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Concept

Name
Sources of personal income
Description

Sources of personal income identifies all the various sources from which a person aged 15 years and over received income in the 12 months ending 6 March 2018.

In the census it is generally only realistic to collect information on money income. This is income that a person can normally recall or can readily retrieve from their financial records. Money income is money flow from the deployment of one’s labour, entrepreneurial skills, and assets; and from transfers received. So, the concept of money income relies on identifying its sources.

Excluded are income in kind, unrealised income, and contingent income (contingent income depends on the unknown outcome of a course of action, for example, to sue). Excluded also is money received by borrowing, making withdrawals from savings, and receiving repayments of loan principal; and tax credits and reimbursements of expenses.

See also ‘Sources of extended family income’ and ‘Sources of family income’ in Family definitions; and ‘Sources of household income’ in Household definitions.