE:

1. Your main residence is usually exempt from capital gains tax (on the increase in price) if it has been your main residence for the entire period, is on land of 2 hectares or less, has not been used to produce assessable income and you are not a foreign resident.
2. Under the ‘6 year rule’, it is possible under some circumstances for someone to still declare a property to be their ‘main dwelling’ even though they are living somewhere else under some circumstances.