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The number of Canadian millionaires is expected to grow by 50 per cent over the next five years, according to the latest edition of the annual Credit Suisse Wealth Report.

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William Watson: From those to whom much is given much is required. The Bible says that, but also the Canada Revenue Agency.





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Credit Suisse said Canada currently has 1,117,000 adults with asset holdings exceeding US$1 million, an increase of 25,000 individuals from last year. Based on forecasts in the growth of Canada’s gross domestic product and equity market capitalization, Credit Suisse expects the number of adult Canadians whose wealth exceeds US$1 million will rise by 50 per cent to 1,680,000 in 2021.

Canada is a rich country by global standards. According to Credit Suisse, Canada has about 4 per cent of the richest 1 per cent, even though Canada makes up only 0.6 per cent of the world’s adult population.