Friday, October 24th2.1°C
23711
22501

A tenth of all income earned by 1%

Statistics Canada says the top one per cent of the country's 25.5 million tax filers accounted for 10.6 per cent of the nation's total income in 2010, down from a peak of 12.1 per cent in 2006.

However, that top one per cent also paid 21.2 per cent of all federal and provincial or territorial income taxes, down from the peak of 23.3 per cent in 2007.

In 2010, a tax filer required an annual income of $201,400 to be in the top one per cent, up from $147,500 in 1982.

The income gap between the top one per cent and the rest of filers has widened over time, calculated in 2010 constant dollars.

In 1982, the median income of the top filers was $191,600 or seven times the median income of $28,000 for the other 99 per cent.

By 2010, the median income of the top filers increased to $283,400, about 10 times the median income of $28,400 for the rest.

In 2010, four provinces – Ontario, Alberta, Quebec and British Columbia – accounted for 92% of the 254,700 people in the top 1%.

Ontario had 110,300, followed by Alberta with 52,200, Quebec at 42,600 and British Columbia with 29,500.

Between 1990 and 2010, Alberta's share of the top 1% of filers doubled from 10% to 20%, while Ontario's proportion fell from 51% to 43%.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX14486.83+174.76
S&P CDNX808.600.60
DJIA16677.90216.58
Nasdaq4452.792+69.945
S&P 5001950.82+23.71
CDN Dollar0.8913+0.0009
Gold1232.60+3.50
Oil80.99-0.76
Lumber334.10+4.50
Natural Gas3.601-0.021

 
Okanagan Companies
Pacific Safety0.11-0.01
Knighthawk0.01-0.005
QHR Technologies Inc1.17+0.02
Cantex0.0550.00
Anavex Life Sciences0.1980.00
Metalex Ventures0.04-0.01
Russel Metals33.16+0.63
Copper Mountain Mining2.08-0.02
Colorado Resources0.14-0.005
ReliaBrand Inc0.013+0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.41+0.005

 





FEATURED Property
8519974377 Wallace Hill Road
3 bedrooms 3 baths
$1,750,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...


Keep it rubber side down

This time of year, I always worry about which friends of mine will get caught going off the road in adverse weather conditions. With a little preparation most accidents can be avoided. Having won the...


Big bank predicts rate hike

Photo: Thinkstock.comThe end of record-low rates is nigh, according to one major bank, which has taken a stance and predicted when the Bank of Canada will raise its long-standing overnight rate. &ldq...

_








Member of BC Press Council


23091