 The amount of a person’s income before all deductions.

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Presentation transcript:

 The amount of a person’s income before all deductions.

 The amount of a person’s income after taking into account all deductions. It is also know as “take home pay” as it is the amount of money a person actually recieves.

 An earnings related social insurance program that is a part of Canada’s retirement income system.  All employed Canadians 18 and over must contribute to this program.

 Another earnings related social program, this one provides temporary support to those between jobs, or to those who cannot work due to illness, childbirth, or caring for a gravely sick family member.

 An earnings based tax which is paid to the government to fund programs and services within the country and province.

 An income replacement program in the case that a person becomes disabled and unable to perform their job.  The employer usually sets up group coverage for this type of insurance, and deducts your portion from your pay.

 A regular payment to members of unions which are used to fund the activities unions engage in.

 Money that is invested for you that comes directly off your paycheque.

 Money in which you have already been paid (in advance of your paycheque).

 The amount of income that was accrued while working hours of overtime.