Tax Accountant for Doctors in Ontario

Specialized bookkeeping, incorporation, and tax planning for physicians, specialists, and medical practice owners across Ontario

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AFFORDABLE Accounting Services for Doctors

At Gondaliya CPA we offer expert accounting and tax services tailored specifically for medical professionals across Canada

Whether you are a family physician, surgeon, specialist, or a locum doctor working across multiple clinics we help keep your finances organized, fully compliant, and optimized for long-term tax efficiency

As trusted tax accountants for doctors we provide guidance and support at every stage of your career from residency to retirement so you can focus on your patients while we handle the numbers

Our personalized approach ensures you make the most of your earnings and plan confidently for the future

Official Partner

Accounting That Understands Your Practice

Accounting for doctors can be complex with OHIP billing, evolving government regulations, associate payments, and strict reporting requirements making it easy for finances to become overwhelming. Your practice needs accountants who truly understand how medical clinics operate

We help you stay compliant, organized, and financially confident. From reconciling monthly OHIP statements to managing multi-provider payroll, tracking clinic expenses, and minimizing CRA and HST audit risks, our healthcare-focused approach ensures accuracy and peace of mind. With clear reporting and systems designed specifically for medical professionals, you can focus on patient care while we take care of the numbers.

OHIP Billing Reconciliation

Ensure every claim is accounted for accurately and nothing falls through the cracks.

Multi-provider Payroll

Simplified payments for associates, physicians, and locums, tailored to healthcare workflows.

Expense Management

Track, categorize, and optimize clinic expenses to improve profitability and transparency.

CRA/HST Audit Risk

Stay compliant and avoid CRA audit headaches with professional guidance.

Managing Multiple Income Streams as a Physician in Ontario

Many physicians in Ontario juggle income from multiple sources—hospital salaries (T4), OHIP billings, and locum contracts. Each stream has unique tax implications and reporting requirements. Without careful management, you may face unexpected tax liabilities or missed deductions.

Our CPA team specializes in consolidating these income sources, ensuring accurate reporting and maximizing allowable expenses, so you can focus on patient care without worrying about CRA compliance.

Stay Compliant and Minimize Tax as a Doctor

Doctors must maintain accurate records of all income and expenses to ensure compliance and optimize tax savings. This includes proper documentation of OHIP billings, clinic revenue, and any applicable HST/GST. Staying on top of filing and payment deadlines for corporate and personal taxes, payroll, and HST/GST remittances is essential to reduce audit risk and keep your practice running smoothly.

Professional Corporations and Structure

Medical professional corporations allow doctors to operate their practices as separate legal entities. Many doctors also consider holding companies to manage investments or future business ventures. The primary structuring goals include limiting personal liability, deferring taxes, and—where permitted—income splitting with family members. Proper setup ensures your practice is both legally compliant and tax-efficient.

CRA, HST, and Record‑Keeping

Doctors must maintain accurate records of all income and expenses to meet CRA obligations. This includes documenting billings, operating costs, and any applicable HST/GST. Timely filing of corporate and personal tax returns, payroll remittances, and HST payments is critical to avoid penalties and minimize audit risk. Clear, organized record-keeping also simplifies financial reporting and supports long-term practice planning.

Personal and Corporate Tax Integration

Tax planning for doctors involves coordinating the medical corporation’s T2 return with the physician’s personal T1 return. Decisions around salary versus dividends impact both personal cash flow and corporate tax efficiency. High-level planning also considers RRSP and TFSA contributions for retirement and savings goals, ensuring personal and corporate finances work together seamlessly.

Why Choose Our Doctor Tax Services?

Medical-Specific Tax Knowledge

We understand the unique CRA rules that apply to physicians, such as deductible licensing fees, scrubs, CME courses, practice management software, and more. We’ll ensure nothing is missed.

Incorporation & Compensation Planning

We’ll guide you through incorporating your medical practice, setting up a Medical Professional Corporation (MPC), and structuring your salary and dividends for tax optimization.

Multi-Income Tracking & Expense Separation

Whether you work at multiple clinics, bill under OHIP, or earn private consulting income, we make sure all your income streams are tracked and categorized accurately.

Tax Planning for Your Career Stage

From first-year residents to retiring doctors, we provide tailored CPA guidance at every stage—helping you plan for RRSPs, TFSAs, family trusts, and more.

Fully Licensed CPA Ontario

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ACTIVELY ACCEPTING Corporate Clients

Will cover personal tax filing for Directors & Families

Convenient Availability

Weekend and evening support until 9 PM

Always Within Reach

Just a call away when you need us

Accounting and Tax Services for Doctors

Corporate Tax Filing for Doctors

Professional Corporate tax preparation and return filing, ensuring accuracy and CRA compliance.

Accounting & Bookkeeping for Doctors

Reliable bookkeeping and accounting with financial statements, records, and reporting.

Corporate Tax Planning for Doctors

Smart Corporate tax planning to optimize savings, reduce liabilities, and maintain compliance.

Catch-Up Corporate Tax Filing for Doctors

File overdue corporate tax returns, clean up missing records, and get your business back into CRA compliance with accurate, stress-free catch-up filing support.

GST/HST Filing for Doctors

Affordable GST/HST filing to help your business stay compliant, maximize input tax credits, and avoid CRA penalties.

Corporate Tax Cleanup for Doctors

Resolve past corporate tax issues and bring your filings fully compliant and up to date.

CRA Audit Resolution Services for Doctors

Expert support to handle Canada Revenue Agency audits, disputes, and negotiations with confidence.

Trust and Estate Tax Returns (T3) for Doctors

Expert preparation of T3 returns to ensure compliance and minimize taxes for trusts and estates.

Incorporation Services for Doctors

Incorporation services in Toronto for smooth business formation, entity setup, and start-up support.

Accounting and Tax Services for Doctors

Real, practitioner-level CPA expertise for family physicians, specialists, locums, and clinic owners across Ontario — built for how medical practices actually operate.

Corporate Tax Filing for Doctors

We file your medical professional corporation T2 return with OHIP fee-for-service income mapped to the correct GIFI revenue codes so CRA's automated matching against provincial payment records does not flag your doctor corporate tax filing for review.
CMPA dues paid by your medical professional corporation are deductible on the T2 return, but CRA requires them classified as a professional membership expense — not lumped with general insurance — to avoid reclassification on your doctor corporate tax filing.
We claim the Accelerated Investment Incentive on new medical equipment purchases on Schedule 8 of your doctor T2 return, allowing a full first-year CCA write-off on diagnostic devices and clinic technology acquired before fiscal year-end.
Locum income earned through your medical professional corporation must be reported on the T2 return for the fiscal year in which services were rendered, not when the OHIP remittance arrives — we accrue locum receivables properly on your doctor corporate tax filing to avoid CRA timing adjustments.
We reconcile associate physician fee-for-service payments against T4A slips before filing your doctor corporate tax return, ensuring amounts reported to CRA match what each associate actually received from the clinic during the calendar year.

Accounting & Bookkeeping for Doctors

We reconcile your monthly OHIP remittance statements against bank deposits and practice management software reports so every fee-for-service payment is recorded in your doctor bookkeeping — even when OHIP clawbacks reduce the expected deposit.
For group practices, we set up separate revenue tracking for each associate physician's patient billings and collections in the doctor accounting system, so monthly compensation splits are calculated from actual production data, not estimates.
We categorize CMPA premiums, CPSO licensing fees, CME course expenses, and hospital privilege fees as distinct expense lines in your doctor bookkeeping chart of accounts so each deduction is identifiable at year-end and during CRA review.
We track on-call stipends, hospital salary T4 income, and OHIP billings as separate income classes in your doctor accounting, giving you clear visibility on each revenue stream without manual spreadsheet reconciliation.
We configure your doctor bookkeeping in Xero or QBO to flag clinic lease payments, medical office assistant wages, and locum coverage fees as separate expense categories, ensuring your clinic overhead reporting is accurate for lenders and internal review.

Corporate Tax Planning for Doctors

CPSO permits non-voting shares in your medical professional corporation, so we structure family members as shareholders to multiply access to the $1.25M Lifetime Capital Gains Exemption on a future practice sale through proper doctor tax planning.
We model salary versus dividend splits for physician-owners based on your medical professional corporation's active income level, targeting the $500,000 Small Business Deduction threshold while maximizing personal RRSP room through doctor corporate tax planning.
Our doctor tax planning includes annual passive investment income monitoring to keep your medical professional corporation below the $50,000 threshold that claws back the Small Business Deduction, preserving the 12.2% combined rate on active practice income.
For physicians on alternative funding plans where income flows through the hospital, we plan the optimal draw structure from your medical professional corporation to minimize combined personal and corporate tax as part of your doctor tax planning strategy.
We coordinate your medical professional corporation's fiscal year-end with bonus accrual declarations so salary expenses are deductible in the current corporate period and taxable to you personally in the following calendar year — a key doctor tax planning deferral technique.

Catch-Up Corporate Tax Filing for Doctors

If your medical professional corporation has two or more years of unfiled T2 returns, CRA can revoke your business number and CPSO may question your standing — we file all outstanding doctor catch-up corporate tax returns and negotiate penalty relief.
We reconstruct missing clinic revenue from OHIP remittance statements, hospital payment records, and bank deposits when your doctor catch-up corporate tax filing requires financials for years where bookkeeping was never completed.
Late doctor corporate tax filing penalties compound at 5% plus 1% per month on unpaid tax — our catch-up filing service prioritizes the oldest unfiled year first to stop this accumulation and restore your medical professional corporation to CRA compliance.
For physicians who changed from sole proprietorship to a medical professional corporation mid-year without proper transition filings, we prepare both the final personal T2125 and the first corporate T2 as part of the doctor catch-up corporate tax filing.
We review unfiled periods for missed CCA deductions on medical equipment and clinic leasehold improvements, ensuring your doctor catch-up T2 returns claim every legitimate deduction rather than just reporting income and paying maximum tax.

GST/HST Filing for Doctors

Most physician services billed through OHIP are HST-exempt under the Excise Tax Act, but medico-legal reports, independent medical examinations, and consulting opinions for insurers are taxable — we separate these on your doctor GST/HST return to avoid CRA reassessments.
We claim ITCs on taxable clinic overhead — office supplies, practice management software subscriptions, cleaning services, and non-exempt equipment maintenance — that many doctor practices miss on their GST/HST return each filing period.
Walk-in clinic owners collecting a percentage of associate physician billings must determine whether the clinic fee itself triggers HST obligations — we review your doctor clinic fee structure and file the GST/HST return with the correct treatment to prevent CRA adjustment.
For physicians earning income from both exempt OHIP services and taxable consulting, we allocate ITCs proportionally on your doctor GST/HST return using CRA's prescribed methods so you recover the maximum credit without overclaiming on shared expenses.
For doctors near the $30,000 threshold from non-OHIP taxable services, we monitor your consulting and medico-legal revenue to determine the exact quarter your practice must register for GST/HST, preventing retroactive assessment of uncollected tax plus interest.

Corporate Tax Cleanup for Doctors

We correct misclassified medical equipment CCA pools where previous accountants grouped diagnostic devices (Class 12) with office furniture (Class 8), recovering years of lost depreciation deductions on your doctor corporate tax cleanup.
Our doctor corporate tax cleanup reconciles historical OHIP income against T2 reported revenue for each prior year, identifying discrepancies that could trigger CRA matching reviews and correcting them through amended corporate tax filings.
For medical professional corporations where locum payments were inconsistently reported as salary versus contractor fees, we reclassify and amend T4/T4A slips as part of your doctor corporate tax cleanup to match CRA records.
We rebuild the shareholder loan account on Schedule 50 for medical professional corporations where owner draws, CMPA reimbursements, and personal expenses were never separated — preventing ITA subsection 15(2) income inclusions during doctor tax cleanup.
Our doctor corporate tax cleanup fixes retained earnings carryforward errors caused by changing accountants, ensuring your medical professional corporation's Schedule 100 balance sheet matches the actual equity position for lenders and CPSO compliance reviews.

CRA Audit Resolution for Doctors

CRA frequently audits doctor practices on associate physician classification — we defend your T4A independent contractor treatment using proper clinic engagement agreements and control-test documentation as part of your doctor CRA audit resolution.
When CRA questions OHIP revenue discrepancies between your medical professional corporation's T2 return and provincial payment data, we reconcile every OHIP remittance statement and prepare a documented response for your doctor CRA audit resolution.
We respond to CRA requests for clinic payroll records by presenting PD7A reconciliations, T4 summaries, and locum payment documentation in an organized audit package that demonstrates full doctor payroll compliance.
For physicians flagged on home office or vehicle expense claims, we prepare CRA audit resolution submissions with mileage logs, clinic-versus-hospital travel documentation, and ITA section 18(12) workspace calculations specific to doctor practice patterns.
We submit RC4288 Taxpayer Relief requests as part of doctor CRA audit resolution when penalties resulted from a previous accountant's errors on your medical professional corporation filings, documenting the circumstances to maximize penalty cancellation.

Trust & Estate Tax Returns (T3) for Doctors

A family trust holding non-voting shares of your medical professional corporation distributes dividends to adult beneficiaries at their lower marginal rates, and we prepare the T3 trust return with proper doctor income allocations and T3 slips each year.
When a physician passes away, we coordinate the final T1 return with the T3 estate return to ensure accrued OHIP receivables and outstanding patient billings are reported in the correct filing period, preventing double taxation on doctor estate income.
We prepare T3 returns for inter vivos trusts established during doctor succession planning, reporting investment income earned on funds transferred from the medical professional corporation while maintaining CRA compliance on all trust distributions.
For estates holding shares in a medical professional corporation, we calculate the deemed disposition at fair market value on death and apply the spousal rollover under ITA subsection 70(6) where eligible to defer capital gains on the doctor T3 estate return.
We file T3 slips for every beneficiary receiving distributions from a doctor estate trust, meeting the CRA deadline to avoid the $25 per day per slip penalty and ensuring each family member reports their allocated income correctly.

Incorporation Services for Doctors

Ontario physicians must incorporate as a Medical Professional Corporation under CPSO regulations with a valid Certificate of Authorization before billing OHIP through the corp — we handle the full doctor incorporation process including NUANS search and articles of incorporation.
We design a multi-class share structure at doctor incorporation — common voting shares for the physician, non-voting shares for family members — to support future income splitting and estate planning without requiring costly articles of amendment later.
As part of doctor incorporation, we register your medical professional corporation for a CRA Business Number, GST/HST account (if applicable based on non-OHIP service mix), and payroll account so your practice is fully operational and CRA-compliant from the first billing day.
We prepare the opening balance sheet and minute book for your medical professional corporation, including initial director resolutions, share certificates, and shareholder register, so your doctor corp passes CPSO compliance review immediately after incorporation.
For physicians transitioning from sole proprietorship, we coordinate the ITA section 85 rollover of practice assets — medical equipment, goodwill, accounts receivable — into the new medical professional corporation at elected amounts to defer capital gains and recapture on doctor incorporation.

Avoid Tax Surprises: Installments and Early-Career Planning

Early-career physicians often underestimate the need for CRA tax installments. Late payments or miscalculations can lead to interest charges and penalties. We help you project your annual tax liability, set up installment schedules, and implement strategies to minimize taxes legally.

By planning from day one, you reduce stress, optimize cash flow, and safeguard your income as your practice grows.

When to Incorporate Your Professional Medical Corporation

Incorporating as a Professional Medical Corporation (PMC) can provide significant tax advantages, including income splitting, deferred taxes, and enhanced retirement planning. However, timing is critical. Incorporating too early or too late can limit benefits.

We guide Ontario physicians through the PMC process, from choosing the right corporate structure to filing with CRA and CPSO requirements, ensuring compliance and maximum financial efficiency.

Understanding OHIP Billings vs Hospital Salaries

Income structure varies by hospital, specialty, and practice type. OHIP billings are often self-reported and subject to CRA rules for professional expenses, while hospital salaries are T4-reported with different deductions. Misunderstanding these distinctions can trigger audit risks or missed savings.

We provide clear guidance tailored to Ontario physicians on reporting, claiming expenses, and planning for a mix of OHIP and hospital income.

Tax and Regulatory Guidance for International or Non-Resident Physicians

Internationally trained physicians or non-resident doctors face additional complexities when practicing in Ontario, including LMIA requirements, CPSO registration, and CRA tax obligations. Mistakes can delay practice start dates or lead to compliance issues.

Our team helps non-resident physicians navigate regulatory pathways, tax residency rules, and income reporting, so your transition to Ontario practice is smooth and fully compliant.Income structure varies by hospital, specialty, and practice type. OHIP billings are often self-reported and subject to CRA rules for professional expenses, while hospital salaries are T4-reported with different deductions. Misunderstanding these distinctions can trigger audit risks or missed savings.

We provide clear guidance tailored to Ontario physicians on reporting, claiming expenses, and planning for a mix of OHIP and hospital income.

Free Resource: 50 Deductible Expenses for Doctors

Comprehensive checklist of tax-deductible costs unique to Doctors. PDF delivered instantly.

Free CPA Consultation for Doctors

Case Studies

New Attending – Toronto

Problem: Unsure how to structure finances and taxes as a newly practicing doctor

Solution: Incorporated early and created a clear plan for tax efficiency and long-term savings

Result: Confident financial foundation and optimized tax savings from the start of the career

Clinic Owner – Ottawa

Problem: Spending too much time on bookkeeping and administrative tasks

Solution: Outsourced bookkeeping and implemented organized financial systems

Result: More time to focus on patient care and business growth

Established Physician – Mississauga

Problem: High audit risk and irregular cash flow from multiple income sources

Solution: Implemented structured accounting and tax strategies to reduce risk and streamline cash flow

Result: Peace of mind, consistent cash flow, and minimized audit exposure

How We Work: Your Year-End Flow

Step 1

Kickoff

Collect clinic documents, chart of accounts, previous filings, and OHIP statements.

Step 2

Cleanup & Setup

Organize books, integrate Xero/QBO, set up multi-provider payroll, and streamline clinic expense tracking.

Step 3

Monthly Close

Reconcile OHIP, run payroll, and submit HST/tax remittances.

Step 4

Quarterly Planning Review

Review tax planning, budgeting, cash flow, and compensation structures.

Step 5

Year-End Close & T2 Filing

Prepare trial balance, financial statements, corporate tax filing, and CRA audit-ready documentation.

Get Your Practice Tax-Ready Today

Transparent Pricing for Doctors

Pricing

We believe in clear, upfront pricing so you know exactly what to expect.

- Tax Preparation (Corporation): From $400
- Tax Return Filing (Corporation): From $400
- Tax Compliance Audit – FREE CRA audit support for our clients
- Tax Strategy: FREE for our clients
- Accounting Base Plan – From $100 / month
- Bookkeeping Management (Free for our Accounting clients)
- Financial Reporting (Free for our Accounting clients)
- Business Formation: Flat $35
- Incorporation Process: Flat $35
- Entity Setup Assistance: Flat $35
- Full-Service Payroll: From $125 per month

Meet Your Lead Doctors Tax Accountants

Sharad Gondaliya, CPA

Bio Principal 647-212-9559 sharad@gondaliyacpa.ca

Vandana Goel, CPA

Bio Accounting Specialist 647-250-0242 vandana@gondaliyacpa.ca

Step-by-Step Regulatory Onboarding for Ontario Physicians

Successfully practicing in Ontario requires careful navigation of CPSO licensing, CMPA coverage, and OHIP enrollment. Missing steps can delay patient care or expose you to liability.

We provide a comprehensive checklist and advisory service to ensure all registrations, fees, and compliance obligations are met on time, giving you peace of mind and a seamless start to practice.Early-career physicians often underestimate the need for CRA tax installments. Late payments or miscalculations can lead to interest charges and penalties. We help you project your annual tax liability, set up installment schedules, and implement strategies to minimize taxes legally.

By planning from day one, you reduce stress, optimize cash flow, and safeguard your income as your practice grows.

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We provide full-service accounting for physicians and medical practices — including accounting & bookkeeping, CFO services, tax preparation & filing, tax planning, payroll services, and incorporation services.

Do you prepare and file taxes for medical professionals?

Absolutely — we manage corporate, personal, and self-employed tax returns for doctors, ensuring compliance and maximizing deductions.

How does your tax planning help physicians save money?

Our tax planning services identify deductions and strategies tailored for doctors, helping you minimize tax liability and retain more of your income.

How do your accounting and bookkeeping services benefit doctors?

We handle precise record-keeping for your practice, track expenses, and provide cloud-based solutions to help you maintain financial clarity.

Can you manage payroll for clinic staff and associates?

Yes — we handle payroll processing, source deductions, remittances, and compliance so you can focus on patient care.

What can doctors write off on taxes?

Common deductions include CME courses, licensing fees, practice software, home office expenses (if applicable), insurance premiums, and scrubs. We’ll ensure full CRA compliance.

Do you provide ongoing advisory or growth planning for medical practices?

Through our CFO and tax planning services, we offer ongoing financial guidance to help your practice grow sustainably.

Do you work with doctors at multiple clinics?

Yes. We help track income from OHIP, private billings, and multi-site employment—all organized for smooth tax filings and cash flow clarity.

What’s the best way to structure my income as an incorporated doctor?

We help you determine an optimal mix of salary and dividends, taking into account tax brackets, RRSP contribution room, CPP, and long-term planning. Every structure is customized to your lifestyle and goals.

Do you help with CRA compliance for doctors?

Yes — we ensure your bookkeeping, payroll, and tax filings comply with CRA requirements.