Unintended consequences of the capital gains hikeMinister admits capital gains increases could cause family doctors to leave Canada. Not to worry, though, she says, we’ll just bring in more foreign trained docs. The CMA’s also warned that a hike to the capital gains tax will disproportionately impact family doctors who have been reinvesting excess earnings into their corporation, usually with an eye towards saving for retirement.
“It is completely unfair, late-in-the-game taxation for those physicians who did follow the rules of the day and save for their retirement inside of our professional corporations,” CMA president Kathleen Ross told CTV News.
The prospect of family doctors closing down en masse was put directly to Liberal Minister for Small Business Rechie Valdez in an appearance on CBC’s Power and Politics.
“We recognize that, but one of the things that we will continue to do is encourage foreign credential recognition … we’re encouraging bringing talent from other countries,” Valdez said.
You think healthcare is bad now, Health care will keep on going downhill. 'Working toward more foreign credential recognition' really mean we are lowering the standard just to get more foreign trainee rebranded as doctors. Right now i am seeing walk clinics are employing alot of foreign trainees called 'doctors'. Too many negative stories to tell but this is not the place to elaborate.