Capital gains changes are really fair, Freeland says, as doctors cry foul – National [Video]

Prime Minister Justin Trudeau and Finance Minister Chrystia Freeland are continuing to defend the 2024 federal budget’s proposed changes to capital gains taxes, which some medical professionals are claiming could affect recruitment and retention of physicians in Canada.

Doctors and medical associations have been raising red flags about the proposed changes tabled last week in Budget 2024, which will see changes to how capital gains are taxed for some individuals as well as corporations.

While there’s a limit for individuals will only face the new higher inclusion rate of two-thirds – up from one-half – for realized annual gains above $250,000, the shift would apply to all such profits made by corporations.

Kathleen Ross, the Canadian Medical Association president, told the Canadian Press that 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 …