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.
What is 'Ordinary Income'. Ordinary income is composed mainly of wages, salaries, commissions and interest income from bonds, and it is taxable using ordinary income rates. This type of income differs from capital gains in that it can only be offset with standard tax deductions, while capital gains can only be offset with capital losses.