Our last Blog was a quick snippet showing you some statistics on really rich Albertan’s so I felt compelled to share this latest piece of information posted by the CBC today on the same subject.
According to the National Household survey, released this week, we are able to take a closer look at Canada’s top 1% of income earners. What does it take to make it to the top 1%? This excerpt shows you the figures you need to aim for to call yourself one of the one.
“First, a look at the entry requirements. About 27.3 million Canadians were aged 15 and over in 2010. The vast majority of them (95 per cent) had some form of income. The top one per cent reported quite a bit of income. According to the 2011 survey, there were 272,600 Canadians who had incomes of at least $191,100 in 2010. That hefty number was the cutoff to make it into the top one per cent of Canadian income earners. That $191,100 is just the minimum to squeak into the one per cent club. Most of the people in that category earned much more. The average income among the top one per cent was twice that — $381,300.
To put this level of income into perspective, that’s almost 10 times the average Canadian income of $38,700. Since the median income of all Canadians — the point at which half earn less and half earn more — is a much smaller $27,600, that suggests that there are a few super-rich who are dramatically pulling up the average.”