The information currently used to collect income bands is gross annual income. This is defined as income received by a person before the deduction of income tax, levies, or withholding payments. Income includes income from wages and salaries, self-employed income, property and rental income, dividends and investments, social insurance, superannuation, government assistance schemes, and private transfers, such as child support. Excluded are social transfers in kind such as public education or government-subsidised health care services; reimbursement of expenses, money received from borrowing, contingent income, unrealised income, and irregular payments, such as lump sum inheritance payments.
A person’s income can be aggregated for the family or household.
See also ‘Grouped personal income’ and ‘Total personal income’ in Individual definitions; and ‘Grouped combined parental income for couples with child(ren)’, ‘Grouped extended family income’, ‘Grouped family income’, and ‘Total family income’ in Family definitions; and ‘Grouped household income’ and ‘Total household income’ in Household definitions.