“We’re hearing from physicians who feel betrayed, discouraged, and deflated by this latest development. We must not create more roadblocks that will add further stress to the health workforce or prevent prospective physicians from choosing to practise in Canada,” she continued.
The CMA is worried that increasing the capital gains inclusion rate for professional corporations will further hinder efforts to retain and recruit physicians, especially given the current strain on the health system.
Many community-based physicians have incorporated their practices to deliver health services efficiently. Most physicians lack access to employer or government pension plans, benefits, sick leave, maternity leave, or paid vacation, and cannot raise fees to cover new or rising expenses.
Instead, they depend on their professional corporations to save for these essential life events.
Physicians have voiced several concerns to the CMA following the announcement of the capital gains changes: