So what does it take to be counted as part of Canada’s 1%? Well if you earned just over $200k you’re in the club. On average, the top 1% of Canadian earners, make just under half a million bucks last year and if you’re in the club you’re probably a doctor, dentist, senior manager or a vet. Here’s how it breaks down by province.
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 five largest census metropolitan areas – Montréal, Toronto, Calgary, Edmonton and Vancouver – accounted for 62% of the top 1% of tax filers in 2010. In contrast, these five metropolitan areas had 42% of all tax filers.
Calgary had 27,300 tax filers in the top 1% in 2010. However, between 1989 and 2010, its share of the national total more than doubled from 5% to 11%.
The median income of the top 1% of tax filers who lived in Toronto was $301,200 in 2010, while in Calgary, it was $293,800. The top 1% in Calgary held 26% of the metropolitan area’s total income, while those in Toronto accounted for 18%.