Sick pay, if included in your Gross Income, is deducted in arriving at Adjusted Gross Income.

If your sick pay is not included in your Gross Income, you may not deduct it.

This is one reason these valuation methods are formally referred to as the Discounted Future Economic Income methods.

Nowadays, many consider computer software to be a form of fixed capital and it is counted as such in the National Income and Product Accounts of the United States and other countries.

Income inequality refers to the extent to which income is distributed in an uneven manner.

The International Accounting Standards Board ( IASB ) uses the following definition: " Income is increases in economic benefits during the accounting period in the form of inflows or enhancements of assets or decreases of liabilities that result in increases in equity, other than those relating to contributions from equity participants.

* 1942 – The Australian Federal Government becomes the sole collector of income tax in Australia as the State Income Tax is abolished.

* Is less effective than other methods ( e. g. the Earned Income Tax Credit ) at reducing poverty, and is more damaging to businesses than those other methods.

It is handled by the Indian Income Tax Department.

It is investigated by the Indian Income Tax Department.

It is calculated by taking a measure of all sources of income in the aggregate ( such as GDP or Gross National Income ) and dividing it by the total population.

Income maintenance is based in a combination of five main types of program:

Trinidad and Tobago is one of the wealthiest and most developed nations in the Caribbean and is listed in the top 66 High Income countries in the world.

Income subject to tax is determined under tax rules, not accounting principles, and includes almost all income from whatever source.

I do not hesitate to affirm that an effort should now be made to attain this advantage, nor to declare that, according to my judgment, it is in present circumstances practicable ... we ought not to aid the rates, and remove the Income Tax, without giving to the general consumer, and giving him simultaneously, some marked relief in the class of articles of popular consumption ... I for one could not belong to a Government which did not on every occasion seek to enlarge its resources by a wise economy.

In the United States, under the Employee Retirement Income Security Act of 1974, any reduction factor less than or equal to the actuarial early retirement reduction factor is acceptable.

It is the combination of " Life Expectancy Index ", " Education Index " and " Income Index ".

Income is often generated through the retail of their products and services and recycled to improve everyone in the community.

Income is at the equilibrium level for a given interest rate when the saving that consumers and other economic participants choose to do out of this income equals investment ( or, equivalently, when " leakages " from the circular flow equal " injections ").

In the U. S., disability benefit is provided within the category of Supplemental Security Income, and in Canada, within the Canada Pension Plan.

Investment is often modeled as a function of Income and Interest rates, given by the relation < var style =" font-family: serif ; font-size: 1. 1em ;"> I </ var > = < var > f </ var >(< var > Y </ var >, < var > r </ var >).

* Income elasticity of demand can be used as an indicator of industry health, future consumption patterns and as a guide to firms investment decisions.

These weights are usually based upon expenditure data obtained from expenditure surveys for a sample of households or upon estimates of the composition of consumption expenditure in the National Income and Product Accounts.

According to the Permanent Income Hypothesis, permanent consumption, C < sub > P </ sub >, is proportional to permanent income, Y < sub > P </ sub >.

Figure4: Income – consumption curve for perfect substitutes

Figure 5: Income – consumption curve for perfect complements

In national accounts such as the United Nations System of National Accounts ( UNSNA ) or the United States National Income and Product Accounts ( NIPA ), gross value added is obtained by deducting intermediate consumption from gross output.

“ Income conventionally is defined as the sum of consumption and any change in net worth.

Using a variety of data including U. S. Consumer Price Index and Producer Price Index prices, it is derived from the largest component of the Gross Domestic Product in the BEA's National Income and Product Accounts, personal consumption expenditures.

In a 1987 contribution (" Lending and the Smoothing of Uninsurable Income "), he studied the optimal consumption allocation that a planner would choose if he could not observe households ' income, and that income was uncertain to households.

# REDIRECT Income – consumption curve

where Y represents National Income or GDP, C is consumption, I is investment, G is government spending and X-M stands for net exports.

Intermediate consumption ( also called " intermediate expenditure ") is an economic concept used in national accounts, such as the United Nations System of National Accounts ( UNSNA ), the US National Income and Product Accounts ( NIPA ) and the European System of Accounts ( ESA ).

# Income earned inside the plan on the after-tax savings ( excluding the contribution tax credit ) is not taxed either while within the plan or on withdrawal.

Savings identity or the savings investment identity is a concept in National Income Accounting stating that the amount saved ( S ) in an economy will be amount invested ( I ).

According to the Canadian Association of Income Funds, this translates into a permanent loss in savings of $ 30 billion to Canadian income trust investors.

Comprehensive earnings, in this case, includes net income from the Income Statement, foreign exchange translation changes to Balance Sheet items, accounting changes applied retroactively, and the opportunity cost of options exercised.

National income, measured by statistics such as the Net National Income ( NNI ), measures the total income of individuals, corporations, and government in the economy.

The people hit the hardest by the new GST will be the people on the lowest incomes, however, to try to prevent islanders living below the poverty line, the States of Jersey introduced an Income Support service in January 2008.

Income tax systems will often have deductions available that lessen the total tax liability by reducing total taxable income.

Countries are categorized by the World Bank's most recent grouping by GNI (" Gross National Income ") per capita.

The IRA had been created as part of the Employee Retirement Income Security Act of 1974, where employees not covered by a pension plan could contribute the lesser of $ 1500 or 15 % of earned income.

Income in the primary sector was led by that from agriculture, which totalled ¥ 8. 939 billion.

Many state LIHEAP ( Low Income Home Energy Assistance ) programs work side by side with WAP to provide both immediate and long term solutions to energy poverty.

Income distribution is measured by the Gini coefficient.

Income is supplemented by subsistence activities.

2009 Estimated Households by Household Income:

The 1. 50 % School District Income Tax was passed in the 2006 General Election ( November 7, 2006 ) by a vote of 52. 28 % FOR ( 5395 ) to 47. 72 % AGAINST ( 4924 ).

Once an individual qualifies for Supplemental Security Income they automatically become eligible for several other assistance programs as allowed by Federal and State law.

In India, trusts set up for the social causes and approved by the Income Tax Department, get not only exemption from payment of tax but also the donors to such trusts can deduct the amount of donation to the trust from their taxable income.

Pollock v. Farmers ' Loan & Trust Company,, aff'd on reh ' g,, with a ruling of 5 – 4, was a landmark case in which the Supreme Court of the United States ruled that the unapportioned income taxes on interest, dividends and rents imposed by the Income Tax Act of 1894 were, in effect, direct taxes, and were unconstitutional because they violated the provision that direct taxes be apportioned.

: Income elasticity of demand measures the percentage change in demand caused by a percent change in income.

According to the Canadian Association of Income Trust Investors some 2. 5 million Canadian investors were affected by the change in income trust policy.

* Chairing the local Advisory Committee for the Appointment of the General Commissioners of Income Tax, a tribunal which hears appeals against decisions made by the HM Revenue and Customs on a variety of different tax related matters.