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News release
April 18, 2024

Federal government’s capital gains increase could impact access to care for Ontarians

April 18, 2024 — Proposed changes to the capital gains tax, announced this week in the federal budget, will negatively impact physicians in Ontario and ultimately affect access to patient care. The OMA has already heard from many of its members who have raised serious concerns about how this additional and unnecessary tax will affect their practices.   

Physicians are already subject to substantial challenges in funding due to significant inflationary pressures and this additional economic hardship puts further pressures on the viability and sustainability of a fragile system. This disincentive could force existing physicians out of practice and dissuade new grads from practicing in Canada.

Ontario and every part of the country are experiencing a physician human resources crisis and this proposal only contributes to this serious situation. The OMA is committed to working with all levels of government to support its members and ensure patients have access to the care they need. We look forward to federal government reconsidering this move and protecting the health and wellbeing of Canadians.

About the OMA

The Ontario Medical Association represents Ontario’s 43,000-plus physicians, medical students and retired physicians, advocating for and supporting doctors while strengthening the leadership role of doctors in caring for patients. Our vision is to be the trusted voice in transforming Ontario’s health-care system.

For more information, please contact:
Emily English
OMA media relations