Two West Coast cities are leading the way in Canada when it comes to income derived from investments.
Victoria's metropolitan area has the highest median investment income in the country, according to the latest data released by Statistics Canada on March 21.
Taxfilers living in B.C.'s capital region, which the 2011 census recorded as having almost twice as many retirees as the Canadian average, reported a median investment income of $1,000 in 2012 compared with $710 in Vancouver's metropolitan area and $600 in Toronto during that same period.
Median investment income throughout Canada was worth just $590.
B.C. is also home to the metropolitan area with the second-highest median investment income.
Taxfilers in Kelowna reported a median investment income of $990 – just a hair behind Victoria.
And at 38.7%, Victoria registered the highest proportion of taxfilers reporting investment income.
B.C. also led the provinces with the highest proportion of taxfilers (35.4%) reporting income derived from investments. Income investments were worth $10 billion in B.C. in 2012.
Overall, 30.1% of taxfilers in Canada reported investment income totaling $60.9 in 2012.
Newfoundland and Labrador was the province with the lowest proportion of taxfilers reporting income from investments with just 16.8%.
