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.
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