If you pool together all the money the approximately 27.3 million Canadians aged 15 and over earned in 2010, you arrive at the impressive total of $1.1 trillion.
That figure comes from the final batch of data from the 2011 National Household Survey, which Statistics Canada released today. The voluntary survey replaced the mandatory long-form census in 2010. Today's release focuses on two areas: the income of Canadians and the costs of home ownership and shelter. Here are five more fascinating facts and figures from the survey:
5. The One Per Cent Earn Almost A Tenth Of All Income
According to the survey, Canadians whose income is in the top one per cent earn an average of $381,300, or about 9.5 per cent of the country's total income. The cut off to be in the one-per cent club is $191,100, which is nearly seven times the national median income of $27,800.
4. The Wealthiest Canadians Are Pretty Much Who You'd Expect
High income earners are more likely to be older, male, married city dwellers with university degrees. Four-fifths of the one per cent were male, and more than half lived in Toronto, Montreal, Calgary or Vancouver.
3. Canadians Pay About A Sixth Of Their Income In Income Tax
Every April, Canadians come together to grumble about about having to reckon with the taxman. Turns out, Canadians pay about 16.4 per cent of our total income in federal and provincial income taxes, with just over a third of those over 15 not paying any income tax at all.
2. People In Nearly 7 Out Of 10 Households Own Their Dwelling
The home ownership rate has been steadily creeping upward in Canada for the last two decades. The survey pegged the number at 69 per cent, which about matches the rate in the U.S. and the U.K. Home ownership is highest in the Atlantic provinces, led by Newfoundland and Labrador, where it was 77.5 per cent. The province with the highest proportion of renters is Quebec, where the home ownership rate is only 61.2 per cent.
1. One Quarter Of Canadians Spend Too Much On Shelter
In 1986, the federal and provincial governments established a threshold of housing affordability set at 30 per cent of a resident's monthly income. By that standard, a full quarter — or 3.3 million households — in Canada are paying more than they should on housing. Unsurprisingly, that number spikes in Vancouver, where a third of all households spend more than 30 per cent on shelter.