ÐÇ¿Õ´«Ã½

Politics

    • Doctors ask Liberal government to reconsider capital gains tax change

    Share
    OTTAWA -

    The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing they will affect doctors' retirement savings.

    Kathleen Ross, the association's president, says many doctors incorporate their medical practices and invest for retirement inside their corporations.

    The proposed changes would increase taxes on those investments, something the association says will add "financial strain" for doctors who do not have a pension to rely on.

    Ross argues the change could also affect recruitment and retention of physicians in Canada.

    Doctors are the latest group to come out against the tax change, which is expected to largely affect wealthier Canadians and businesses.

    The federal budget presented last week proposes making two-thirds rather than one-half of capital gains -- or profit made on the sale of assets -- taxable.

    The increase in the so-called inclusion rate would apply to capital gains above $250,000 for individuals, and all capital gains realized by corporations.

    "We have seen this portrayed by the government as tax fairness for every generation. But realistically, there are certain members of the population that are going to be more impacted," Ross said in an interview.

    Ross pointed out that doctors would not be eligible for the $250,000 exemption to the higher inclusion rate, since the investments they make are largely inside corporations.

    The Liberal government has argued that the tax change is about levelling the playing field between those who earn income through capital gains versus employment.

    Economists in favour of the change change say that increasing the inclusion rate improves the tax system by making sure all types of income are taxed similarly.

    The Liberal government is also selling the change as a way to make the wealthy pay more to support things like housing and health care for all Canadians.

    As a result of the capital gains tax change, the federal government estimates only 0.13 per cent of Canadians with an average income of $1.4 million are expected to pay more in taxes in any given year.

    But Ross pushed back on the idea that doctors are highly-paid.

    "I need to combat the messaging that physicians are highly paid, given the extensive years of their of their professional training. And the fact that we graduate with substantial debt," Ross said.

    According to the Canadian Institute for Health Information, the average gross income per physician in 2022 was $357,000. Self-employed doctors also have to pay for overhead costs such as rent and staff salaries from that amount.

    Physicians can still invest in a Registered Retirement Savings Plan -- which is tax-advantaged -- so long as they pay themselves a salary out of their corporation.

    During a news conference on Tuesday, Finance Minister Chrystia Freeland was asked about the pushback from doctors.

    She responded by highlighting how much the government has spent on health care, including money earmarked in the budget for pharmacare, dental care and student loan forgiveness for doctors working in rural communities.

    "I think Canada's health-care professionals recognize, maybe more than anyone else, how important these investments are," said Freeland.

    "They are massive and I think it's entirely appropriate, it's really fair to ask those who are doing the best in our society to pay a little bit more to fund them."

    Prime Minister Justin Trudeau was also asked at a news conference about the request from physicians to reconsider the tax change.

    His response overlooked the concern from doctors that all of their investments would be subject to a higher inclusion rate because they are made through their incorporated business.

    "We need young people to be confident about the future," he said.

    "So yes, we are asking the most successful in this country to do a little bit more."

    This report by The Canadian Press was first published April 23, 2024.

    The Canadian Medical Association funds a fellowship that supports journalism positions at The Canadian Press. CP is wholly responsible for the editorial content created under the initiative.

    IN DEPTH

    Opinion

    opinion

    opinion Don Martin: Gusher of Liberal spending won't put out the fire in this dumpster

    A Hail Mary rehash of the greatest hits from the Trudeau government’s three-week travelling pony-show, the 2024 federal budget takes aim at reversing the party’s popularity plunge in the under-40 set, writes political columnist Don Martin. But will it work before the next election?

    opinion

    opinion Don Martin: How a beer break may have doomed the carbon tax hike

    When the Liberal government chopped a planned beer excise tax hike to two per cent from 4.5 per cent and froze future increases until after the next election, says political columnist Don Martin, it almost guaranteed a similar carbon tax move in the offing.

    CTVNews.ca ÐÇ¿Õ´«Ã½

    Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    BREAKING

    BREAKING

    The New Brunswick RCMP has issued an alert as officers search for an armed teenager in the Moncton and Shediac areas.

    An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    Canada

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • BREAKING

      BREAKING

      The New Brunswick RCMP has issued an alert as officers search for an armed teenager in the Moncton and Shediac areas.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • BREAKING

      BREAKING

      Michael Ford, Ontario's minister of citizenship and multiculturalism, says he is taking a leave of absence from cabinet to prioritize his health.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    World

    Politics

    Health

    Sci-Tech

    Entertainment

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    • Viewers of Jeopardy got a chance to test their knowledge of trivia about B.C.'s biggest city Wednesday night.

    Business

    Lifestyle

    • They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    Sports

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • The Winnipeg Jets have some huge holes to fill on both offence and defence this season.

    Autos

    • An Ontario man says it is 'unfair' to pay a $1,500 insurance surcharge because his four-year-old SUV is at a higher risk of being stolen.

    • Video of a brazen daylight auto theft which shows a suspect running over a victim in a stolen luxury SUV has been released by police west of Toronto.

    Local Spotlight

    They say a dog is a man’s best friend. In the case of Darren Cropper, from Bonfield, Ont., his three-year-old Siberian husky and golden retriever mix named Bear literally saved his life.

    A growing group of brides and wedding photographers from across the province say they have been taken for tens of thousands of dollars by a Barrie, Ont. wedding photographer.

    Paleontologists from the Royal B.C. Museum have uncovered "a trove of extraordinary fossils" high in the mountains of northern B.C., the museum announced Thursday.

    The search for a missing ancient 28-year-old chocolate donkey ended with a tragic discovery Wednesday.

    The Royal Canadian Mounted Police is celebrating an important milestone in the organization's history: 50 years since the first women joined the force.

    It's been a whirlwind of joyful events for a northern Ontario couple who just welcomed a baby into their family and won the $70 million Lotto Max jackpot last month.

    A Good Samaritan in New Brunswick has replaced a man's stolen bottle cart so he can continue to collect cans and bottles in his Moncton neighbourhood.

    David Krumholtz, known for roles like Bernard the Elf in The Santa Clause and physicist Isidor Rabi in Oppenheimer, has spent the latter part of his summer filming horror flick Altar in Winnipeg. He says Winnipeg is the most movie-savvy town he's ever been in.

    Edmontonians can count themselves lucky to ever see one tiger salamander, let alone the thousands one local woman says recently descended on her childhood home.

    • Thousands of protesters are expected to march into downtown Vancouver on Friday, demanding more action from their government to address the growing climate crisis.

    • Members of the only organized support group for the Vancouver Canucks are feeling slighted after losing their usual space at Rogers Arena.

    • There have been more reports of a Bitcoin extortion scam seeking to exploit viewers of "adult content" in B.C.'s Lower Mainland, according to the RCMP.

    • BREAKING

      BREAKING

      Michael Ford, Ontario's minister of citizenship and multiculturalism, says he is taking a leave of absence from cabinet to prioritize his health.

    • The Ford government is considering restricting Ontario municipalities from installing new bike lanes that would require the removal of lanes of traffic, a source confirms to CTV News Toronto.

    • For the last seven-and-half months, Toronto resident Heather McArthur has been living out what she describes as her 'worst nightmare.' On Feb. 7, her then three-year-old son Jacob along with his father Loc Phu 'Jay' Le departed for what was supposed to be a week-long visit to Vietnam to celebrate the Lunar New Year with family, McArthur says.

    • It will be the last show for longtime children's TV star Ron (Buck Shot) Barge as a memorial is held Friday in Calgary.

    • Alberta Health Services says an E. coli outbreak at a daycare in Blackfalds has ended.

    • Defence counsel for accused murderer John-Christopher Arrizza argues he was in an “altered state of mind†due to days of drug and alcohol use, sleep deprivation and not eating, when he fatally stabbed a man at a Banff nightclub in 2022.

    • Agreement in principle has been reached to build a new NHL arena at LeBreton Flats has been reached between the Ottawa Senators and the National Capital Commission (NCC), the two sides announced Friday.

    • Ottawa Fire Services says a driver has been safely extricated after being trapped following a two-vehicle collision near a high school in the city’s south end.

    • The Ottawa Police Service Arson Unit is seeking witnesses to a fire that happened early Friday morning in a two-storey commercial building in Little Italy.

    • The Montreal couple from Mexico and their three children facing deportation have received a temporary residence permit.

    • The province's public security minister said he was "shocked" Thursday amid reports that a body believed to be that of a 14-year-old boy was found this week near a Hells Angels hideout near Quebec City.

    • A man who asserted his right to work in French has won his case before the Tribunal, invoking the new provisions of the province's French-language law (Bill 96) to that effect.

    • Alberta Health Services says an E. coli outbreak at a daycare in Blackfalds has ended.

    • Mounties say there was an increased police presence in the Emerald Hills area of Sherwood Park on Friday morning as officers searched for a man who is wanted by police.

    • Edmonton police say a man who was died in the river valley last weekend was fatally shot.

    • BREAKING

      BREAKING

      The New Brunswick RCMP has issued an alert as officers search for an armed teenager in the Moncton and Shediac areas.

    • A Nova Scotia woman has applied for a medically assisted death, saying after years of battling to receive out-of-country surgery for an illness that causes 'indescribable' pain, she struggles to maintain the will to live.

    • A black bear that was tranquilized in a park in Dartmouth, N.S., has been released back into the wild, according to the Nova Scotia Department of Natural Resources and Renewables (DNRR).

    • The search for a missing six-year-old boy in Shamattawa is continuing Friday as RCMP hope recent tips can help lead to a happy conclusion.

    • Manitoba's government says it will encourage the development of renewable energy in the province while acknowledging fossil fuels aren't going away any time soon.

    • The Winnipeg Police Service (WPS) has made an arrest following a fire that claimed the lives of two people.

    • Driving into the tunnels of Nutrien's Rocanville mine, the largest potash mine in the world by production volume, feels like driving down a lonely highway in the middle of the night.

    • A tornado in Langbank, Sask. on Wednesday was the third latest in the province on record, according to Environment and Climate Change Canada (ECCC).

    • With the municipal election fast approaching, Yorkton’s city returning officer shared details on what people need to know before voting, and what to know if they are interested in running for city council.

    • Levels of hydrogen sulfide gas are being monitored at Brantford Collegiate Institute after a leak in their geothermal system.

    • Guelph resident, Susan Bard, is being remembered as a vibrant community advocate and volunteer who died doing what she loved – cycling.

    • The second-degree murder trial of Thomas Hamp is being adjourned until December so an expert witness central to the trial can testify.

    • A 69-year-old woman from Outlook, Saskatchewan is dead and three people are injured after a truck and SUV collided on Highway 15 on Thursday.

    • A gym teacher at a private Christian school in Saskatoon has been charged. Terra MacEwan, 44, is charged with assault with a weapon. A Saskatoon mother who spoke with CTV News says her autistic son was MacEwan's victim.

    • Emergency crews in northern Ontario found the bodies of four people inside a home where a fire broke out Thursday night.

    • Since she was a young girl growing up in Vancouver, Ginny Lam says her mom Yat Hei Law made it very clear she favoured her son William, because he was her male heir.

    • Two people emerged unhurt after a float plane had a hard landing late Friday morning on Lake Temiskaming.

    • The Elgin Community Health Hub, operated by the Thames Valley Family Health Team, is accepting new patients to a model where doctors are rarely seen.

    • Members of the 2SLGBTQ+ community and supportetrs greatly outnumbered the people attending a '1 Million March 4 Children' event along Central Avenue.

    • Today, the 71 year old is marking 50 years a paramedic. He said he never aspired to move into management or a desk job, he enjoys being on the road, helping patients too much.

    • Provincial police are investigating vandalism in Huntsville after the "senseless destruction" of flower displays along Main Street East.

    • Two men from Barrie have been charged after a deadly shooting at a park in Keswick on Wednesday.

    • A truck driver from Orillia is proof that saying yes to Encore can pay off in a big way.

    • Windsor police say a 25-year-old mother has been charged with the drowning death of her 5-year-old child in the family’s backyard pool.

    • Windsor fire is on scene at an incident on McDougall Street.

    • The Windsor Police Service is asking for help from the public following a break-and-enter at a home.

    • The Nuu-chah-nulth Tribal Council (NTC) has declared a state of emergency in all 14 of its member First Nations due to a mental health and opioid crisis.

    • In a rare move, the Greater Victoria School District Board of Education has been slapped with a ministerial order from the province requiring it to update a student safety plan – drawing concern around political posturing leading up to an election.

    • The Union of B.C. Municipalities is asking the provincial government to make transit free for teenagers.

    • A pair of runaway pigs are in the custody of an animal sanctuary in the Okanagan after evading police and volunteers for hours earlier this week.

    • The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.

    • Animal protection officers in British Columbia have rescued three pit bulls – including one that gave birth to 10 puppies – from a rat-infested home in Kelowna.

    • A Vulcan, Alta., man has been charged with a Lethbridge woman's murder after her body was found in the Oyen area.

    • A Lethbridge couple got a good reminder as to why you should keep your vehicle doors locked at all times.

    • Lethbridge residents who live near the police range can expect to hear plenty of shots fired Wednesday and Thursday.

    • Ontario Provincial Police say three suspects from southern Ontario have been charged and drugs worth $300,000 have been seized following a traffic stop Sept. 16.

    • A Brampton driver, 27, was charged this week when northern Ontario police stopped the SUV he was driving on Highway 17 after a reported shooting and found more than $100,000 in cash.

    • A new community health profile in the Algoma District shows the area is significantly below provincial averages in a number of health metrics.

    N.L.

    Stay Connected
    Follow CTV News