Money and banking / B1

INK-um/ˈɪnkʌm/

Income is the money a person or organisation receives, usually from work: a low income; household income; source of income. A salary is regular pay from an employer; a wage is often paid weekly and hourly; profit is what a business has left after costs. Income tax is tax on earnings. Gross / net income means before / after tax. Uncountable in this money sense: not “an income of many incomes.”

Meaning

The money that a person or organisation receives, usually from work.

Examples

• “His income is not enough to rent a flat.”
• “Teaching is her main source of income.”
• “Household income has fallen in real terms.”

Good to know

household / low / source of income. Employer pay: salary. Weekly/hourly: wage. Business leftover: profit. Tax: income tax.

Near in meaning

earnings

Topics

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