GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
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Unearned Income


Synonyms:residual income
Filed Under: financial-banking, taxation
Tags: banking, taxes
 

Definition of unearned income

unearned income
1. This type of income can include funds that are gained from interest, dividends, investments, or capital gains as opposed to income that is earned by working for a salary, hourly wage, or gratuity.

Related Terms and Acronyms:

  • earned income   Money earned through wages, salaries, tips, net earnings (if self-employed), and any other income received for work or personal services. Investment income, such as dividends and interest, is not counted as earned income.
  • income property   Real estate developed or improved to produce income. Also referred to as "non-owner occupied property" or "rental property."
  • 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.
  • 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."
  • royalty income   Payment for the use and exploitation of certain kinds of property, such as artistic or literary works, patents and mineral rights.

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