Overall median after-tax incomes rose slightly in 2023 after accounting for inflation, according to new data from Statistics Canada, however most demographics saw no benefit or lost ground, with only seniors coming out ahead.
The median after-tax income of Canadian families and unattached individuals was $74,200 in 2023, up 1.2% from $73,300 in 2022, after being adjusted for inflation, according to the data released Thursday.
For senior families, the median after-tax income was $79,700 in 2023, up 3.4% from 2022, while it rose 4.3% to $36,400 for unattached seniors. Government transfers also increased by 1.4% to $36,200 for senior families and 3.2% to $22,900 for single seniors.
Conversely, lone-parent families earned a median post-tax income of $65,400 in 2023, 0.3% less than the previous year, and singles under 65 made $41,600, down 0.2%. The situation wasn’t much better for couples with children, who made $126,700, remaining stagnant compared to 2022.
Alberta and Ontario residents had the highest median after-tax income in 2023, earning $88,500 and $78,600, respectively. Meanwhile, Nova Scotia ($62,900) and New Brunswick ($62,700) had the lowest incomes.
Although the territories had some of the highest median after-tax incomes, residents face higher costs of living. For example, Nunavut has a 43.4% poverty rate despite its median income of $90,800.