GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Earned Income


Synonyms:dolla, dolla, bills ya'll, making bank, money earned, pay, salary, wage
Filed Under: financial-banking, taxation
Tags: banking, taxes
 

Definition of earned income

earned income
1. All the money you earn. This includes any wages, salaries, tips, net earnings (if you're self-employed) and any other income received for personal services. Investment income, such as dividends and interest, is not counted as earned income. See also "Unearned Income."

Related Terms and Acronyms:

  • active income   Active income refers to wages, tips, and profits from your business or employment that you partake in. It also includes portfolio income such as interest and dividends, but you cannot usually offset active income with passive losses.
  • before-tax income   Earnings before income taxes are paid.
  • household income (HHI)   The total income of all members of a household.
  • investment income   Income that is earned from investments such as interest, dividends, and capital gains.
  • mixed-income housing   A neighbourhood whose residents earn widely varying wages and salaries.
  • net income (NI)   The difference between effective gross income and expenses. The term is qualified as net income before depreciation and debt.
  • ordinary income   Income that does not qualify as a capital gain including wages, interest, dividends, and net income from a business.
  • personal disposable income   Personal income minus personal income tax payments. Also called "take-home pay."
  • profit   When revenues exceed expenses.
  • unearned income   Income such as interest, dividends, capital gains or rents, as opposed to earned income, such as wages, tips and salaries.

More Related Terms and Acronyms

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