Apparently, Canadian-born funnyman Russell Peters is laughing all the way to the bank.

Peters was the third-highest earning stand-up comic of the past year, according to a new survey by Forbes.

The Brampton, Ont., comedian is said to have pulled in $21 million US over the one-year period beginning June 2012, with Forbes' earnings number being based on estimates of pretax gross income compiled with help from agents, lawyers and others in the industry.

Jerry Seinfeld topped the list with $32 million US, followed by Las Vegas ventriloquist Terry Fator, who hauled in $24 million US.

Rounding out the Top 10 were Jeff Dunham, Louis C.K., Kevin Hart, Larry the Cable Guy, George Lopez, Daniel Tosh, Gabriel Iglesias and Ron White.

In order for a comic to make the list, Forbes specified that his or her primary income source had to come from concert tickets.