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.

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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