Income Gap Widens as Richest Canadians See Incomes Soar While Poorest Decline
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The richest 1% of Canadians saw their incomes rise nearly 10% in 2021 to an average of $579,100, even as the poorest half saw incomes drop $1,400.
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Those in the top 0.1% and 0.01% brackets saw even larger income increases of 17.4% and 25.7% respectively.
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Most of the income decline for lower earners was due to the end of pandemic support programs like CERB.
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Including capital gains, the top 1% of filers saw average income rise 20.5% to $811,800 in 2021.
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The share of all income going to the top 1% reached its highest level since 2015 at 10.4%, showing the rich-poor gap widening.