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Unearned Income

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Unearned income (revenue)
Income received in advance of the time at which it is earned, such as prepaid rent.

Passive Income
Income from a venture in which an individual does not directly participate. The most common types of passive income are rents and income from a limited partnership. Some analysts consider income derived from securities such as dividends and coupons to be passive income, while others put it into a separate category as portfolio income. Passive income is taxable, but it is often treated differently than active income.

unearned income
Individual income, such as dividends, pension payments, and capital gains, that is derived from something other than personal services. Compare earned income.

Unearned Income
Taxable income other than that received for services performed (earned income). Unearned income includes money received for the investment of money or other property, such as interest, dividends, and royalties. It also includes pensions, alimony, unemployment compensation, and other income that is not earned.


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However, this unearned income is not bagged under the guise of expenses as per the MPs' ill-gotten gains, but from a councillor's allowance levied on residents by the councillors themselves.
I suggest the RBS boss should be given pounds 150 a week pension and have the rest of his pension taxed at 90% as unearned income.
 
 
 
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