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.
You are liable to pay income tax if you earn more than: For the 2015 year of assessment (1 March 2014 - 28 February 2015). 1  R70 700 if you are younger than 65 years. 2  If you are 65 years of age or older, the tax threshold (i.e. the amount above which income tax becomes payable) increases to R110 200. 3  For taxpayers aged 75 years and older, this threshold is R123 350.