Income consists of amounts such as:

• salaries and wages
• remuneration
• commission
• fees
• interest
• dividends
• annuities

As a rule, income is derived from:

• employment
• a business
• an office
• property

However, an amount received in the form of capital does not constitute income. For example, if you make a one-year term deposit of $1,000 (capital) at a bank, at 5% interest, the bank will remit $1,050 ($1,000 in capital + $50 in interest) to you when the investment matures. Only the $50 in interest is considered income. Consequently, you will receive an RL slip from the bank indicating $50 in interest income.