Canada's doctors say capital gains tax changes could impact care 

I think the whole thing about holding stocks for long term will always apply. So I think you should get a quality broker who is able to analyze and pick stocks that will do well in the long term, else you will be in a long bear ride.

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a broker, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.

This sound interesting. I’m not really one to use pro analysts, but I guess it would not hurt to try one. My portfolio is in the red waters right now

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

Not unless you are among the top 10%. If you guys were paying your fair share from the get go this would not have happened.

oh com'n do you really believe that only one person is involved and responsible? even with new government tax won't decrease

@@heartborne123 Yes the taxes change depending on who is in charge. Please learn how governments work.

@@selalewow, what’s fair share?

Said it would not effect 99.7 of the population. Only 10% of the population own anything?? And what's fair share.. indulge us?

You should run for the election and change how things are.

Too many leaches bro. Trust me too many you can't do anything even if you are in government. They have too strong of rights to get fired. The government have a tough job too

​@@AIDENHYUN-pp4gg I ran for MP back in the 90s because I thought I could change things for the better. Constituents voted for the liberal MP because he was a "good hockey player".

@@c.d.7742 I'm sorry to hear that. I was born after that so I didn't know that is how people voted back in 90s

@@AIDENHYUN-pp4gg I ran for Reform by the way, thinking I could help to change things for the better.

People prefer to spend money on liabilities, Rather than investing in assets and be very profitable.

You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio.

Making a living is becoming more challenging, and it's difficult for me to save enough to enjoy quality time with my loved ones.

Even though digital currency has taken over the world, people still work for people. So, why not consider buying stocks and crypto and holding onto them?

That's a great point! With the rise of digital currency, investing in stocks and crypto can be a smart move. It's a way to potentially grow your wealth and secure your financial future.

What nationality are you ?

Same here lol. Don't believe everything a news outlet posts

I have no doctor either

And you won’t now ever 😊

@@jgalt5002 seriously there are none taking patients its been years since my doctor retired

YES WE SHOULD !!! Maybe we could use Rosemary Barton’s lunch money to service the national debt 😂.

I don’t know why, but I see her and I think of the Flintstones Water Buffaloes … it’s like she was born with the helmet already in place.

@@jeffrorichard2765 🤣🤣🤣🤣🤣

I knew main stream media was fake from day one, when they called trudeau a mature, educated, well informed man, which he is none of these things. Nothing but an entitled trust fund baby. I did my homework on this guy long before he ran for PM. Too bad so many did not do their homework.

lmao, get a grip dude.

Did you misspell arrest?

@@wuhanflu9936 what part of get rid of Trudeau and Freeland, has the word arrest?

Freeland is actually jailland

They are stealing from the government and still crying about not getting enough. The government needs to clamp down on them

So tell Trudeau to fund the provinces more so they can hire more doctors.

yea remember when they all lied about covid and still wont tell the truth

​@michaelp4122 how they going to fund more doctors when the doctors don't want to stay in canada because we are tax so GD much

While I agree with what you're saying, the tax on the doctors is still a bad idea. It's probably going to make our medical care worse and I'm not sure what is to be gained from this. I think the Liberals are doing this to distract from the bad job that they have done by stirring up resentment against successful people.

What good intentions?

@@c.d.7742 to make everything; fair, equal, and you name it

After expenses, family doctors take home the same as you (for double the hours worked). Think about that.

@a004 unfortunately I can't post the article I just looked at but that's not correct. On average in Canada they take home $150,000.

@@a004That’s nonsense. They are remunerated very well. If they’re in a two income household they are in an even better position financially.

@@RxBanditvx they are far from struggling but I can see their complaints justified when an avg house goes from 2 mil to 5 mil in the major cities.

@@remionthemoon in bc or Ontario maybe but not everywhere

yes we do...stop being so greedy

It is on purpose. Trudeau is a member of the WEF. which is a global communist organization. Their plan is to bankrupt all of the western world, so they have complete control.

Shut it, Jess, adults are talking, not babies.

Exactly this is nothing but another attempt to gut the middle class by the bourgeoisie.

Keep crying

@@saltpeter500 Don’t need to, I now get part of her pension as compensation, and your paying.

@@winstonsmith935 do you mean you're, like you are?

@Rocksteady246 no, so why complain about it

Salt Peter’s wife was an accomplished male athlete in high school.

Nah they’re letting in third world ones

They're freaking out parents so much hoping they will home school.

Many European countries like Finland and Norway have free University education. No piles of personal debt for their medical doctors or University educated professionals. Canada could do that. But they won't under a neoLiberal or Regressive Conservative-led government, that's for damn sure.

The same thing happened to me. Are you in B.C.

@@elizabethmcleod246 Ontario.

My doctor gave up being my doctor because i was unvaccinated...

In Nova Scotia, it wasn’t even Zoom. Phone calls for skin conditions. Go to the ER and wait a day to be seen for minor issues. I have no sympathy

And most of the family physicians are still sitting at home and taking calls at their convenience and saving money on their clinic staff even after we all are done with COVID a long time back !!!

I’m in the same situation as doctors but I make alot less. I made $110 last year and took home $54,000 I think from all my fees, taxes etc… 😒 I have no pension or anything. I didn’t know I would lose so much and now I will lose more at the end do the day

@@Cafeallday222 have a son in the same place you are. Works 12 hours a day 20 days straight and he gets to keep less than half.

@@Cafeallday222 Jesus Christ you need to make almost 5x that in capital gains for this to even impact you . Who are you crying for ?

​@Cafeallday222 you made 110k and took home 54k? I make 70k and bring home just slightly less, Your math isn't mathing right.

@@typhon1861 oh boy. You see, the more you make the higher the percentage is that they take off. You pay 28%. Someone making 110000 pays 31%. So you see the higher earners are already paying more than you. Maybe you should pay your fair share. Someone earning 150000 pays 34% and on it goes.

Yeah, cause they are.

Exactly.

The US leadership, they dictate most of the pathway of most NATO countries when it comes to economics...

no kidding!!!!

@@jonah11111 British.

Meet the new boss, same as the old boss. The system is broken. There is no real choice.

@@Sheep-5491 That's the scam of demon-cracy. Most people still believe they have a say in what goes on just because they went into closet and ticked a box.

@@Sheep-5491 System isn't broken, it is working exactly as expected. The system of monetary-market capitalism is an anti-economy that is so inefficient in carefully managing resources, because it isn't based on peace and sustainability, it is based on ever-increasing consumption and profit growth, mainly by large corporations, off the backs of the exploited working class. This was always the trajectory of Late Stage Capitalism. Now we have a choice: Change the system or suffer the consequences of status quo. What would you prefer? Waiting on politicians to do anything progress is a lost cause. We need to unite as progressive citizens and create the change we want to see in the world and then push politicians to support it because we are actually creating "A Viable Society" as Peter Joseph puts it, that would eventually make politicians obsolete. What a wonderful world that would be! But I'm sure Canada doesn't need to be so fearful and ignorant that they install a Majority Regressive Conservative government in 2025. That very well may happen but it doesn't have to happen.

​@coolioso808 We live in a neoliberal Keynsian economy. Capitalism died nearly a century ago and was replaced by corporate-political collusion.

I doubt he voted Liberal. For starters in the last two elections they received 33 and 32 percent of the votes. That means two thirds of Canadians did not want the Liberals. He’s propped up by the fake Liberals. Formerly referred 5o as the NDP!

It's already why we have no doctors.

Truth. Doctors are the reason 28 % of Canadians over 15 are disabled. They are no longer doing proper differential diagnosis. Patients are being mistreated and neglected. It should be deemed criminal. They get away with murder. Doctors ARE above the law in Canada.

they are doing their best and more. You have to understand that we don't produce nearly enough doctors in this country (talk to the medical schools why they only have 7.5% acceptance rates vs in the US 36% acceptance rates). It's a messed up situation and I think they deserve lower hours and decent pay (and I think certain exceptions in terms of tax rates). The system is messed up and as usual no one is bothering to look into why things are happening. In my opinion the best thing you can do is vote for someone who understands how broken our regulation of services is and who wants to fix it. We need smart people who understand the problems and are interested in fixing them instead of coasting infinitely letting things get worse and worse. We don't put nearly enough effort into asking what the people who are supposed to represent us actually think and do.

@penguinpie5056 then maybe when people come in knowing their symptoms and wanting specific tests done to rule out stuff, you don't just clap them on the back and tell them sleep at the same time every day and drink more water.

@@gravegaming2023 You’ve got it. They are no longer listening to patients anymore and they aren’t doing a proper differential diagnosis. It’s negligence.

@@penguinpie5056 They are NOT doing their best.

Exactly. They are remunerated very well. Their sense of entitlement is ridiculous. Doctors make on average $233,000 CAD a year. They can pay more taxes.

​@@elizabethmcleod246 Doctor is a valuable skill required world wide. The market always prevails. Canada is hemorrhaging talent. Why would anyone who is wanted elsewhere stay here?

After expenses, (yes they do have expenses Virginia), student loans, malpractice insurance, staffing. Be thankful there are any doctors left.

So what are you going to do when all the doctors move to the US to make 500,000 a year instead? Instead of being upset at people who make more money, don’t you think we should be trying to keep people who help us around? If all the neurosurgeons leave, what do we do then?

The $250000 exemption doesn't apply for doctors' (and other) corporations. The exemption is $0 here.

​@@EugWanker You're right, it doesn't apply to the selling of the corp itself, which may be valued between 0.5 - 2 times a doctors annual salary (estimates i was able to find online). However, the primary benefit of incorporating as a doctor, as I understand it at least, is that you're taxed at 12% as opposed to the ~50%+ you would normally at that income bracket. Yes, you'll get hit by a 66% rate vs 50% when you sell your practice, but that's peanuts compared to the tax savings you retain over the span of an entire career from incorporating in the first place.

@@davemcansh5265 That's not what I was referring to and while I'm no tax accountant, I don't think your understanding is correct either. The main issue is capital gains of investments within the corporation. The counterargument that has been made is that one reason doctors were willing to accept lower increases in billing fees (which haven't kept up with inflation) when negotiating with provincial governments was because (at least in certain provinces) they were allowed to incorporate and take advantage of the 50% capital gains inclusion rate for retirement savings. With the federal government changing this to 67%, this results in a retroactive tax grab on retirement funds that spans decades. Basically, all the prior numbers generated by retirement planners for professional corporations will be invalid as of June 25, 2024.

@@EugWanker That's interesting, thanks for the insight. I'll need to look into this aspect more.

And if these companies reinvested in the company and workers instead of focusing on stock buybacks and hiding their money they would not be at this situation.

​@@selalewow how embarrassing.

Paying your fair share of taxes isn’t being screwed. Really before this anyone with inc behind their name was paying less taxes than they should have. You want be incorporated you need to pay the taxes. You don’t want to pay this tax don’t be incorporated it’s that simple.

@@selalewow You mechanic is not focusing on stock buy backs a guarantee you. They are focusing on a retirement nest egg that just got smaller. The fact is he is going after entrepreneurs retirements. I did see any additional taxes on government pensions.

@@MrWookie1981 Doctors have been gouging the Healthcare system for decades. I work in a hospital and see it daily.

I think he is worth much more, likely closer to 400 mill after all the kickbacks. He is the modern day prince of lies.

This only punishes doctors using an old tax loophole. This is very good for the medical community we don’t want grifters here.

Oh, please. The first $2.5 million isn't even touched. If you're a doctor (you aren't) and if you're making more than $2.5 million per year from your investments (you don't have any, do you), then you are rich enough to shut up and stop complaining. If you *are* complaining about the existence of this tax and you are *not* that rich, then you're a sucker for allowing them to set you up to complain on their behalf.

you don't understand how cap gains tax works

It seems they lost interest in truly helping people years ago and long before Covid came.

Would you care to explain, emoji-boy

Ya well we have a ridiculous corrupt government

@@EndofDays-7777 Very childish.

@@TheGruntskihe doesn’t understand

We found the Trudeau supporter.

lol

Is this a real question? Or are you just scrapping?

yes...ur lazy

@@jeffrorichard2765it’s stupid comment. The guy is a doctor. He’s talking about doctors.

The change the rules all the time and have for years.

Not if it's your primary residence

Tell me you don't understand primary residence exemption without telling me you don't understand primary residence exemption

Nope 😂

Advise you to watch the video again. No threshold for corporations.

@@brianyoon7612 Yep, that should be reiterated. There is no $250000 exemption for these corporations.

Exactly. I’d like to see Justin donate half of his $98 million, since he likes to tax “millionaires and billionaires” so much. I’m willing to bet he won’t. Because millionaire billionaires know the loop holes on how to not pay it.

Yup. We'll see a decline in professions like this across Canada.

Get a degree in gender studies and go work for Justin.😂

The vast majority won’t leave the country. The patients however will be neglected and misdiagnosed because of the doctors being resentful about the taxes.

Really? So you inherit a cottage from your family, that they bought for $20,000, and I was worth $800,000; then you should pay $400,000 in tax or get rid of your family cottage? Why does the government get your cottage ? It was paid for with money that was already taxed.. And if they were rich at the time, they played almost 50% of your income in taxes? You think that’s perfectly normal?

@@Ont785 ya it is stupid.

@@Ont785 math is hard for you eh?

@@klnrklnr4433 I was being facetious with the numbers, but the reality is, there shouldn’t be as much tax on it as there is. Many families inherit these properties, and they can’t afford them. The only way is to sell it, to rich people, and pay after taxes in a little bit of money. So screw you and my math issues, but the reality remains. How many times you gonna tax my money?

You’ve got that right. It’s greed.

Who the hell likes the carbon tax?

@@c.d.7742 Just an expression, they won't really like it, sort of sarcasm.

@@VortekStarling Ok sarcasm is lost online sometimes. I am sick of paying more taxes and seeing less in return.

Go start a co-op then, nobody is stopping you.

No more unions! They have already destroyed this country along with these moronic government officials

They already do.

Is that why every nurse I know has fled across the border?

@@Disgruntled_Canadian It is definitely easier for nurses to immigrate elsewhere. My sister-in-law did it 30 years ago, to Florida, and never looked back. There has been a nursing exodus for many years.

Truth

The 250k exemption does not apply since doctors invest through a corporation (listen to the video), they get taxed on the first dollar and retroactively . Basically if you are a person close to retirement that has built his pension all his life through a business, you just lost about 8% of your pension fund in one swoop from the government.