Definition of Poverty
Low income is defined by Statistics Canada as having to spend greater than 20% of their gross income on food, shelter and clothing.
Monthly Budget Example for Family of 4
This family will pay 68.7% of after tax income on food and rent combined.
Main source of income: $1,777.00 (One adult making minimum wage - $10.25 x 40 hrs/week)
Additional credits: $ 737.00
Total Income (before tax): $2,514.00
17% Taxes (approx.): $427.38
Apartment Rent $1,033.14 (without hydro)
Cost of healthy food $ 694.49
Money left over: $358.99
What still needs to be paid? UTILITIES, CLOTHING, TRANSPORTATION, PHONE, PERSONAL CARE