G
General
Gross Income
Your total earnings before tax and deductions — the number your employer and the government see. When lenders ask for 'gross income' on an application, they want this figure. It's used to calculate affordability, even though net income is what actually hits your bank.
Usage Examples
"Bongani's payslip showed gross income of R32,000 monthly. After PAYE tax, UIF, pension, and medical aid, his net (take-home) was R24,000. When he applied for a loan, they asked for gross — R32,000 — and that's what they used in their affordability calculation."
"Thandi's contract says R28,000 gross. Her deductions total R6,500, so she gets R21,500 net into Absa monthly. Loan applications always ask for the R28,000 gross figure, not the R21,500 she actually lives on."
"Sipho freelances and made R45,000 gross in his best month, R18,000 in his worst. Lenders want to see gross income over 12 months (roughly R33,000 monthly average). That's a lot less lekker than his best month number."