GIFTED DEPOSIT MORTGAGES. A gifted deposit is a sum of money given to you by a third party as a deposit on a property. There are currently five options currently available for gifted deposit mortgages. These are available on residential and Buy-to-Let purchases.
Assessable income is the income we use to work out your payment rate. If you have a partner, we take both of your incomes into account. Examples of assessable income include: deemed income from financial investments, including money in superannuation funds if you have reached age pension age.
See this post for a checklist of what is included in assessable income. Even though it is assessable, tax may not be payable if the income for the year ended 30 June is less than the appropriate tax-free threshold. See this post for details of the Tax Free Threshold and various rates tables that can apply to income. A quick list of examples of assessable income are: salary and wages.