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Savers, investors and investment income

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The Daily

Tuesday, November 6, 2007

The number of taxfilers reporting investment income, as well as the amount of investment income they reported, both increased for the third consecutive year in 2006. Investment income refers to the sum of dividend income from taxable Canadian corporations and interest income from investments in non-tax-sheltered vehicles.

Nationally, over 8.2 million people reported $40.9 billion of income from investments, according to income tax returns filed in the spring of 2007. This is the highest number of people to report investment income since 2000, when some 8.5 million did so.

In 2006, the number of people reporting investment income was up 5.4% from 2005, while the income was up 16.3%. This gain in investment income in 2006 was more than double the 7.9% growth rate observed in 2005. (In comparisons involving dollar amounts, all figures for previous years have been adjusted for inflation, as measured by the Consumer Price Index.)

At the provincial level, the number of people reporting investment income rose 9.0% in Alberta, followed closely by Newfoundland and Labrador (+8.6%), and Prince Edward Island (+6.7%). Nunavut was the only province or territory to experience a decrease (-9.6%), although the decline in the number of people reporting investment income was small.

Investment income was up in all provinces and territories, with the Northwest Territories (+79.4%), Nunavut (+32.9%), and Alberta (+27.6%) posting the largest gains.

The proportion of taxfilers reporting investment income at the Canada level increased from 33.4% in 2005 to 35.1% in 2006.

The median investment income at the Canada level increased from $469 in 2005 to $530 in 2006, after adjustment for inflation. In other words, one-half of those reporting investment income in 2006 reported more than $530, and the other half reported less.

Median investment income rose in all provinces and territories. British Columbia had the highest median investment income at $680, followed by Alberta at $560, and Ontario and Saskatchewan at $550.

Among census metropolitan areas, taxfilers in Victoria reported the highest median investment income at $860. They were followed by taxfilers in Vancouver at $700, and Calgary at $580. This ranking was unchanged from 2005.

Investment income recipients are either investors (those who reported dividend income from taxable Canadian corporations), or savers (those who reported interest income). Investors may have also reported interest income.

About 3.5 million investors at the Canada level reported $33.6 billion of dividend and interest income in 2006. The number of investors rose 3.9%, while the income they reported went up 18.3%.

The number of investors rose in all provinces and territories, with the largest percentage increases taking place in Alberta (+7.8%), followed by British Columbia (+6.8), and the Yukon (+4.5%).

The amount of dividend and interest income received by investors rose in all provinces and territories. Investors in the Northwest Territories reported the highest rate of growth, followed by investors in Nunavut and Alberta.

The number of savers climbed 6.5% to 4.7 million in 2006.

The amount of interest income reported by savers in 2006 increased 8.3% to $7.4 billion. This was the first increase in interest income since 2001, but the amount reported was still significantly lower than the $11.3 billion reported in 2001.

Note: Income earned from investments held under the terms of registered retirement savings plans or registered income funds, for example, are excluded. Capital gains are also excluded.

Available on CANSIM: tables 111-0036 to 111-0038 and 111-0042.

Definitions, data sources and methods: survey number 4106.

The databanks, Canadian Savers (17C0009, various prices), Canadian Investors (17C0007, various prices), Canadian Investment Income (17C0008, various prices), and Canadian Capital Gains (17C0012, various prices), are now available for Canada, the provinces and territories, cities, towns, census metropolitan areas, census divisions, federal electoral districts, forward sortation areas (the first three letters of the postal code), and letter carrier routes.

For more information, or to enquire about the concepts, methods or data quality of this release, contact Client Services (toll-free 1-866-652-8443; 613-951- 9720; fax: 1-866-652-8444 or 613-951-4745;, Small Area and Administrative Data Division.

Tables. Table(s).