As a Canadian I’m happy with our tax system. Don’t really care if high income earners want to cry about it, pay your fair shade buddy. Not that I’m saying he’s crying about it of course, his comments seem to be in jest.
Don’t play in Quebec, I guess. Federal tax rate above $250k is 33%, and Quebec is a further 25.5%. B.C. is 20.5%, Ontario is 13.6%, and Alberta is 15% above $350k.
I predict the socialist experiment that is Canada is going to follow the same path that every single country doing that has gone previously
It will likely be a more “silent implosion” due to an all-compassing malaise, depression, stagnation – a complete lack of anything that makes life worth living.
So, if he makes $750,000 gross, after the 50% income tax and 14% escrow, he is still making $322,000 (approx.) not insanely bad, way more than the average Canadian and American, lol.
I paid around $12,000 over four years for my degree in Quebec. High taxes, good society.
I was under the impression this guy would be an American player
But… roads and stuff so its good. Right?
I mean, a good accountant should be able to get a huge chunk of this back so I dunno man.
It’s like people automatically assume tax = bad, but refuse to educate themselves on how the game is played.
He is illustrating a problem with other tax codes… nothing wrong with Canadas. He is not making the point he thinks he is making.
The CBA needs to equalize this so it’s not an advantage… otherwise the only teams that can remain competitive will be in tax havens
You’ll never hear McDavid whining about taxes
You still take home, after taxes, what an average doctor earns… wipe your tears with those dollar bills you have.
Well Canada takes pretty good care of it’s citizens so there’s that. I feel like people making seven figures should pay their fair share. Isn’t that the general sentiment on taxes around reddit? What makes athletes any different
What’s crazy is our ancestors fought a war over 3 cent tax on tea. We’re here justifying a guy paying 50% of his salary from his work to the government. Our forefathers would kick our asses for letting our country go back to what they fought to avoid. A monarchy.
Sorry. But I’m a black hawks fan and If you’re rich Illinois is crooked. So, all good free agents sign here. We can work some pay under the table….
Jt does suck
Or be like Tavares and just don’t pay
🎻
Love the blue note jersey.
Is Hockey Player Math a thing like Girl Math?
It’s not a flat 54% tax rate.
I could be way off here, but aren’t these guys paid in USD? That should offset some of the hit, no?
Set up an RCA and then move to Florida. Ask me how!
In the interest of league parity the salary cap should be based on post tax salary.
I’m friends with someone who’s played less then 100 nhl games and less then 100 AHL games. He has a career earning just north of 7million on (rip) cap friendly. His actually take home living in Ontario is just shy of 3 million. Taxes, escrow, paying agent, union dues. It’s pretty crazy.
This is the downside to things like universal health care. It’s why it stifles business and investment, and you can see from the decisions hockey players make why the incentives lead you to take your services from those high tax areas
Yup. We all pay taxes. It’s expensive.
I think the issue why they are taken by such surprise is that they are generally kids when this happens and they are told you are going to make, say, $1 million. And then you get your paycheck and are like, what?
Happened to me, too, when I got my first paycheck of a few hundred. But no one was interviewing me about it, so none of you heard about my disappointment.
Why don’t players start a proprietorship, employ themselves as contract muscle and keep the money in their corp to only play ~11% tax?
Yeah in the NBA dudes don’t want to play in Canada bc of this.
They’ll be fine
While they are comparing tax rates why don’t they also compare murder rates? You want to raise a family in St Louis because of taxes? Enjoy living in the city with second highest murder rate in the states.
I think people are getting the wrong “take” on these comments. Of course there’s higher taxes in Canada versus the US, and the larger worry isn’t this guy stating the facts. And the user comments about exact taxation rates per province and state (Fla and Vegas is 0%). Or the people whining about 350K$ is more than the average Canadian. The point is. These players have a finite career (unlike the average Canadian) and also, after 5 seasons, have the ability to take their services elsewhere, and into no tax US states (again, unlike the average Canadians). So if my 4M$ salary being offered by a Canadian team, is the same as a 2.5$M offer from the 3 teams in Fla and Vegas. It’s a no brainer. Add in the weather of those cities, a potential language barrier in Quebec and Canadian media is hockey centered, and that’s not for everyone.
I’m starting to change my tune on this whole tax thing. It’s really an issue.
Millionaires complaining about not making enough money. A tale as old as time.
Sometimes I wonder if you can sign under a corporation instead of as a player.
It’s the same old story. Higher tax rates drive businesses away (in this case the player is the business).
I’d be ok with taxes if the government actually used that money for a positive outcome. Nah they just pay themselves and piss the rest away. Canada is literally a joke Country. Manifest that destiny already for crying out loud.
Welcome to Trudeauland, TAX, TAX TAX, TAX TAX
Not crying for millionaire players or billionaire owners here. Most NHL’ers make good money, even after taxes. They also can usually find good paying work after they retire.
You need to set their earnings in context to an above average salary (doctor, etc.), which an average NHL salary would far outweigh even these well off good paying jobs.
Taxes are a good thing and pay for essential services. The rich ought to pay more.
In what world it’s a healthy system to taxe rich people more than 50%?
38 comments
As a Canadian I’m happy with our tax system. Don’t really care if high income earners want to cry about it, pay your fair shade buddy. Not that I’m saying he’s crying about it of course, his comments seem to be in jest.
Don’t play in Quebec, I guess. Federal tax rate above $250k is 33%, and Quebec is a further 25.5%. B.C. is 20.5%, Ontario is 13.6%, and Alberta is 15% above $350k.
I predict the socialist experiment that is Canada is going to follow the same path that every single country doing that has gone previously
It will likely be a more “silent implosion” due to an all-compassing malaise, depression, stagnation – a complete lack of anything that makes life worth living.
So, if he makes $750,000 gross, after the 50% income tax and 14% escrow, he is still making $322,000 (approx.) not insanely bad, way more than the average Canadian and American, lol.
I paid around $12,000 over four years for my degree in Quebec. High taxes, good society.
I was under the impression this guy would be an American player
But… roads and stuff so its good. Right?
I mean, a good accountant should be able to get a huge chunk of this back so I dunno man.
It’s like people automatically assume tax = bad, but refuse to educate themselves on how the game is played.
He is illustrating a problem with other tax codes… nothing wrong with Canadas. He is not making the point he thinks he is making.
The CBA needs to equalize this so it’s not an advantage… otherwise the only teams that can remain competitive will be in tax havens
You’ll never hear McDavid whining about taxes
You still take home, after taxes, what an average doctor earns… wipe your tears with those dollar bills you have.
Well Canada takes pretty good care of it’s citizens so there’s that. I feel like people making seven figures should pay their fair share. Isn’t that the general sentiment on taxes around reddit? What makes athletes any different
What’s crazy is our ancestors fought a war over 3 cent tax on tea. We’re here justifying a guy paying 50% of his salary from his work to the government. Our forefathers would kick our asses for letting our country go back to what they fought to avoid. A monarchy.
Sorry. But I’m a black hawks fan and If you’re rich Illinois is crooked. So, all good free agents sign here. We can work some pay under the table….
Jt does suck
Or be like Tavares and just don’t pay
🎻
Love the blue note jersey.
Is Hockey Player Math a thing like Girl Math?
It’s not a flat 54% tax rate.
I could be way off here, but aren’t these guys paid in USD? That should offset some of the hit, no?
Set up an RCA and then move to Florida. Ask me how!
In the interest of league parity the salary cap should be based on post tax salary.
I’m friends with someone who’s played less then 100 nhl games and less then 100 AHL games. He has a career earning just north of 7million on (rip) cap friendly. His actually take home living in Ontario is just shy of 3 million. Taxes, escrow, paying agent, union dues. It’s pretty crazy.
This is the downside to things like universal health care. It’s why it stifles business and investment, and you can see from the decisions hockey players make why the incentives lead you to take your services from those high tax areas
Yup. We all pay taxes. It’s expensive.
I think the issue why they are taken by such surprise is that they are generally kids when this happens and they are told you are going to make, say, $1 million. And then you get your paycheck and are like, what?
Happened to me, too, when I got my first paycheck of a few hundred. But no one was interviewing me about it, so none of you heard about my disappointment.
Why don’t players start a proprietorship, employ themselves as contract muscle and keep the money in their corp to only play ~11% tax?
Yeah in the NBA dudes don’t want to play in Canada bc of this.
They’ll be fine
While they are comparing tax rates why don’t they also compare murder rates? You want to raise a family in St Louis because of taxes? Enjoy living in the city with second highest murder rate in the states.
I think people are getting the wrong “take” on these comments. Of course there’s higher taxes in Canada versus the US, and the larger worry isn’t this guy stating the facts. And the user comments about exact taxation rates per province and state (Fla and Vegas is 0%). Or the people whining about 350K$ is more than the average Canadian.
The point is. These players have a finite career (unlike the average Canadian) and also, after 5 seasons, have the ability to take their services elsewhere, and into no tax US states (again, unlike the average Canadians).
So if my 4M$ salary being offered by a Canadian team, is the same as a 2.5$M offer from the 3 teams in Fla and Vegas. It’s a no brainer.
Add in the weather of those cities, a potential language barrier in Quebec and Canadian media is hockey centered, and that’s not for everyone.
I’m starting to change my tune on this whole tax thing. It’s really an issue.
Millionaires complaining about not making enough money. A tale as old as time.
Sometimes I wonder if you can sign under a corporation instead of as a player.
It’s the same old story. Higher tax rates drive businesses away (in this case the player is the business).
I’d be ok with taxes if the government actually used that money for a positive outcome. Nah they just pay themselves and piss the rest away. Canada is literally a joke Country. Manifest that destiny already for crying out loud.
Welcome to Trudeauland, TAX, TAX TAX, TAX TAX
Not crying for millionaire players or billionaire owners here. Most NHL’ers make good money, even after taxes. They also can usually find good paying work after they retire.
You need to set their earnings in context to an above average salary (doctor, etc.), which an average NHL salary would far outweigh even these well off good paying jobs.
Taxes are a good thing and pay for essential services. The rich ought to pay more.
In what world it’s a healthy system to taxe rich people more than 50%?
The league needs to move to a cap before taxes.