Open Letter opposing the capital gains tax
Dear Prime Minister Trudeau and Deputy Prime Minister Chrystia Freeland,
The proposed changes to the capital gains tax as outlined in your 2024 budget disproportionately targets physicians and will have a detrimental impact on physician practices throughout Ontario, with far-reaching implications on the accessibility of patient care.
The vast majority of physicians are set up as professional corporations, which are deliberately targeted by the changes to the inclusion rate of capital gains. Physician corporations are not eligible for the lower capital gains inclusion threshold eligible to individuals.
Ontario’s physicians are already navigating substantial financial challenges, exacerbated by significant inflationary pressures. The capital gains tax increase will compound economic difficulties, threatening the viability of physician practices in communities and the sustainability of an already fragile health-care system.
The potential immediate and long-term repercussions are severe: experienced physicians may decide to retire earlier than planned before the increase takes effect on June 25, 2024, while new graduates may be deterred from establishing their careers in Canada.
This is particularly alarming given the current physician human resources crisis that Ontario, and indeed the entire country, is facing.
Ontario and every part of the country are experiencing a physician human resources crisis and this proposal only contributes to this serious situation.
We urge you to cancel the tax increase on doctors and prioritize the health and well-being of Canadians.
Signatories
Your signature will be added by OMA staff upon review.
Joseph Burley, Kingston
Wafik Abdel Malek, Georgetown
Jacques Buteau, Ottawa
Wilfrid Chan, North York
Jack Ceaser, Collingwood
Joe Cherian, Hamilton
Heather Boudreau, Sudbury
Steven Dilkas, Toronto
David Esdaile, Ottawa
Jason Datema, Burlington
David D'Souza, London
Malcolm Gibson, Guelph
Laval Grimard, Ottawa
Angela Good, Kitchener
Ian Hammond, Ottawa
Trudy Hall, Nepean
Kevin Fung, London
Duncan Innes, Sarnia
Aneel Kaushik, Ottawa
Juhu Kamra, Oakville
Gavin Hui, Missississauga
Peter Howard, Toronto
Hubert Ling, Markham
Neil Lazar, Toronto
Abhishek Narayan, Mississiauga
Julian Mathoo, Oakville
Warren Mason, Toronto
Stefan Potoczny, London
Chris Prescott, Elliot Lake
Thomas Richard, Peterborough
joe reisman, Ottawa
Nikhil Sangle, London
Navjeet Sangha, St Catharines
Steven Singer, Toronto
Samuel Silver, Kingston
Trevor Stryde, Port Perry
Roxanne Trangmar, Ottawa
Adam Stewart, Stirling
Taryn Williams, Cambridge
Constantine Zachos, Aurora
Ming Yu, Toronto
Mark Watling, London
Melissa Tyler, Brockville
Pardeep Nijhawan, Markham
Blair Wyllie, London
Newton Wong, Toronto
John Bertley, St Catharines
Dinesh Ananthan, Mississauga
Mojtaba Beheshti, Brampton
Rafik Beshara, Oakville
Girish Birdi, Ajax
rana botlani-esfahani, Toronto
John Burke, Ottawa
Carlos Chan, Thunder Bay
Sandeep Dhillon, Toronto
Roman Elinson, Toronto
Valter Feyles, London
Nitan Garg, Mississauga
Marvin Gelkopf, Toronto
Andrew Girvan, Ottawa
Justin Jain, Toronto
Srinidhi Jayaram, Kitchener
Norman Kalyniuk, Newmarket
Annie Kurian, Sarnia
Michael Lock, London
Ravinder Mankoo, Brampton
Jesse Maracle, Toronto
Edward McAlister, Toronto
Neil McAlister, Port Perry
William Nolan, Hamilton
John O'brien, Thunder Bay
Muhammad Fairoze Poonah, Georgetown
Stephen Preston, Peterborough
Shaffiq Ramji, Toronto
Charles Sabbagh, Ottawa
Paul Saad, Sutton
Maxwell Sauder, Toronto
Sandip Sengupta, Kingston
Martin Shack, Thornhill
Anupam Sehgal, Kingston
Ruhi Siddiqui, Ajax
kristin terenzi, Woodbridge
Joseph Thomas, Windsor
Cyrus Thomas, Kingston
Michelle van Walraven, Midhurst
Richard Whitlock, Hamilton
Robert Wu, Oshawa
Paul Ziter, Windsor
Samuel Yung, Richmond Hill
Nathan Wong, Oakville
Azhar Toma, Oakville
Carol Temins, Mississauga
Jamie Spiegelman, Toronto
Gamal Salama, Toronto
Jaskarn Sahota, Cambridge
Shehla Qadeer, Whitby
Jane Purvis, Peterborough
Serge Puksa, Hamilton
Karine Provost, Ottawa
Tyler Pitre, Toronto
Philippe Pinard, Renfrew
Yousha Mirza, Windsor
Karim Marzouk, Windsor
Eric Liang, Pickering
Dayton Kelly, Ottawa
Darren Kagal, Toronto
Hooman Hosseini Nik, Oro-Medonte
Stefan Hofer, Toronto
rob hekkenberg, barrie
Ken Heaton, Woodstock
Natasha Gill, Oakville
Payman Dehghani, Toronto
Robert Chen, Toronto
Fortunato Caronzo, Stoney Creek
craig campagna, lasalle
Jean-Claude Boily, Ottawa
Zeba Andari, Oakville
Daoud Arshat, Oakville
Ahmed Alsakha, Cornwall
Mohammed Al Haidari, Burlington
Jeffrey Alfonsi, Toronto
Ahmed Al Awamer, Toronto
Sanjay Agarwal, Brampton
Sumair Motiwala, Mississauga
Lisa Berger, Toronto
Meenakshi Natarajan, Mississauga
Omar Hajar, Sudbury
Neil Tangri, Mississauga
Shama Sud, Toronto
Matthew Milkovic, Chatham
Dan Cojocaru, Toronto
Ivan Chiu, Oakville
Stephen Burke, Vaughan
Glenn Surbey, Oakville
Russel Segal, Toronto
Peter Labruzzo, Woodstock
Darryl Huang, Richmond Hill
B Anne Howe, Aylmer
Paul Golubka, Mississauga
Peter Wells, Collingwood
Alex Lee, Ottawa
Quentin Nakonechny, Ottawa
Adam Rocker, London
Shaheed Sorathia, Belleville
Philip Chiang, Ottawa
Juan Glinka, London
Amro Lahlouh, Thunder Bay
Bader Alamri, Hamilton
Randa Bakhet, Mississauga
mahesh palanisamy, Toronto
Ana-Maria Misariu, Burlington
Adrian Fawcett, Toronto
Kimberly Reiter, Toronto
Syed Naqvi, Windsor
Dennis Lim, Markham
Raman Rai, Brampton
Kim Alexander, Brampton
Zachary Veitch, Barrie
Karima Khay, Ottawa
Randy Rizek, Woodbridge
Young Choi, Mississauga
Adam Norris, Dundas
Hesham Youssef, London
Leigh Sowerby, London
Sherif Tawadross, Milton
Chandan Bal, Toronto
Mina Ishak, Burlington
Jason Hsu, Ottawa
Christopher Haley, Kingston
Allan Lim, Mississauga
Manu Kaushik, Morriston
Scott Coles, Haliburton
Graeme Quest, Kingston
Thomas Cheung, Mississauga
Dongmei Sun, London ON
emmanuel simantirakis, Ottawa
Bishal Harry, Pickering
Sarah Oliver, Ottawa
Hanh Heather Duong, Whitby
Anthony Lyons, Barrie
Punkuj Chawla, London
Yogesh Taheem, Toronto
Michael Bishara, LaSalle
Ameer Aslam, Woodstock
Alex Dong, London
Graham Jacques, Morrisburg
Marilyn Crabtree, Morrisburg
Saira Zafar, London
Trang Son, Toronto
Eric Monteiro, Toronto
Dragos Nita, North-York
Navjot Nannar, Toronto
Tajinder Dhesi, Brampton
Mathew Silvaggio, Bowmanville