Examlex
What is disposable income? How is it calculated?
Taxable Income
The amount of income used to calculate how much the taxpayer owes in taxes to the government.
Average Tax Rate
The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), reflecting the percentage of income paid in taxes.
Taxable Income
The amount of income that is used to calculate an individual's or a company's income tax due to the government.
Average Tax Rate
The fraction of total income that goes to taxes, calculated by dividing the total amount of taxes paid by the taxpayer's total income.
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