Definition: Private income

Category: Social statistics

Private income consists of:
 - Property income 
      .. is the rental income after deducting mortgage / repairs / maintenance / insurance. The value before tax is collected and converted into net on the basis of a net/gross ratio (The net/gross ratio is estimated using a simple statistical procedure on the basis of reported ratios for income from employment, for which both the net and the gross amounts are solicited.). Property income is collected at household level and divided equally among all adult members (persons aged 16 or more) of the household. 
 - Capital income 
      .. covers interests on saving certificates, bank deposits and dividends from shares. 
 - Private transfers 
      ... include any financial support or maintenance from relatives, friends or other persons outside the household.
Eurostat, "European Community Household Panel (ECHP) - Selected indicators from the 1995 wave", Office for Official Publications of the European Communities, Luxembourg, 1999