Average after-tax income of Canadian families dips lower in 2023
Released: Friday, July 25, 2025
Are Canadians getting wealthier? The latest data from Statistics Canada would suggest that in 2023 Canadian families were almost as wealthy as they were the year before. The average after-tax income of Canadian families in 2023 was $82,610, down 0.1% or about $60 in real terms. There were notable changes in the composition of family income. Average employment income was down $590 or 0.8%, and government transfers declined by $300 or 2.2%. Meanwhile, there were increases in average income generated from dividends and interest of $820. Lastly, lower income taxes paid helped boost overall income by $350.
There are clear regional differences. Nova Scotia (1.6%), Prince Edward Island (+1.5%), and British Columbia (1.4%) led growth in 2023. In contrast, Nunavut experienced the steepest decrease in average after-tax family income of 2.4%, followed by Quebec and Saskatchewan, which saw declines of 1.2%.
Data for the above chart comes from Statistics Canada Table 3 Average family after-tax income by province and territory, 2022 and 2023.
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