Canada’s top1% of taxfilers saw their share of the country’s total income remain the same in2013, while their average total income grew 1.2%, the same rate as all taxfilers,Statistics Canada announced on Tuesday.
The 1% of taxfilers accounted for10.3% of the nation’s total income in2013, which is the same share they had in2012.As well, the top1% saw their average income increase by $5,600year over year to $454,800 in 2013, StatsCan says in a release, although the statistic agency notes that this is still well below the2007peak of $519,500.
To be in the top1% in2013, a taxfiler needed to have total income of at least $222,000, StatsCan says, and there were264,030taxfilers that reached this level in2013.Ontario boaste the biggest share of the top1% in 2013, accounting for 41.2% of that population, followed by Alberta at23.6%, Quebec with 15.5%, and British Columbia at 11.3%. Of the big four provinces, only Quebec saw its numbers decline in 2013.
Looking at the numbers by gender, women accounted for21.9% of the top1% in2013, the20th consecutive annual increase, StatsCan says. the proportion of female taxfilers in the top0.1% (those making over $707,800) increased by1.3percentage points from2012to15.8%, StatsCan adds.
Wages and salaries generate about62.6% of the top 1% income, although for women, it only makes up47.7% of their income, compared with66.2% for men.
In terms of tax, on average, the top 1% of taxfilers also paid $151,900in income taxes in2013, StatsCan reports. The average tax bill was up by $3,000,or2.0%, from the previous year, the statistical agency notes; whereas, the average tax bill for all taxfilers rose at a slightly slower rate, increasing by1.8% year over year.