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article imageStats Canada: Top 1% of Canadian earners gobble up 10% of wealth

By Marcus Hondro     Dec 10, 2013 in Business
Statistics Canada released information on Monday that shows top income taxfilers in the country continue to take home the lion's share of resources. The top 1% of Canadian earners lapped up 10.6 % of Canada's wealth in 2011, Stats Can says.
The information comes from the agency's Longitudinal Administrative Databank and is published yearly. While Canadian top income earner's share of the nation's wealth actually fell slightly in 2007, 2008 and 2009, in both 2010 and 2011 the numbers remained stable.
Top income earners in Newfoundland and Labrador, Alberta, the Territories. Saskatchewan and Prince Edward Island increased their collective share of the wealth in 2011. However, top income earners in British Columbia, Manitoba, Nova Scotia, New Brunswick, Ontario and Quebec saw declines in their share of the wealth.
The top 5% of taxfilers/earners in Canada collectively managed to garner 23.8% of the country's wealth.
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