Capital gains tax: Alberta doctors decry federal increases [Video]

Federal tax changes could soon make it difficult for people to find a family doctor, says the Alberta Medical Association.

Dr. Paul Parks, the president of the advocacy group for the province’s physicians, says the changes will cripple doctors’ ability to save money for things such as retirement and make it harder to keep family physicians in the country.

The federal government in its budget presented last month proposes making two-thirds rather than one-half of capital gains — or profit made on the sale of assets — taxable.

The increase in the so-called inclusion rate would apply to capital gains above $250,000 for individuals, and all capital gains realized by corporations.

Ottawa says the changes will only affect the rich, but Parks says average-income family doctors will be left paying the price.

“There’s a perception that physicians are making millions of dollars a year. That’s not the case,” Parks told …