No fee everyday banking
Set up direct deposit and skip the monthly fee. Free to open, and the Easy plan has no monthly fee. Worth doing if you will actually move your pay or your CRA deposits over, not if the card sits unused. Code BREMO2026.
Canadian physicians earn among the highest salaries in the country. See gross billings, take-home pay after expenses and taxes, and corporate tax strategies.
| Role / Level | Annual Salary Range | Median |
|---|---|---|
| Resident / Fellow | $60,000 – $85,000 | $72,000 |
| Family Physician (FFS) | $230,000 – $340,000 | $275,000 |
| General Internist | $290,000 – $420,000 | $345,000 |
| Cardiologist | $380,000 – $580,000 | $460,000 |
| Orthopedic Surgeon | $430,000 – $700,000 | $540,000 |
| Anesthesiologist | $350,000 – $560,000 | $440,000 |
| Psychiatrist | $260,000 – $400,000 | $320,000 |
| Province | Average Salary | Est. Take-Home (Monthly) |
|---|---|---|
| Ontario | $310,000 gross | ~$175,000–$200,000 take-home |
| British Columbia | $290,000 gross | ~$165,000–$185,000 take-home |
| Alberta | $320,000 gross | ~$185,000–$210,000 take-home |
| Quebec | $265,000 gross | ~$145,000–$165,000 take-home |
| Saskatchewan | $295,000 gross | ~$170,000–$195,000 take-home |
| Manitoba | $280,000 gross | ~$160,000–$180,000 take-home |
| Nova Scotia | $265,000 gross | ~$150,000–$175,000 take-home |
| New Brunswick | $270,000 gross | ~$155,000–$180,000 take-home |
Estimated Annual Take-Home Pay:
| Deduction | Amount |
|---|---|
| Gross Billings (Family Physician) | ~$310,000 |
| Overhead Expenses (~30%) | ~$93,000 |
| Net Practice Income | ~$217,000 |
| Personal Tax (if no corp) | ~$85,000–$95,000 |
| Corporate Tax (12.2% SBD) | ~$26,000–$32,000 |
| Tax Savings via Corp | ~$55,000–$65,000/yr |
Physician take-home pay varies enormously based on specialty, billing model (FFS vs salary/AFP), overhead, and corporate structure. Most Canadian physicians incorporate for major tax savings.
A medical professional corporation (MPC) taxes business income at ~12.2% rather than personal rates up to 53.5%. For a physician earning $250,000 net, incorporating saves $50,000–$70,000 in annual tax deferral.
Physicians maximize their RRSP (up to $32,490 in 2026), and many establish Individual Pension Plans (IPPs) that allow higher contributions. An IPP for an established physician can shelter $50,000+ annually.
Building investments inside your medical corporation accelerates wealth accumulation dramatically. The $50,000 passive income threshold for small business deduction eligibility requires careful management as portfolios grow.
The Capital Dividend Account (CDA) allows certain corporate gains to flow to physician-owners tax-free. Understanding CDA elections is essential for optimizing corporate investment returns.
Open a KOHO account with referral code BREMO2026 and get a $100 cash bonus. No monthly fees, cash back on purchases — the smart choice for Canadians.
Claim $100 Bonus →