Yes and I have had 2 clients in the last 6 weeks or so who when applying for loans through mortgage brokers were told to register for an ABN and GST.
They were then told to apply for a low doc loan, stating they were subcontractors instead of employees and that their income was double that of their real earnings.
One application was for a property worth $980,000
But there is no similar sub prime problem waiting to surface here
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