Alberta home to top income earners

Not only does oil flow in Alberta but money does as well.

That was clear Tuesday as Statistics Canada released new data on the nation’s top one per cent of tax filers.

In 2005, Alberta surpassed Quebec as the province with the second largest proportion of Canadians in the top one per cent, and has remained there since. Alberta was home to 12.7 per cent of the top one per cent of Canadian tax filers in 2000 and this share had increased to 22.8 per cent by 2012, said the federal agency.

“In Alberta, the income share of the top 10 per cent of Canadian tax filers living in that province went down after the recession, but, by 2012, it had recovered to reach 50.4 per cent, just shy of the 2008 peak of 50.8 per cent,� explained Statistics Canada.

But the federal agency said Canada’s top one per cent of tax filers saw their share of total income fall to a six-year low in 2012.

It said the top one per cent held 10.3 per cent of total income in 2012, down from 10.6 per cent in 2011, and well below the historical peak of 12.1 per cent reached in 2006.

Taxfilers needed to earn a total income of $215,700 to be among the top one per cent in 2012, a $3,000 increase from $212,700 in 2011, said the federal agency.

Statistics Canada said Ontario still had the largest proportion (41.5 per cent) of the country’s top one per cent tax filers in 2012, but this share has been declining since its peak of 51.7 per cent in 2000.

“Although Canadian men represent the vast majority of the top income groups, the number and share of women in top one per cent reached a 31-year high in 2012,� said the federal agency.

“Among the 261,365 top one per cent tax filers, more than one in five (21.3 per cent) in 2012 were women. That was almost twice their proportion in 1982.�

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