If you do, you may be paying more taxes than you have to. Our Tax calculator is based on data from 2020 in Canada A mid-career Family Physician / Doctor with 5-9 years of experience earns an average total compensation of C$137,819 based on 15 salaries. For instance, the doctor is paid about $80 per year to look after a 20-year-old male patient; whereas she is paid about $440 per year to look after an 80-year-old female. Under current tax rates, the doctor’s after-tax income would be about $288,000. Salary calculations include gross annual income, tax deductible elements such as Child Care, Alimony and include family related tax allowances. Median Salary. Job titles and exact duties vary in this occupation and examples of some job titles are: medical doctor, general practitioner (GP) and family physician. Steps to Become a Family Doctor Given all of the above, and considering all of the education, training, skill, experience, responsibility, time overhead costs, and taxes required to provide care for a patient, do you feel a family doctor deserves to be paid: Sounds like a bargain – not to mention unsustainably undervalued. Salary Range. We calculate how much your payroll will be after tax deductions in Ontario. free digital subscription of hospital news! In return for this total flat rate payment of $200 per average patient per year, the family doctor agrees to provide all of the following 130 services: Again, all of the full details of each of these services can be found HERE . Generally, you can save on taxes if you provide your medical services through your own professional corporation, especially if you don’t spend all of the money you earn each year. Hospital News is Canada's health care newspaper since 1987. Hospital News is published monthly and is made available in distribution racks placed in high traffic areas in hospitals and related institutions across the country. The doctor may need to write a prescription for medications for the patient. If your corporation qualifies for the small business tax deduction, the first $500,000 of its income is taxed at a preferential tax rate of 15.5%. The Ontario government unilaterally cut physicians’ payments, so for instance, instead of being paid $33.70 for a general visit, a family doctor is now paid $32.64. Many Canadians have a family doctor they go to whenever they need medical care. According to the U.S. Bureau of Labor Statistics, the median annual salary for family and general practitioners, which include family doctors, was $201,100 in 2018. A typical full-time annual salary for … Doctors: Pay lower taxes and keep more of your earnings now, Complementary Medicine and Alternative Therapies, 2020 Professional Development and Education, 2019 Canadian Society of Hospital Pharmacists Supplement, 2019 Professional Development & Education, Liquid gold: Early delivery of mom’s milk gives NICU babies the best chance at getting stronger, Hospital physician appointment and appeal process prejudices patient care. After a few days it became evident that either most doctors have no idea what they pay in taxes, or that they pay far too much in taxes. His articles can be found here: (i) HERE and (ii) HERE . My family physician last year billed over 300,000 to the BC gov't, which surprised me. If more money is needed to satisfy annual living expenses, tax efficient distributions can be paid from the corporation.  For example, if the doctor has a stay-at-home spouse and two adult children at university who are shareholders of the corporation, the corporation could pay each of them a tax-free dividend of $47,000 from its $253,500 after-tax income. The Ontario government unilaterally cut physicians’ payments, so for instance, instead of being paid $33.70 for a general visit, a family doctor is now paid $32.64. Salaries in Ontario range from 33,900 CAD per year (minimum salary) to 599,000 CAD per year (maximum average salary, actual maximum is higher). After 11 years of training, a $200,000 debt, 60 to 80 hour work weeks, and ongoing sacrifices by my family, I work too hard to be blamed for something that isn't my fault. The list of the top 100 highest-billing physicians in 2015/16 illustrates this divide. 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