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Income

Keywords and concepts for Junior Cycle Income

TermDefinition
What is Income? Is money you receive
What is Benefit in Kind? Is non-income money you receive, e.g. Company Car, mobile phone
What is Regular Income? Is what you are sure of receiving, you can plan to spend it. E.g. Wages
What is Additional Income? Is what you are not sure you will receive. You cannot plan to spend it. E.g. Bonus
What is Pocket Money? A small weekly sum of money given to children as an allowance.
What is Wages? Is regular income for hours worked or number of goods produced.
What is a Tax Refund? Money back from the government when too much tax has been paid.
What is Family Income Support (FIS)? Income supplement received by families on a low income.
What is Child Benefit? Regular income received once a month from the government if you have children under the age of 16.
Who do you receive Inheritance from? A relative or a friend
Popular Economics sets

 

 



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