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After-tax incomes in Alberta, Part 1 of 2

After-tax incomes in Alberta, Part 1 of 2

Posted on: 1/15/2019 | Author: ATB Financial's Economics + Research Team

The median after-tax income in Alberta was $70,200 in 2016. Controlling for inflation, that’s an impressive 51 per cent higher than it was 20 year earlier, but 4 per cent lower than it was in 2014.

The number is derived by lumping all families types and unattached individuals together and looking at their income from earnings, investments and government transfers, less income tax. However, when we we untangle the different family types, some large differences in income emerge.

Statistics Canada defines an economic family as “a group of two or more persons who live in the same dwelling and are related to each other by blood, marriage, common-law, adoption or a foster relationship.” The median after-tax income of Alberta families was $92,800 in 2016 compared to $34,400 for unattached Albertans. This gap is not surprising given economic families often have more than one person with income.

Age is also a major factor affecting income. Non-elderly families (families in which the major income earner is younger than 65 years old) had a median after-tax income of $99,000 in 2016 compared to $67,700 for elderly families (families in which the major income earner is 65 years or older). Similarly, the median after-tax income for unattached Albertans under age 65 was $38,800 compared to $25,700 for those 65 and over.

The median income of non-elderly, unattached men was 26 per cent higher than it was for non-elderly, unattached women, and 39 per cent higher for male lone-parent families compared to female lone-part families.

Tomorrow, The Owl takes a look at how income in Alberta compares to the other provinces.

Median after-tax income, graph

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