Definition of income noun from the Oxford Advanced Learner's Dictionary

    

income

 noun
noun
BrE BrE//ˈɪnkʌm//
 
; NAmE NAmE//ˈɪnkʌm//
 
; BrE BrE//ˈɪnkəm//
 
; NAmE NAmE//ˈɪnkəm//
 
[countable, uncountable] Running a business
 
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the money that a person, a region, a country, etc. earns from work, from investing money, from business, etc. people on high/low incomes a weekly disposable income (= the money that you have left to spend after tax, etc.) of £200 a rise in national income They receive a proportion of their income from the sale of goods and services. Tourism is a major source of income for the area. higher/middle/lower income groups Synonymsincomewage/​wages pay salary earningsThese are all words for money that a person earns or receives for their work.income money that a person receives for their work, or from investments or business:people on low incomeswage/​wages money that employees get for doing their job, usually paid every week:a weekly wage of £200pay money that employees earn for doing their job:The job offers good rates of pay.salary money that employees earn for doing their job, usually paid every month.wage, pay or salary?Pay is the most general of these three words. Employees who work in factories, etc. get their wages each week. Employees who work in offices or professional people such as teachers or doctors receive a salary that is paid each month, but is usually expressed as an annual figure.earnings money that a person earns from their work:a rise in average earnings for factory workersPatterns (a) high/​low/​basic income/​wage/​pay/​salary/​earnings to earn an income/​a wage/​your pay/​a salary to be on a(n) income/​wage/​salary of… CollocationsFinanceIncome earn money/​cash/(informal) a fortune make money/​a fortune/(informal) a killing on the stock market acquire/​inherit/​amass wealth/​a fortune build up funds/​savings get/​receive/​leave (somebody) an inheritance/​a legacy live on a low wage/​a fixed income/​a pension get/​receive/​draw/​collect a pension depend/​be dependent on (British English) benefits/(North American English) welfare/​social securityExpenditure spend money/​your savings/(informal) a fortune on… invest/​put your savings in… throw away/​waste/ (informal) shell out money on… lose your money/​inheritance/​pension use up/ (informal) wipe out all your savings pay (in) cash use/​pay by a credit/​debit card pay by/​make out a/​write somebody a/​accept a (British English) cheque/(US English) check change/​exchange money/​currency/(British English) traveller’s cheques/(US English) traveler’s checks give/​pay/​leave (somebody) a depositBanks have/​hold/​open/​close/​freeze a bank account/​an account credit/​debit/​pay something into/​take money out of your account deposit money/​funds in your account withdraw money/​cash/£30 from an ATM, etc. (formal) make a deposit/​withdrawal find/​go to/​use (especially North American English) an ATM/(British English) a cash machine/​dispenser be in credit/​in debit/​in the black/​in the red/​overdrawnPersonal finance manage/​handle/​plan/​run/ (especially British English) sort out your finances plan/​manage/​work out/​stick to a budget offer/​extend credit (to somebody) arrange/​take out a loan/​an overdraft pay back/​repay money/​a loan/​a debt pay for something in (especially British English) instalments/(usually North American English) installmentsFinancial difficulties get into debt/​financial difficulties be short of/ (informal) be strapped for cash run out of/​owe money face/​get/ (informal) be landed with a bill for £… can’t afford the cost of…/payments/​rent fall behind with/ (especially North American English) fall behind on the mortgage/​repayments/​rent incur/​run up/​accumulate debts tackle/​reduce/​settle your debts compare expenditure See related entries: Running a business Word Origin Middle English (in the sense ‘entrance, arrival’, now only Scots): in early use from Old Norse innkoma, later from in + come. The current sense dates from the late 16th cent.Extra examples A large number of families in the area are living on below-average incomes. A lot of our income comes from bank interest. A single mother of three, she relies on income support. Average incomes are rising more slowly. Customer subscriptions provide a reliable income stream. Elderly people often belong to a low income group. Every company must keep control of its income and expenditure. Financial assets have the advantage of earning income. For 2001, expenditure exceeded income by £10 000. He has a large private income on top of what he earns as a teacher. He planned to buy two more properties so he could live off the rental income. If a person’s income arises in the UK it is subject to UK income tax. Interest is treated as income for tax purposes. Lower income growth reduces demand. Many families on a low income are dependent on state support. Operating income rose 14% to £36.5 million. Profit figures are based on reported income. Real income per head of population was at a low point five years ago. She received an income for life as a result of her father’s will. She supplements her income by doing an evening job. She was living on a small, fixed income and having trouble paying her bills. Social security guarantees an income to retired and disabled workers. Tax rates are 40% on ordinary income. The area could derive lucrative tourist income from the park. The business provided him with a six-figure income. The income gap between rich and poor grew. The industry claims the regulations have cost them $184 million in lost income. The return on your investment can provide you with regular income. There are internal disputes over the party’s incomes policy. They aim to redistribute income from the rich to the poor. They hope that the lottery will provide additional income for charities. a company’s income statement a young couple with a combined income of $69 000 income from tourism people in the lowest 25% of income earners the average per capita income the money incomes of individuals ways of boosting your retirement income Organic food is simply not affordable for people on low incomes. She is definitely in the higher income bracket. The company has an income of around $10 million a year. They have a weekly disposable income of £200. Tourism is the island’s main source of income.
See the Oxford Advanced American Dictionary entry: income

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