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.
If your countable income for eligibility is less than the limit for your family, you are eligible for CalWORKs. The limit is called a âneeds standardâ or âMinimum Basic Standard of Adequate Careâ (MBSAC). The MBSAC varies based on your family size and where you live. See the MBSAC for different situations.