If there is only one source of income,or if all incomes are received at thesame frequency, no incomeconversion is required.
For example:
John Smith $100/ weekSally Smith $200/ week
Combine & report total income as$300/ week
If there are multiple incomes withmore than one frequency, conversionis required. All of the incomes mustbe converted to annual income.
For example:
John Smith$100/ week
Sally Smith$200/ month
$100 x 52 weeks = $5,200/year
$200 x 12 months = $2,400/year
Total income: $7,600/year