
094 income and deductions!
Dev Raga Personal Finance
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What Is Income?
Income is money that you receive in exchange for providing a good or a service. It can also be derived from investments such as share portfolios, producing dividend income and rental properties which are rented out. Most Australians receive their income through wages and salaries or as sole traders as a small business. So when you earn an income, you need to give part of it to the Australian government in the form of taxation. We won't be going into business income and this channel remember is all about personal finance.
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