Canada's Prime Minister Justin Trudeau has dismissed a plea from doctors to reconsider his government's proposal to raise the capital gains tax. 

According to CBC, the Canadian Medical Association (CMA), the largest association of medical doctors in Canada, warned that the tax adjustment could jeopardize efforts to recruit and retain physicians in the country and affect doctors' retirement savings. 

Canada's Justin Trudeau Asks the 'Wealthiest to Pay a Little Bit More'

Speaking at Wanuskewin Heritage Park on Tuesday, Justin Trudeau emphasized that the tax hike proposed in the federal budget merely asks "the wealthiest to pay a little bit more."

"We just don't think it's right that a student, or an electrician or a teacher be paying taxes on 100 per cent of their income while others have the opportunities to use accountants and pay taxes on only 50 per cent of that income," Trudeau noted, as CBC reported. 

Currently, only 50 percent of capital gains or profits made on the sale of assets are taxable. The federal budget proposes to raise that so-called "inclusion rate" from 50 percent to two-thirds on capital gains above $250,000 for individuals and taxing two-thirds of all capital gains from corporations and trusts.

Kathleen Ross, president of the CMA, told the Canadian Press on Tuesday that many doctors would be affected by the hike because they incorporate their medical practices or set themselves up as small businesses and invest for retirement within their corporations. 

She noted that the proposed changes would raise taxes on these investments, adding "financial strain" to doctors who do not have access to pensions. 

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Canada's Justin Trudeau Defends the Planned Capital Gains Tax Hike

Justin Trudeau defended the planned capital gains tax hike, saying it's about fairness and ensuring that young people can afford homes and have confidence in the future.

"This is about the fact that in order for people to succeed across this economy, at all generations, we need young people to succeed, we need young people to be able to buy homes in the coming years, we need young people to be confident of the future," the Canadian prime minister said, according to CBC.

"So yes we are asking the most successful in this country to do a little bit more to make sure that everyone can see themselves in the success of this country," he added.

However, the CMA maintained that the tax increase would undermine the physicians' well-being and "jeopardize the stability of our struggling healthcare system" at a time when doctors are already cutting their hours or leaving the profession.

Canada reportedly faces a severe doctor shortage as many physicians retired and are not being filled by graduating students. 

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