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WE'RE PROTECTING CANADIANS BY HOLDING THE POWERFUL ACCOUNTABLE

Journalism is an important public service. That’s why we’re prioritizing stories aimed at keeping Canadians safe and holding the powerful accountable.

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Canada’s rich are richer than you think… 39% richer

Canada’s rich make a lot more than previously thought because many bolster their income through private holding companies not counted as part of their earnings in personal tax returns, a new study has found. That means Canada’s top 1% of income earners made an average of 39% more in 2011 — $500,200, not $359,000 — when income […]

June 17, 2014

Canada’s rich make a lot more than previously thought because many bolster their income through private holding companies not counted as part of their earnings in personal tax returns, a new study has found.

That means Canada’s top 1% of income earners made an average of 39% more in 2011 — $500,200, not $359,000 — when income from their private companies is included.

For the top 1%, including income from Canadian-controlled private corporations (CCPC) adds over…