Unrealized Income

Tax Glossary Definition

Unrealized Income

Unrealized Income – Unrealized income refers to income that has been earned or accrued but not yet actually received in cash or kind. Generally, such income is not taxed until it is realized, unless specific provisions of the Income Tax Act provide otherwise.

Example: Accrued interest on a bond that has not yet been received is considered unrealized income and is typically not taxable until payment is made.

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