After-tax median income of economic families ($2013)

What is measures 

Dimension: Average and median income and wealth

This indicator reports the median after-tax income of Canadian families of two or more people. An economic family simply refers to two or more people living in the same household who are related by marriage, common-law, blood, or adoption. After-tax income is the amount of money Canadian families have to spend or save as desired, after they have paid their taxes. This indicator identifies the income point where half of Canadian families have higher incomes and half have lower incomes. Converting the actual dollar value to “constant dollars” (based on the value of a dollar in 2013) allows us to accurately compare income levels over time.

Why this matters

After-tax income can determine whether or not a family has enough money to purchase goods and services that are important to wellbeing. Access to food, shelter, and clothing, not to mention higher education and recreation and leisure opportunities, are all examples of resources that are heavily influenced by income. Consequently, higher median incomes can indicate higher levels of wellbeing among a population.

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