^a τουτο "this" demonstrative determiner is NEUTER so it MUST connect to the OTHER neuter noun in the phrase and not faith because faith is FEMININE so... if Paul was saying "faith is the gift" he would had to have used a FEMININE determiner not a neuter. Further if Paul was referring to 2 things (salvation and faith) he would have used a PLURAL determiner like he did in 1 Cor 6:8 where he uses a pl neuter tauta to refer to BOTH their doing injustice and their defrauding..

^b an alternative translation could be: "for by grace you have been saved by faith and this is not of yourselves, it is the gift of God or and that not of yourselves, it is the gift of God

^a τουτο "this" demonstrative determiner is NEUTER so it MUST connect to the OTHER neuter noun in the phrase which is GIFT (not faith because faith is FEMININE) so... if Paul was saying "faith is the gift" he would had to have used a FEMININE determiner not a neuter

^b an alternative translation could be: "for by grace you have been saved by faith and this gift is of God and not out of you."

^a τουτο "this" demonstrative determiner is NEUTER so it MUST connect to the OTHER neuter noun in the phrase which is GIFT (not faith because faith is FEMININE) so... if Paul was saying "faith is the gift" he would had to have used a FEMININE determiner not a neuter