What is the difference of income tax and income?

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2026-03-09 09:15

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Income is basically everything that you earn, whether by physical exertion, or by investing.

Income tax is a tax levied by governments, on the above income less allowable deductions and rebates.

Allowable deductions and rebates are worked out by the government levying the income tax. It very quickly gets very involved and complicated.

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