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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.

Benefits and opportunities of physician incorporation

The opportunity to save tax is certainly attractive, yet it’s necessary to analyze your personal financial situation and consider the risks and rewards before committing to a course of action. Integrate your corporation’s assets within your overall wealth management plan and take full advantage of opportunities to increase your net worth.

Private corporations and tax planning: what physicians need to know

In July 2017, the federal government proposed significant changes that could affect regularly implemented tax strategies used by private corporations, with the aim of “bringing greater fairness to the tax system.” MD has been tracking developments closely, on behalf of our physicians who are incorporated.

Wealth management strategies

Most physicians who incorporate their practice do so primarily for the tax advantages. Once the decision to incorporate has been made, however, there are additional strategies that can help you to derive more value from that decision.

Estate planning for incorporated physicians

Incorporation adds a level of complexity to estate planning, so you’ll need to take certain steps to ensure that the Canada Revenue Agency isn’t inadvertently a chief beneficiary of your estate!

When I decided to incorporate, MD helped me every step of the way.
Dr. Edward Kucharski, Family Physician
When I decided to incorporate, they helped me every step of the way.