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transfer payment
noun
- any payment made by a government for a purpose other than that of purchasing goods or services, as for welfare benefits.
- any money received that is neither a payment for goods or services nor investment income.
transfer payment
noun
- usually plural money received by an individual or family from the state or other body, often a pension or unemployment benefit. It is not reckoned when calculating the national income as it is money transferred rather than paid for merchandise or a service rendered
transfer payment
- Income transferred from one party to another without a corresponding exchange of goods or services . Examples are a corporation 's charitable contributions or a government's provision of social services.
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Word History and Origins
Origin of transfer payment1
First recorded in 1940–45
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