Top 1% account for less of the country's total income: StatsCan
The gap appears to be closing between the top 1% richest in the country and the rest of us, according to Statistics Canada.
In 2006, the top 1% of Canada's 25.5 million tax-filers accounted for 12.1% of the nation's total income. By 2010, that percentage had dropped to 10.6%, according to numbers compiled by StatsCan and released Monday.
But the hit might be temporary. Brenda Lafleur, a research director with the Conference Board of Canada, says the recession likely has everything to do with it.
"The top 1% definitely had a tough go of it, and it's not surprising with the recession and the stock market going down the way it did," she said. "But their incomes, over time, are still rising."
The top 1% made $201,400 or more in 2010. That's way up from 1982, when the threshold income to be part of the top 1% was $147,500.