The Canadian Medical Association is asking the federal government to reconsider its proposed changes to capital gains taxation, arguing it will affect doctors害羞草研究所� retirement savings.

Kathleen Ross, the association害羞草研究所檚 president, says many doctors incorporate their medical practices and invest for retirement inside their corporations.

The proposed changes would increase taxes on those investments, something the association says will add 害羞草研究所渇inancial strain害羞草研究所� for doctors who do not have a pension to rely on.

Ross argues the change could also affect recruitment and retention of physicians in Canada.

Doctors are the latest group to come out against the tax change, which is expected to largely affect wealthier Canadians and businesses.

The federal budget presented last week proposes taxing two-thirds rather than one-half of capital gains, or profit made on the sale of assets.

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.

害羞草研究所淲e have seen this portrayed by the government as tax fairness for every generation. But realistically, there are certain members of the population that are going to be more impacted,害羞草研究所� Ross said in an interview.

The Liberal government has argued that the tax change is about levelling the playing field between those who earn income through capital gains versus employment.

They害羞草研究所檙e also selling the change as a way to make the wealthy pay more to support things like housing and health care for all Canadians.

But Ross pointed out that doctors would not be eligible for the $250,000 exemption to the higher inclusion rate, since the investments they make are largely inside corporations.

Physicians can still invest in a Registered Retirement Savings Plan 害羞草研究所� which is tax-advantaged 害羞草研究所� so long as they pay themselves a salary out of their corporation.

In a statement, a spokeswoman for Finance Minister Chrystia Freeland said the federal government is changing the capital gains inclusion rate 害羞草研究所渂ecause it害羞草研究所檚 unfair that a nurse pays a higher marginal tax rate than a multi-millionaire.害羞草研究所�

害羞草研究所淭hese changes are in addition to the $200 billion we are investing in health care and the enhanced forgiveness of student loans for doctors and nurses wanting to work in rural and remote areas,害羞草研究所� Katherine Cuplinskas said.

READ ALSO: