Tax
Compensation income
Income from being someone's employee: salary, wages, commissions and similar pay.
Most useful for: Fresh grad, Career shifter
- In real life
- An employee with one job and nothing else earns purely compensation income.
- Why it matters to you
- It decides which tax form fits you: 1700, 1701 or none at all.
An explanation to help you read your pay, not a ruling on your case. Your employer, the agency or DOLE has the final word.