Health Minister Mark Holland, in response to capital gains tax increase concerns broached by the Canadian Medical Association (CMA), said doctors have “advantages” and can afford to pay more. Finance Minister Chrystia Freeland in her April 16 budget hiked the capital gains tax rates from 50% to 66%, a change that is set to go into effect June 25. CMA warned the steep tax hike, an $18 billion increase by federal estimates, would cost most doctors nationwide, according to Blacklock’s Reporter. “A doctor still has huge advantages under our tax system to be able to use incorporation as a tax deferral vehicle,” Holland testified Monday at the Commons Health Committee. Conservative MP Laila Goodridge questioned whether the Trudeau Liberals would answer doctors’ protests. “Do you disagree with the Canadian Medical Association?” asked Goodridge.“I do,” replied Holland.“How many more Canadians will be without a physician because of your tax increase?” asked Conservative MP Stephen Ellis.“I reject the premise of that question,” replied Holland.“How much worse will the shortage get when the tax changes take effect?” asked Ellis. “I reject the premise of that question,” repeated Holland.“I don’t think it is true or accurate and I can walk through the tax advantages that continue, that remain for doctors, which are very significant. Asking for a more just tax system is not the menace to our health care system.”“Did your government complete an analysis on the tax hikes?” asked Ellis.“I am not here to play your bizarre game,” replied Holland.“The question really is, did your government complete an analysis on the tax increases?” asked Ellis.“The analysis of the tax changes demonstrates very clearly we are asking those who’ve made an extraordinary amount of money through capital gains and had an incredible last five years to pay a little bit more so a nurse isn’t paying a higher marginal tax rate than somebody else,” replied Holland.“Could you table it with the committee please?” asked Ellis. “Yes, we have looked at it, and it was very clear that a nurse should not be paying a higher marginal tax rate than a multimillionaire,” replied Holland.“I think it’s important to recognize in the last five years capital gains, capital wealth, has expanded vastly. But for a personal support worker, I don’t hear the Conservatives asking about how do we improve the wages of the personal support care worker.”“I don’t hear the Conservatives talking about what is the wage and working conditions of a nurse. But when it comes to somebody making more than $250,000 a year, the fact they are going to go from 50% tax off to one third tax off over $250,000, suddenly they are interested. I think that is concerning.”More than 60% of the nation’s 96,000 doctors are incorporated, according to the CMA. Doctors were “disappointed and frustrated” with the tax changes, the association said in a June 14 statement.“Comparing fee-for-service physicians who not only pay income tax but also spend as much as 40% of their gross income on overhead costs like staff, essential medical supplies and office space to salaried employees confirms just how misunderstood this issue actually is,” wrote CMA. “This is deeply worrisome.”.This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
Health Minister Mark Holland, in response to capital gains tax increase concerns broached by the Canadian Medical Association (CMA), said doctors have “advantages” and can afford to pay more. Finance Minister Chrystia Freeland in her April 16 budget hiked the capital gains tax rates from 50% to 66%, a change that is set to go into effect June 25. CMA warned the steep tax hike, an $18 billion increase by federal estimates, would cost most doctors nationwide, according to Blacklock’s Reporter. “A doctor still has huge advantages under our tax system to be able to use incorporation as a tax deferral vehicle,” Holland testified Monday at the Commons Health Committee. Conservative MP Laila Goodridge questioned whether the Trudeau Liberals would answer doctors’ protests. “Do you disagree with the Canadian Medical Association?” asked Goodridge.“I do,” replied Holland.“How many more Canadians will be without a physician because of your tax increase?” asked Conservative MP Stephen Ellis.“I reject the premise of that question,” replied Holland.“How much worse will the shortage get when the tax changes take effect?” asked Ellis. “I reject the premise of that question,” repeated Holland.“I don’t think it is true or accurate and I can walk through the tax advantages that continue, that remain for doctors, which are very significant. Asking for a more just tax system is not the menace to our health care system.”“Did your government complete an analysis on the tax hikes?” asked Ellis.“I am not here to play your bizarre game,” replied Holland.“The question really is, did your government complete an analysis on the tax increases?” asked Ellis.“The analysis of the tax changes demonstrates very clearly we are asking those who’ve made an extraordinary amount of money through capital gains and had an incredible last five years to pay a little bit more so a nurse isn’t paying a higher marginal tax rate than somebody else,” replied Holland.“Could you table it with the committee please?” asked Ellis. “Yes, we have looked at it, and it was very clear that a nurse should not be paying a higher marginal tax rate than a multimillionaire,” replied Holland.“I think it’s important to recognize in the last five years capital gains, capital wealth, has expanded vastly. But for a personal support worker, I don’t hear the Conservatives asking about how do we improve the wages of the personal support care worker.”“I don’t hear the Conservatives talking about what is the wage and working conditions of a nurse. But when it comes to somebody making more than $250,000 a year, the fact they are going to go from 50% tax off to one third tax off over $250,000, suddenly they are interested. I think that is concerning.”More than 60% of the nation’s 96,000 doctors are incorporated, according to the CMA. Doctors were “disappointed and frustrated” with the tax changes, the association said in a June 14 statement.“Comparing fee-for-service physicians who not only pay income tax but also spend as much as 40% of their gross income on overhead costs like staff, essential medical supplies and office space to salaried employees confirms just how misunderstood this issue actually is,” wrote CMA. “This is deeply worrisome.”.This is what the Western Standard is up againstThe Trudeau government is funding lies and propaganda by directly subsidizing the mainstream media. They do this to entrench the powerful Eastern, woke and corrupt interests that dominate the political, social and economic institutions in Canada. Federal authorities are constantly trying to censor us and stop us from publishing the stories that they don’t want you to read. Ottawa may weaponize our taxes and police against us, but we’ve got a powerful ally on our side.You. Free men, and free women. We need you to stand with us and become a member of the Western Standard. Here’s what you will get for your membership:Unlimited access to all articles from the Western Standard, Alberta Report, West Coast Standard, and Saskatchewan Standard, with no paywall. Our daily newsletter delivered to your inbox. .Access to exclusive Member-only WS events.Keep the West’s leading independent media voice strong and free.If you can, please support us with a monthly or annual membership. It takes just a moment to set up, and you will be making a big impact on keeping one the last independent media outlets in Canada free from Ottawa’s corrupting influence.
