Gross Income in its simplest form is all earnings before deductions of any kind. Typically gross income earnings can be made up of the following most common items:
The gross pay section of the PAYE calculator asked for the total of all of these before any deductions.
A person earns $100,000.00 per year from their only source of income which is a job working at the Inland Revenue Department. They are enrolled into the KIWISAVER scheme and have a small student loan repayment. As gross income is earnings before dedications this person’s gross income is $100,000.00.