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Income statistics by census metropolitan area (CMA) are published: every 5 years for households (data from the Census of Population) annually for economic families, for select CMAs (data from the Canadian Income Survey) annually for census families (data from the T1 Family File) The income concept for this article is total income. [4]
In the table below, the figures from the previous table are converted to United States dollars using the ratio of the International Monetary Fund's estimate for Canada's GDP by purchasing power parity (PPP) to Canada's nominal GDP. [6]
According to Statistics Canada, total household credit as of July 2019 was CAD$2.2 trillion. [165] According to Philip Cross of the Fraser Institute , in May 2015, while the Canadian household debt-to-income ratio is similar to that in the US, however lending standards in Canada are tighter than those in the United States to protect against ...
The OECD "estimates take into account federal and provincial or state taxes, as well as social security contributions and money returned in the form of family benefits". [29] In 2016, Canada's tax revenue to GDP ratio was 31.7% ranking 24th out of 35 OECD countries, [30] compared to the US at 26% ranking at 30th, according to the OECD. [31]
Data source: Survey of Consumer Finances, Of Dollars and Data (2023). Income matters -- but there's much more to being successful. Earning an above-average income can certainly help you financially.
The head of Statistics Canada is the chief statistician of Canada. The heads of Statistics Canada and the previous organization, the Dominion Bureau of Statistics, are: Robert H. Coats (1918–1942) Sedley A. Cudmore (1942–1945) Herbert Marshall (1945–1956) Walter E. Duffett (1957–1972) Sylvia Ostry (1972–1975) Peter G. Kirkham (1975 ...
Income taxes throughout Canada are progressive with the high income residents paying a higher percentage than the low income. [31] Where income is earned in the form of a capital gain, only half of the gain is included in income for tax purposes; the other half is not taxed.
Quebec residents pay 16.5% less federal income tax annually than other Canadian provinces due to the Quebec Abatement. [42] This lower direct income tax for Quebec residents is factored in when the federal government transfers (Canada Health Transfer, Canada Social Transfer and Equalization) funds back to the Quebec government. [42]