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Post by Disgruntled70sHab on Oct 15, 2014 15:24:16 GMT -5
I remember hearing that taxes were tough on the Habs, but I never knew just how much the players actually forked out ... this article explains quite a bit: Westhead: Why Montreal is the worst NHL city...when it's tax time By Rick WestheadWhen it comes to keeping their own players and attracting new ones, the Montreal Canadiens have history on their side. They have a rafter full of retired jerseys and Stanley Cup banners testify to the team's pedigree. But the Canadiens, like some other NHL teams north of the border, face a troublesome obstacle when it comes to negotiating with players: Revenue Canada. Many players on NHL teams in Quebec and Ontario pay the highest combined federal and provincial/state income tax rate in the NHL, a TSN study has found. Canadiens defencemen Andrei Markov and P.K. Subban will each make $7 million on paper this year. But after handing over 49.7 per cent of their check to the taxman, they'll each bring home just $3.5 million. More/SuiteAlso be sure to check out the table of players at the end of the column. Cheers.
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Post by Polarice on Oct 15, 2014 16:43:29 GMT -5
Not just Montreal, teams like LA have taxes as high as Montreal. It's all comes down to what the players can use for tax breaks....like buying a box for sick kids, charity events, etc.
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Post by seventeen on Oct 15, 2014 17:59:17 GMT -5
yeah, I found the California tax structure interesting. It's almost as bad as Quebec's. Odd that Ontario's is so low. Kessel clears almost as much as someone in Florida or Carolina, 3rd world states.
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Post by franko on Oct 15, 2014 18:07:22 GMT -5
and everyone that plays in Nashville (that is, on visiting teams) pays a tax as well -- $2,500 per game.
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Post by Disgruntled70sHab on Oct 15, 2014 19:04:39 GMT -5
They mention Martin Lapointe later in the article ... there was a huge lobby here on HabsRus wanting to see him Montreal ... despite Montreal matching what Boston offered, Lapointe ended up signing with the Bruins anyway, partly because he could keep more of his money ... interesting that UFAs are well-briefed as to which markets offer the best tax breaks and why not ...
Cheers.
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Post by Polarice on Oct 16, 2014 8:39:14 GMT -5
Teams in Ontario and Quebec are getting around the tax issue by offering signing bonuses which are only taxed by 15%....that's what the Leafs did with Kessel.
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Post by UberCranky on Oct 16, 2014 15:55:45 GMT -5
And the reason I care about grown man making a lot of money playing a game and paying a lot of taxes?
I paid 44% for years on end end making real product people really need.......and never complained.....too loudly.
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Post by GNick99 on Oct 16, 2014 16:38:10 GMT -5
They mention Martin Lapointe later in the article ... there was a huge lobby here on HabsRus wanting to see him Montreal ... despite Montreal matching what Boston offered, Lapointe ended up signing with the Bruins anyway, partly because he could keep more of his money ... interesting that UFAs are well-briefed as to which markets offer the best tax breaks and why not ... Cheers. Why we found it hard to contend at times...hard to get top free agents to sign here. If we had a team who could offer shot at cup every year we would be back in the bidding for top UFA
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Post by seventeen on Oct 16, 2014 19:48:22 GMT -5
And the reason I care about grown man making a lot of money playing a game and paying a lot of taxes? I paid 44% for years on end end making real product people really need.......and never complained.....too loudly. I find that hard to believe. The never complaining part. ?
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Post by UberCranky on Oct 16, 2014 21:28:04 GMT -5
And the reason I care about grown man making a lot of money playing a game and paying a lot of taxes? I paid 44% for years on end end making real product people really need.......and never complained.....too loudly. I find that hard to believe. The never complaining part. ? Never liked it......but nothing I could do about it.....
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