Industry Canada - Office of Physicians

Do you wonder how your numbers compare to other Doctors? Are you curious if your expenses are in line with other Doctors? Wonder if you are at high risk of audit because they don’t match up?

Rather than look at your colleagues financial statements you can look to the Statistics Canada report under all of those people who consider themselves “ Offices of Physician - 62111” There were 77,212 business reporting as such in 2017.

An interesting thing about 2017 though is that this was just before the new Tax on Split Income came in to play, so it will be interesting when 2018 comes out. A significant change will likely be a big increase in payroll as many physicians shifted from paying out dividends to payroll.

The information is split in to 25% quadrilles can be found here: https://www.ic.gc.ca/app/scr/app/cis/performance/rev/62111

Here are a few interesting stats (note they do not add up:)

	Whole Industry	Bottom 25%	Lower Middle 25%	Upper Middle 25%	Top Quartile 25%
Revenue (avg)	$411,600	$101,100	$263,800	$424,900	$856,800
Payroll	$93,700	$12,000	$50,000	$97,500	$218,300
Rent	$14,000	$4,500	$10,200	$13,100	$28,300
Profesional Fees	$13,200	$3,900	$7,500	$11,300	$30,300
Advertising Promotion	$2,500	$400	$1,200	$2,200	$6,300
Insurance	$8,200	$2,500	$5,100	$8,700	$16,500
NET PROFIT	$230,800	$61,900	$161,600	$250,700	$449,000