The Canadian Chiropractic Association (CCA) welcomes the recent announcements from the Leader of the Official Opposition and some candidates of the Liberal Party of Canada leadership race to commit to reversing the proposed increase to the capital gains tax inclusion rate. This commitment will contribute to the financial stability of our members, many of whom are small business owners. Over the past year, CCA leaders have met with Members of Parliament from parties across the political spectrum to highlight the negative impact that an increase to the capital gains tax would have on our members, the profession, and the healthcare our members provide to Canadians.
We also welcome the federal government’s recent announcement to defer the implementation of the capital gains inclusion rate from June 25, 2024 to January 1, 2026 as the date on which the capital gains inclusion rate would increase. While this announcement is helpful in bringing more certainty to our healthcare professionals during the upcoming tax season, it does not go far enough. We continue to urge the federal government to fully cancel the capital gains increase for healthcare workers, including our members – Canada’s chiropractors.
As primary care providers, chiropractors play a vital role in the healthcare system, providing essential services to over 4.7 million Canadians each year. The increase to the capital gains inclusion rate risks stifling innovation and entrepreneurship within the chiropractic profession, disincentivizing individuals from establishing their own practices at a time when Canada is already facing a shortage of healthcare providers. At a time when primary care access is under significant strain, governments must use every possible tool to support the recruitment and retention of health professionals.
The CCA appreciates the Official Opposition for standing with Doctors of Chiropractic and calls on all parties to advocate against tax measures that harm chiropractic businesses and the patients that we serve. The CCA remains committed to working with all political parties and all levels of government to address the challenges facing our industry.
To view the CCA’s joint statement with the Canadian Dental Association and the Canadian Association of Optometrists, click here.
About the Canadian Chiropractic Association
The Canadian Chiropractic Association represents Doctors of Chiropractic across Canada who treat and manage musculoskeletal conditions that impact the health of millions of Canadians. Every year, at least 4.7 million Canadians rely on chiropractors to help them manage the serious burden of musculoskeletal pain and disease. As one of Canada’s largest primary contact health care professions, chiropractors provide evidence-based, non-invasive, drug-free manual therapies.
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Media Contact:
Madison Ciponi, Manager of Government Relations, Canadian Chiropractic Association