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How Provincial Variations and Non-Tax Issues Can Impact Your Compensation and Income as an Incorporated Physician

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IMPORTANT NOTICE: Professional medical corporation information on MD’s web site is based on existing incorporation rules which may be impacted by proposals announced in the Department of Finance’s policy paper entitled “Tax Planning Using Private Corporations.”  MD is monitoring these proposals and we will update our tax planning strategies accordingly should rules change. For more details, please read MD’s blog Tax Planning Using Private Corporations, What’s Next: A Summary of Finance Announcements. 
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\\\\\\\\nDepending on the method of compensation that you choose as an incorporated physician, the province in which you reside can have significant impact on what regulations you must follow and how your income is taxed. Physicians often use their incorporated practice as a “savings vehicle,” and the current and investment tax gaps can both impact the corporation’s tax efficiency. The impact can vary by province and territory. For example:  \\\\\\\\n\\\\\\\\n