OTTAWA,
ON, May 23, 2024 /CNW/ - The Canadian Medical
Association (CMA) continues to hear from physicians from coast to
coast to coast about the impact the proposed increase to the
capital gains inclusion rate will have on medical practices at a
time when access to community-based care remains a top concern for
Canadians.
"The reality is that the federal government is putting at risk
its own health care agenda, which is contingent on broadening
access to family medicine, the foundation of our health care
system," says Dr. Kathleen Ross, CMA
president. "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."
The CMA is deeply concerned that increasing the capital gains
inclusion rate for professional corporations will create yet
another barrier to retaining and recruiting physicians in a time
when our health system is already under constant strain. Many
community-based physicians have incorporated their practices as a
means of efficiently delivering health services to Canadians. Most
physicians also do not have access to employer or government
pension plans, benefits, sick leave, maternity leave or paid
vacation nor are they able to raise fees to cover new or rising
expenses. Instead, they rely on their professional corporations to
save for these important life events
Following the announcement of the capital gains changes,
physicians have raised several concerns with the CMA,
including:
- Shorter career spans: Most physicians start their career
in their 30s, following a decade or more of medical school. In
addition to carrying an average of $300,000 student debt, a physician's career span
is compressed making it even more difficult to save for
retirement.
- Health care infrastructure: Most physicians purchase or
rent the infrastructure required to provide medical care in the
community, such as office space, equipment, technology and staff.
New physicians will shift away from community-based medical
practice, causing a significant care and infrastructure
deficit.
- Physician shortage: Given the shortage of physicians
world-wide, creating favourable and enduring conditions to attract
and retain physicians are necessary if we're serious about
expanding access to care.
Canadians are also concerned about the impact of the capital
gain proposal on access to care. In a recent Abacus Data survey,
76% of those who shared an opinion about the policy proposal said
they would like to see government reverse the proposed tax
change.
The CMA remains convinced that an exemption for medical
professional corporations, which recognizes the various medical
practice structures that have been used by physicians for decades,
is needed to stabilize and future-proof access to community-based
medical care for patients today and into the future.
About
the CMA
The Canadian Medical Association leads a national movement
with physicians who believe in a better future of health. Our
ambition is a sustainable, accessible health system where patients
are partners, a culture of medicine that elevates equity, diversity
and wellbeing, and supportive communities where everyone has the
chance to be healthy. We drive change through advocacy, giving and
knowledge sharing – guided by values of collaboration and
inclusion.
SOURCE Canadian Medical Association