Canada’s top 1% of taxfilers saw their share of the country’s total income remain the same in 2013, while their average total income grew 1.2%, the same rate as all taxfilers.

The top 1% of taxfilers received 10.3% of the nation’s total income in 2013, the same as in 2012. Their average income increased $5,600 or 1.2% from 2012 to $454,800. This was still below the 2007 peak of $519,500 (all dollar figures are in 2013 constant dollars). The average income of the top 5% rose 1.8%, while that of the top 10% increased 1.9%.

The top 1% of taxfilers paid, on average, $151,900 in income taxes to the federal, provincial or territorial governments in 2013, up $3,000 or 2.0% from a year earlier. Meanwhile, the average tax paid by all taxfilers increased by 1.8%. The top 1% of taxfilers paid 20.3% of federal and provincial/territorial income taxes in 2013, unchanged from 2012.

To be in the top 1% in 2013, a taxfiler needed to have total income of at least $222,000. There were 264,030 taxfilers that had this amount or more in 2013. To be in the top 5% required $115,700, while to be in the top 10% required $89,200.

Source: The Daily — High-income trends among Canadian taxfilers, 1982 to 2013