After Tax Income Economics Definition

Provincial and territorial income taxes include health care premiums in certain jurisdictions.

After tax income economics definition. Profit depends on two main factors. Financial gain from a transaction or from a period of investment or business activity usually calculated as income in excess of costs or as the final value of an asset in excess of its initial value. Profit after tax is the net profit attributable to shareholders after taxes have been paid. Gross profit is the difference between sales revenue and the cost of sales while net profit is equal to gross profit less selling distribution administration and financing costs.

Abatement reduces the federal income. After tax income also called income after taxes represents the amount of disposable income. See profit and loss account. After tax income refers to total income less income taxes of the statistical unit during a specified reference period.