About This Webinar

Join Jonathan Tucker, CPA, CA, LPA, for a webinar that will offer a summary of the major components of the 2024 Federal Budget, announced on April 16th by Finance Minister Chrystia Freeland. This session is prepared specifically for healthcare professionals, including medical residents and physicians. The webinar will provide an in-depth analysis of how these budget changes are expected to impact your future income tax obligations and financial planning strategies along with planning points and strategies to mitigate the adverse impact from these new measures.

Webinar Details:

Date: Thursday, May 23rd
Time: 7:30 PM EST

In this webinar, you’ll receive clear explanations and practical examples of the budget’s provisions, based on the available information. Whether you’re well-versed in tax matters or new to the topic, you will gain valuable insights. Key topics to be covered include:

1. Capital Gains Inclusion Rate Increase

– The inclusion rate for capital gains will increase from 50% to 67% for gains exceeding $250,000 realized by individuals starting June 25, 2024. For corporations and trusts, the rate will be 67% without a threshold. This significant change impacts the tax-neutral principle of choosing legal vehicles for realizing capital gains.

2. Lifetime Capital Gains Exemption

– The lifetime capital gains exemption amount will increase to $1.25 million, with indexation resuming in 2026. This raises the potential cash tax savings from approximately $250,000 to over $400,000.

3. RRSP Home Buyers Plan

– The withdrawal limit for the RRSP Home Buyers Plan increases from $35,000 to $60,000, with a temporary extension to the repayment grace period of 5 years. This is particularly beneficial for medical residents planning to purchase their first home.

4. Crypto Asset Reporting Framework

– New reporting requirements will be introduced for Canadian crypto-asset exchanges and service providers. Understanding these changes is crucial for those involved in crypto investments.

5. Disability Supports Deduction

– The list of expenses qualifying for the disability supports deduction will be expanded, providing additional support to those who need it.

6. Future Federal Vacant Residential Land Tax

– A new consultation on a future vacant residential land tax will be initiated. This could affect investment and planning decisions.

7. CRA Audit Powers and Penalties

– Increased audit powers and new penalties for non-cooperation during audits will be implemented. Staying informed on these changes is essential for compliance and minimizing risks.

Although the topic may be technical in nature, our goal is to make this material accessible and straightforward. This webinar will offer practical insights and planning tips to reduce the impact of these proposed tax changes.

Reserve your spot now by registering here.


Jonathan Tucker accountant

Jonathan Tucker, CPA, CA, LPA

As the Managing Director of Tucker Professional Corporation, Jonathan Tucker is an innovative tax accountant and strategic tax advisor to hundreds of health professionals on: Tax Planning & Preparation; Accounting; Practice Management; Financial Planning.

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Tax Tip!!!

Did you know that we offer complimentary Canadian income tax return preparation services to qualifying medical residents and fellows?

Yes, you read that correctly. We’ll go over the next steps in this webinar.

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What Health Professionals Are Saying

Jonathan has been instrumental in helping manage my corporation. I appreciate his timely help, his dedication to educating me on accounting and his flexibility.

Dr. Michael VerboraChief Medical Officer, Aleafia Health | Medical Director, FieldTrip Health

Jonathan has transformed my understanding of taxation and medical accounting in an efficient and enjoyable manner. He has even sent personalized videos to explain next steps. His efficient use of technology has really made a huge impact on our interactions.

Ahmed TaherPresident, Resident Section at Canadian Association of Emergency Physicians

As a young health professional, I need a tax accountant that takes the time (a lot of time) to help me through tax planning and business decisions. Jonathan always makes himself available if you need advice on urgent matters, and is up-to-date on the latest technologies with online meetings and video calls.

Aaron LangdonDentist at Dr. Joe & Associates Family and Cosmetic Dentistry