Survey finds Canadians concerned about impact of capital gains tax on healthcare access

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Canadians worried capital gains tax will affect access to healthcare: survey



“Canadians Concerned About Capital Gains Tax Impact on Healthcare”

With the recent announcement of proposed changes to the capital gains tax in the federal budget, many Canadians are expressing worries about how it will affect their access to healthcare, particularly in acquiring or retaining family physicians. A new survey conducted by Abacus Data sheds light on the concerns and sentiments of Canadians regarding this issue.

**Survey Results and Public Perception**

The survey, which polled 1,500 Canadians between April 30 to May 1, revealed that approximately 58% of respondents were aware of the proposed capital gains tax changes, with only a quarter of them supporting the idea. The prevailing sentiment among the respondents was a widespread belief that these changes would have a negative impact on the healthcare system, potentially resulting in longer wait times to see family physicians and a decrease in the number of family physicians practicing.

**Physician Perspective and Potential Consequences**

The Canadian Medical Association has also voiced its concerns about the proposed capital gains tax changes, emphasizing that it could hinder physician recruitment and retention in Canada. The association argues that many physicians operate their practices as small businesses and rely on their professional corporations for retirement planning. With the increased taxation, there is a real risk of physicians leaving the profession or reducing their working hours, further straining an already stretched healthcare system.

**Implications of the Capital Gains Tax**

The federal government estimates that the changes to the capital gains tax could generate an additional $19.4 billion over the next five years. While the government sees it as a revenue source, critics like the Canadian Medical Association argue that it could have detrimental effects on the healthcare workforce. Physicians, who play a crucial role in providing healthcare services, may face financial challenges and uncertainties due to increased taxation.

**Conclusion**

As the debate over the capital gains tax continues, it is essential to consider the perspectives of both the government, seeking to boost revenue, and healthcare professionals, concerned about the implications on their practices and the overall healthcare system. Finding a balance that ensures fiscal sustainability without compromising healthcare access and quality is crucial for the well-being of Canadians. The discussion should involve all stakeholders to craft solutions that address the concerns raised and maintain a robust healthcare system for all.”



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