Fewer top 1 percent tax filers in the three resource-rich provinces Consequently, women in the top 1 percent of tax filers continued to have much lower average employment income ($221,100) than their male counterparts ($346,500) as well as lower average total income ($450,400) then men ($534,400) in the top 1 percent. While improved education and their entry into high-paying occupations helped Canadian women make gains in their share at the top, the gender earnings gap still persisted for the top 1 percent and also across the income distribution. The total income share of women in the top 1 percent rose 0.1 percentage points to 2.2%. As a result, the share of women in the top 1 percent of tax filers rose 0.4 percentage points to 24.7%. The number of Canadian women entering the top 1 percent of tax filers grew by 3.2% to 70,990 in 2019. Women continue to make inroads into the top 1 percent Those with a total income of $37,200 or less were classified in the bottom 50 percent of tax filers, while those in the upper middle of the distribution (51st to 90th percentiles) had total incomes ranging from $37,200 to $100,000. To be deemed in the top 1 percent of tax filers in 2019 required a total income of over $250,300, while those in the top 0.1 percent required $790,100 and the top 0.01 percent $2,973,200. Nevertheless, the income share of the top 1 percent remained at lower levels than those seen in the mid -2000s, when it peaked at 12.1% following years of booming commodity prices.
Over the past three years, the total income share of the top 1 percent grew by eight-tenths of a percentage point while the income share of the upper middle of the distribution (the 51st to the 90th percentiles) declined by nine-tenths of a percentage point. The top 1 percent of tax filers received 10.1% of the national total income in 2019, up by almost a tenth of a percentage point from a year earlier and the third straight year where the total income share of the top 1 percent tax filers rose. The top 1 percent of tax filers account for a slightly larger share of the national total income in 2019 The average dividend incomes grew even faster for tax filers in the top 0.1% (+18.9%) and top 0.01% (+34.8%) in 2019. For example, while average employment income for tax filers in the top 1 percent increased by half a percentage point in 2019, their average dividend income grew by 10.5%. The growth in the total income of high-income tax filers was largely driven by dividend income. Moreover, the average total income growth for the top 0.1 percent (+5.5%) and the top 0.01 percent (+13.9%) of tax filers greatly outpaced those in the top 1 percent. Average income was relatively unchanged for those in the upper middle of the distribution (51st to the 90th percentiles). However, total income grew at a faster pace for tax filers at the top of the income distribution compared with those in the middle or at the bottom.Īverage total income for the top 1 percent of Canadian tax filers grew 1.8% in 2019, compared with a 0.8% increase among the bottom 50 percent. The average total income for all tax filers grew 0.7% to $51,000 in 2019. Total income grows at a faster pace at the top of the income distribution
Although these data predate the COVID -19 pandemic, they provide a baseline for future analysis on the impact of the pandemic on the income of Canadians. New statistics are now available on high income, effective tax rates, low income and income mobility for Canadian tax filers in 2019. Total income grew at a faster pace for Canadian tax filers in the top of the income distribution in 2019 compared with those in the upper middle or bottom of the distribution, while effective tax rates were unchanged.
0 kommentar(er)
