Canada’s Wealthy Pay Tenth of All Taxes

January 29, 2013 Taxation in Canada

Canada Flag #2OTTAWA – Canada’s richest people are lending significant support to the national government and its revenue streams, accounting for more than a tenth of the country’s incomes.

According to a new report released by Statistics Canada on January 28th, over the course of 2010 the top 1 percent of all individual taxpayers in the country paid out 10.6 percent of the country’s total revenues.

The research by Statistics Canada analyzed the income levels of the country’s highest earners, showing that the average income of the top 1 percent of earners received at least CAD 201 400 and was approximately on average CAD 283 400, compared to an average income of CAD 28 400 for the rest of the country’s taxpayers.

Statistics Canada also showed that the number of women who were in the top 1 percent of earners has nearly double since 1982, reaching approximately 53 200.

When broken down by regions, the research showed that Montreal was the town with the most high earners, accounting for 62 percent of all taxpayers regarded as being in the top 1 percent, and Ontario was the province that has the highest number of high income earners.

Photo by I am I.A.M.