The median after-tax income of Alberta families and unattached individuals was the highest in Canada in 2017 despite a slight drop from 2016, according to Statistics Canada.
The federal agency reported on Tuesday that the median after-tax income in the province was $70,300 in 2017, dropping from $71,300 in 2016.
That was significantly higher than the Canadian average of $59,800 in 2017.
Across Canada, the median after-tax income rose by 3.3 per cent year over year compared with $57,900 in 2016.
“This gain was the result of a combination of factors, including higher wages and salaries among non-senior families (where the highest income earner was less than 65 years of age), and an increase in child benefits,” said StatsCan.
“The median market income of non-senior families rose 2.7 per cent from 2016 to $92,400 in 2017. The gain in market income was due mainly to an increase in annual wages and salaries income, which reached $85,500 for non-senior families, and reflected the stronger employment growth in 2017.
“In addition, 2017 represented the first full calendar year of implementation for the new Canada Child Benefit (CCB), which came into effect in mid-2016. The CCB, which bundled together and enhanced previous federal child benefit programs, resulted in higher incomes for families with children. Couple families with children saw their median child benefits increase by $1,200, while lone-parent families received an extra $1,300 in 2017 compared with 2016. Overall, these changes combined to raise the median after-tax income of non-senior families by $1,500 to $87,600 in 2017.”
– Mario Toneguzzi