Taking action on the proposed federal tax changes
Doctors of BC is advocating against proposed federal tax changes that, if implemented:
- Will have a negative impact on doctors to run their practices as small businesses in a sustainable manner
- Will also be felt by the patients who may be faced with reduced access to doctors and the medical services they provide
Doctors of BC, working with the Canadian Medical Association and other Provincial Territory Medical Associations, wants to see revisions made to the proposed tax changes that address the concerns raised by our members and physicians across Canada.
In our submission to the federal government we asked for the following:
- An extension to the consultation period given the complexity of the proposed changes. There is obvious controversy which must be addressed with accurate data – and this takes time.
- Grandfathering or some protection for recently retired folks who have the bulk of their retirement savings in their corporations. This applies to physicians and non-physicians alike. Minister Morneau has stated that changes will be on a go forward basis, and this is good, but questions remain about those close to retirement who will not be able to restructure their business without potential significant penalty.
- A detailed transition plan to mitigate potential effects on small business and personal financial stability. This includes a consideration of gender issues, as women with small businesses have interrupted work lives around childbearing and family care (even in 2017!), and the debt load of younger physicians.
- Consider defining what a reasonable amount is to keep in a corporation and what mechanisms could be implemented to ensure businesses have flexibility to weather unexpected circumstances and business owners are able to self-fund benefits and pensions.
Our submission to the federal government addressing the proposed tax changes can be found here.
You can read more about what we have to say on this critical issue here, as well as in President’s Letters and the President’s Blog.
For more detailed information on what the changes may mean for you, see the following documents from the Canadian Medical Association:
What we are doing
Doctors of BC is taking a decisive leadership role in advocating for the medical profession in BC.
Our actions include:
- Our submission to Minister of Finance has now been sent. You can find it here.
- Sharing the stories you are sending us – in our submission to the government, on our blogs, and through social media.
- Ensuring a leading and strong presence on social media and in digital communications. Follow us on Twitter and Like our page on Facebook.
- Working with the Canadian Medical Association and the Provincial Territorial Medical Associations to align our activities on all fronts and to maximize reach and influence.
What you can do
The voice of individual physicians is critical to successfully influence change in decision-making.
Here are some suggestions on how you can help:
- Send us your stories. Tell us how the proposed changes will impact you and your patients. We are collecting them and will be including them into the submission and on our website/social media. E-mail them to firstname.lastname@example.org or post them on our Facebook page.
- Write a letter to your MP. Download a letter template here (.docx). If you can, call your MP and arrange a meeting
- Be active on social media. We are seeing more and more opinion pieces and news articles supporting our position on the proposed tax. You can help expand the reach by sharing them and posting yourself as well. Use the hashtag #taxfairness to join the discussion.
- Here are some suggested tweets:
Proposed Fed. Tax changes will hurt doctors and their patients. We urge @Bill_Morneau @JustinTrudeau to reconsider! #TaxFairness
Federal Tax changes neg. affect small biz, including doctors. Why it's the wrong thing to do via @DoctorsofBC https://tinyurl.com/yajp79gp
- We're also providing a graphic for your use on Twitter. (Right click to save the image to your computer)
We've been hearing directly from members on how the proposed tax changes would impact them and their practice. In the coming weeks we will continue sharing your stories on the President’s Blog.
For more information
Have a question or concern? Connect with us at email@example.com.
We will be updating this page regularly.