Physicians

Accounting & Tax Services for Doctors and Physicians in Ontario

Protect Your Practice. Minimize Your Tax Burden. Focus on Patient Care.

As a dedicated physician in Ontario, your focus should be on your patients, not on complex tax law, passive income rule changes, or the constant financial risk of a CRA review.

The financial landscape for Ontario doctors—especially those operating a Medicine Professional Corporation (MPC) is uniquely complex. Your high-income bracket demands a specialized tax strategy that goes far beyond annual filing.

We are dedicated to securing your wealth, maximizing your tax deferral, and providing defense against the Canada Revenue Agency (CRA).

CRA Protection

The moment you incorporate your medical practice, your financial complexity increases, and with it, your exposure. A generalist firm may handle your filing, but only a specialist can provide the proactive planning and robust representation necessary to face a potential CRA review.

We establish and maintain record-keeping that meets the highest CRA standards, focusing specifically on common physician expense areas that trigger audits (e.g., vehicle logs, home office claims, and shareholder loans).

Mismanaged shareholder accounts are a frequent CRA audit target. We ensure all personal draws and corporate investments are tracked and compliant, eliminating a major source of financial risk.

We know the boundaries of what the CRA allows for professional corporations, ensuring you claim every allowable deduction (CMPA fees, professional dues, continuing education, etc.) without crossing the line into non-compliance.

If a letter arrives, you forward it to us. We handle all communications, documentation requests, and negotiations with the CRA, allowing you to maintain your focus on your practice.

Tax Reduction

Your goal is not just to pay your taxes, but to pay the least amount required by law. For high-earning professionals, this means strategic planning around your personal and corporate tax rates.

Corporate Income Deferral Pay the low small business tax rate (approx. 12.2% in Ontario) on your corporate profit, deferring personal tax until you draw the funds. Maximizing the use of the Small Business Deduction limit and ensuring proper integration of corporate and personal tax. 

Income Splitting Strategically transfer income to lower-income family members (where permissible) to utilize their lower tax brackets, subject to Tax on Split Income (TOSI) rules. Advising on reasonable wages for family members involved in the practice. 

Passive Income Strategy Navigate the rules that claw back the small business deduction if your passive investment income exceeds $50,000. Strategic investment advice to minimize the impact of passive income on your corporate tax rate. 

You provide your patients with a clear plan for wellness. We want to do the same for your financial future.