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1,500 Aussie first-home-buyer scheme properties converted to investments
Australia's government 5% deposit scheme for first home buyers has enabled nearly 1,500 property purchases that were later converted into investment properties, new data reveals. Hundreds of borrowers earning over $300,000 annually benefited from the scheme, including one couple earning $674,000 a year. Labor removed the income exclusion for high earners, raising questions about the programme's intent.
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