Top Taxfilers Income Share Remains Same

    0
    5

    Canada’s top one per cent of taxfilers saw their share of the country’s total income remain the same in 2013, while their average total income grew 1.2 per cent, the same rate as all taxfilers, says Statistics Canada. The top one per cent of taxfilers received one-tenth of the nation’s total income in 2013, the same as in 2012. Their average income increased $5,600 or 1.2 per cent from 2012 to $454,800. This was still below the 2007 peak of $519,500 (all dollar figures are in 2013 constant dollars). The average income of the top five per cent rose 1.8 per cent, while that of the top 10 per cent increased 1.9 per cent. Additionally, the top one per cent of taxfilers paid, on average, $151,900 in income taxes to the federal, provincial, or territorial governments in 2013, up $3,000, or two per cent, from a year earlier. Meanwhile, the average tax paid by all taxfilers increased by 1.8 per cent. To be in the top five per cent required income of $115,700, while to be in the top 10 per cent required $89,200.