Is Doctors’ Retirement Savings Doomed?

Here’s a roundup of stories from The Canadian Press designed to bring you up to speed on what you need to know today…

Is Doctors’ Retirement Savings Doomed?

The Canadian Medical Association says the Liberals’ proposed changes to capital gains taxes will jeopardize doctors’ retirement savings.

The federal budget presented last week proposes to make two-thirds instead of half of capital gains – or the profit on the sale of assets – taxable.

The increase in the so-called inclusion rate would apply to capital gains above $250,000 for individuals, and to all capital gains realized by corporations.

Doctors typically integrate their medical practices and invest in their companies for retirement.

However, some financial experts insist that established professionals are not as doomed as they claim.

CEO of Integris Pension Management Corp. Jean-Pierre Laporte says professionals such as doctors can sell investments and open a registered pension scheme.

Here’s what else we’re watching…

Alberta NDP ready for first leadership debate

Naheed Nenshi, the former mayor of Calgary, is expected to be the center of attention when Alberta’s NDP leadership race holds its first debate tonight in Lethbridge.

But a Calgary political scientist expects the exercise to be more civil war than civil war.

Lori Williams of Mount Royal University says while each of the five candidates wants to distinguish themselves, they also don’t want to hurt the election chances for the next leader.

The new leader is due to be chosen in June after current leader Rachel Notley announced her plan to leave.

Also vying for leadership are Calgary MLA Kathleen Ganley, Edmonton ML-As Sarah Hoffman and Jodi Calahoo Stonehouse, and Gil McGowan, head of the Alberta Federation of Labour.

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Honda expected to announce an EV battery factory

Prime Minister Justin Trudeau, Premier Doug Ford and Honda executives are expected to announce today that the Japanese automaker is building an electric vehicle battery factory in Alliston, Ont., as part of a $15 billion investment.

Senior sources with information on the project told The Canadian Press that Honda is also retooling its Alliston assembly plant to produce fully electric vehicles.

The $15 billion project includes the renovated factory, an electric vehicle battery factory in close proximity, as well as two major battery parts factories elsewhere in Ontario.

There will likely be some capital investment from at least one level of government, but the sources say the deal will not involve manufacturing subsidies, which were used to persuade two other automakers to build battery factories in Ontario rather than in the United States, with are stimulus measures under the Inflation Reduction Act.

Instead, in its recent budget, the federal government proposed a 10 percent electric vehicle supply chain tax credit, which Honda could claim on top of an existing 30 percent clean technology investment tax credit.

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Mother issues air quality monitors after son’s death

The mother of a nine-year-old boy who died last summer is trying to prevent a similar tragedy this wildfire season.

Carter Vigh died of asthma aggravated by smoke from wildfires in 100 Mile House, British Columbia.

His mother, Amber Vigh, has teamed up with the BC Lung Foundation to launch Carter’s Project, which aims to bring air quality monitors to every community in the province.

The project will also educate people about how the air can be harmful, even in homes, schools or workplaces.

The Vigh family and the lung foundation will distribute box fans and HEPA air filters so people can make their own indoor air purifiers.

They will start at 100 Mile House on May 14 and hope to eventually expand the program across Canada.

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Tim Hortons is jumping into the theater with a new play

Tim Hortons will take center stage with a new theater production.

The fast-food chain says “The Last Timbit” will debut at Toronto’s Elgin Theater in June.

The production is loosely based on a 2010 snowstorm that was so bad that some in the Sarnia, Ontario region had to wait out the bad weather at a local Tim Hortons.

The play is produced by Michael Rubinoff, who was behind the hit production ‘Come From Away’.

The production comes as Tim Hortons celebrates its 60th anniversary year and looks to expand its afternoon and evening sales with flatbread pizzas and new bowls and wraps.

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This report by The Canadian Press was first published April 25, 2024.

The Canadian Press